6 November 2007 Petagain Ltd has announced its intention to build the UK s first large-scale food-grade PET recycling plant running on chemical technology.
Scheduled for 2009, the plant will use a continuous chemical process to produce food-grade rPET suitable for conversion into bottles or sheet for thermoformed packages.
By 2012, Petagain estimates the plant will recycle 20,000tpa of post-consumer PET waste for a 3% share of the European rPET market.
The company, which will be headed by Peter Reineck, plans to work closely with the Waste and Resources Action Programme (Wrap), public sector organisations, local authorities and retailers.
Demand for rPET in the UK greatly exceeds supply at present. Supply of rPET in Europe is conservatively estimated to be 20% of potential demand, or 570,000 tonnes per year and growing fast, said the company in today s statement.
Fox Capital will act as corporate financial advisor to Petagain, and Design, Research and Development Company (DRD) will provide technical consulting.
Scheduled for 2009, the plant will use a continuous chemical process to produce food-grade rPET suitable for conversion into bottles or sheet for thermoformed packages.
By 2012, Petagain estimates the plant will recycle 20,000tpa of post-consumer PET waste for a 3% share of the European rPET market.
The company, which will be headed by Peter Reineck, plans to work closely with the Waste and Resources Action Programme (Wrap), public sector organisations, local authorities and retailers.
Demand for rPET in the UK greatly exceeds supply at present. Supply of rPET in Europe is conservatively estimated to be 20% of potential demand, or 570,000 tonnes per year and growing fast, said the company in today s statement.
Fox Capital will act as corporate financial advisor to Petagain, and Design, Research and Development Company (DRD) will provide technical consulting.
