SEATTLE (Recycling Monster): A Memorandum of Understanding (MoU) was signed by Blue Planet Environmental Solutions Pte Ltd., based in Singapore, and Texas-based Encina Development Group, LLC to cooperate on initiatives targeted at diverting plastic garbage.
The agreement states that Blue Planet will provide feedstock to Encina's circular manufacturing plants in the Americas, Saudi Arabia, India, and Southeast Asia, among other parts of the world. These manufacturing plants are all still in the planning stages. The feedstock will come from Blue Planet's extensive global network of material recovery plants. According to David Roesser, CEO of Encina, both businesses are committed to developing goods and services that promote sustainability and worldwide decarbonization.
Prashant Singh, Co-Founder & CEO of Blue Planet, commented on the news, pointing out that by diverting plastic trash from landfills and turning it into useful resources, the partnership enables the business to increase its effect on the global waste crisis. Moreover, he continued, the alliance will promote the decarbonization of the whole chemicals sector.
The partnership aims to divert nearly 2.6 million tonnes of plastic waste every year by ensuring proper collection, segregation and processing.
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