Amcor and NOVA Chemicals announce agreement to source mechanically recycled polyethylene

Rhea-AI Summary

Amcor (NYSE: AMCR, ASX:AMC) announces a collaboration with NOVA Chemicals Corporation for the purchase of mechanically recycled polyethylene resin (rPE) for use in flexible packaging films, supporting their commitment to packaging circularity and sustainability. The supply agreement enables Amcor to purchase SYNDIGO™ rPE resin from NOVA Chemicals' new recycling facility, projected to be in operation by 2025, to achieve 30% recycled material usage across their global portfolio by 2030.

Positive

• Amcor's collaboration with NOVA Chemicals reflects a strong commitment to sustainable packaging solutions and circularity, aligning with industry trends towards increased use of recycled materials. The partnership supports Amcor's goal to achieve 30% recycled material usage by 2030, demonstrating a proactive approach to environmental responsibility and brand owner support.

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• None.

Multiyear collaboration reflects shared commitment to circular content

DEERFIELD, Ill., Nov. 8, 2023 /PRNewswire/ -- Amcor (NYSE: AMCR, ASX:AMC), a global leader in developing and producing responsible packaging solutions, today announced a Memorandum of Understanding (MOU) with leading sustainable polyethylene producer NOVA Chemicals Corporation ("NOVA Chemicals") for the purchase of mechanically recycled polyethylene resin (rPE) for use in flexible packaging films. Increasing the use of rPE in flexible packaging applications is an important element of Amcor's commitment to support packaging circularity.

The supply agreement would enable Amcor to purchase SYNDIGO™ rPE resin, manufactured at NOVA Chemicals' first mechanical recycling facility in Connersville, Indiana, which is projected to be in operation as early as 2025. The recycling facility was announced in July as a significant expansion of NOVA Chemicals' Circular Solutions business.

"This is an exciting opportunity for us to supplement our rPE supply in support of our target to achieve 30% recycled material usage across our global portfolio by 2030," said Fred Stephan, president of Amcor Flexibles North America. "Incorporating rPE into flexible packaging films helps brand owners meet voluntary commitments on recycled content targets, reduce greenhouse gas emissions, and keep plastic waste in the economy and out of the environment."

"We are pleased to work with Amcor to bring more film-grade rPE to market and further drive the circular economy," said Greg DeKunder, vice president, NOVA Circular Solutions. "Reshaping plastics for a better future will take collaboration within our industry, and we share Amcor's commitment to further global packaging circularity."

NOVA Chemicals plans to expand its recycling footprint across North America over the next several years to help reach its industry-leading ambition of 30% share of total PE sales from products containing recycled content.  

About Amcor
Amcor is a global leader in developing and producing responsible packaging solutions across a variety of materials for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that is increasingly lighter weight, recyclable and reusable, and made using an increasing amount of recycled content. In fiscal year 2023, 41,000 Amcor people generated $14.7 billion in annual sales from operations that span 218 locations in 41 countries. NYSE: AMCR; ASX: AMC

www.amcor.com I LinkedIn I Facebook I YouTube

About NOVA Chemicals Corporation
NOVA Chemicals aspires to be the leading sustainable polyethylene producer in North America. Our driving purpose is to reshape plastics for a better, more sustainable world by delivering innovative solutions that help make everyday life healthier and safer and acting as a catalyst for a low carbon, zero-plastic-waste future. NOVA Chemicals' innovative and quality product offerings, value chain collaboration, and unique customer experience is what sets us apart; our customers use our products to create easy-to-recycle and recycled content films, packaging, and products. Our employees work to ensure health, safety, security, and environmental stewardship through our commitment to Sustainability and Responsible Care^®.

NOVA Chemicals, headquartered in Calgary, Alberta, Canada, has nearly 2,500 employees worldwide and is wholly owned by Mubadala Investment Company of the Emirate of Abu Dhabi, United Arab Emirates.

Learn more at www.novachem.com or follow us on LinkedIn.

NOVA Chemicals' logo is a registered trademark of NOVA Brands Ltd.; authorized use.
Responsible Care® is a registered trademark of the Chemistry Industry Association of Canada.
SYNDIGO™ is a trademark of NOVA Brands Ltd.; authorized use.

 

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SOURCE Amcor

FAQ

What is the collaboration between Amcor and NOVA Chemicals about?

The collaboration involves Amcor purchasing mechanically recycled polyethylene resin (rPE) from NOVA Chemicals for use in flexible packaging films, supporting Amcor's commitment to packaging circularity and sustainability.

What are the benefits of incorporating rPE into flexible packaging films?

Incorporating rPE helps brand owners meet voluntary commitments on recycled content targets, reduce greenhouse gas emissions, and keep plastic waste in the economy and out of the environment.

What are the goals of Amcor in terms of recycled material usage?

Amcor aims to achieve 30% recycled material usage across their global portfolio by 2030, and this collaboration with NOVA Chemicals supports that goal.

How does NOVA Chemicals plan to expand its recycling footprint?

NOVA Chemicals plans to expand its recycling footprint across North America over the next several years to help reach its industry-leading ambition of 30% share of total PE sales from products containing recycled content.