Eastman plans to invest in two additional molecular recycling plants
Eastman announced it has achieved on-spec initial production and is generating revenue from its new molecular recycling facility in Kingsport, Tennessee. The company expects to ramp up production of the new facility over the coming months and enable growth across a wide range of markets. Achieving this critical milestone enables the company’s pathway to deliver approximately $75 million of incremental EBITDA in 2024 from this facility as it builds momentum in its circular economy platform.
“By demonstrating molecular recycling at this scale, we have solidified our position as a leader in the creation of a circular economy. Demand for recycled material at virgin-quality levels from our new facility remains strong, and we are excited to announce this significant next milestone in our journey,” said Mark Costa, Board Chair and CEO.
In addition to this recently completed facility in Kingsport, Eastman plans to invest in two additional molecular recycling plants, one in France and another U.S. site. The location of its second U.S. molecular recycling facility will be Longview, Texas. The selection of the Longview site was based on several factors, says Eastman, including existing infrastructure and operations synergies, favorable energy supply, access to feedstock pools in the western and central U.S., and ample space for renewable energy generation. The Longview facility will have the capacity to recycle approximately 110,000 metric tonnes of hard-to-recycle plastic waste.
Eastman’s proven polyester renewal technology recycles hard-to-recycle plastic waste bound for landfill or incineration today. The company’s technology allows this waste to be broken down into its molecular building blocks and then reassembled to become virgin-quality material without compromising performance. Eastman is enabling the potentially infinite use of materials by keeping these valuable molecules in production, in a material-to-material high-yield loop. Eastman can transform waste plastic into virgin quality food contact polyesters with lower greenhouse gas emissions than traditional methods.
