Amcor drives progress on advanced recycling materials for food and healthcare markets

Rhea-AI Summary

Amcor has secured a five-year agreement with ExxonMobil to purchase certified-circular polyethylene material, aiming to reach 100,000 metric tons annually by the end of the deal. This partnership supports Amcor's goal of incorporating 30% recycled material in its products by 2030. The material will be sourced from ExxonMobil's advanced recycling facility in Baytown, Texas, designed to recycle 30,000 metric tons of plastic waste yearly. Amcor continues its commitment to sustainability, with 74% of its products already designed to be recyclable.

Positive

• Five-year agreement with ExxonMobil for certified-circular polyethylene material.
• Aim to reach 100,000 metric tons of recycled material annually by the end of the contract.
• Supports Amcor's goal of 30% recycled material in its products by 2030.
• 74% of total production is already designed to be recyclable.

Negative

• None.

Five-year deal to secure thousands of tons of high-performance, certified-circular material from ExxonMobil's advanced recycling plant

ZURICH, Dec. 5, 2022 /PRNewswire/ -- Amcor (NYSE: AMCR, ASX: AMC), a global leader in developing and producing responsible packaging solutions, has today announced a five-year deal with ExxonMobil to purchase certified-circular polyethylene material in support of its target to achieve 30% recycled material across its portfolio by 2030. The volume of material will increase incrementally each year, and is expected to reach 100,000 metric tons annually at the end of the five-year period. 

Made possible by ExxonMobil's Exxtend^TM technology for advanced recycling, Amcor intends to leverage this material across its global portfolio, with a particular focus on the healthcare and food industries, which are required to meet stringent safety requirements for recycled plastic. The agreement expands upon Amcor's initial purchase of certified-circular polyethylene material from ExxonMobil earlier this year. 

Amcor is already delivering a variety of solutions containing recycled content to customers around the world, including Mondelez International who has made the switch to 30% food-grade recycled packaging for its Cadbury Dairy Milk, Caramilk and Old Gold family blocks in Australia.   

Ron Delia, CEO at Amcor, said: "We are committed to a future of more sustainable packaging and are excited to strengthen our ability to meet increasing customer demand for recycled content. 

"We're already working with major brands to support their sustainability ambitions and look forward to offering this innovative content across our global portfolio."

Michael Zamora, Senior Vice President of Product Solutions at ExxonMobil, said: "Our expanded commitment will make our Exxtend^TM technology for advanced recycling available to even more of Amcor's customers across the globe, and represents an important step towards reaching our shared goal of helping to increase the amount of plastic waste that's recycled."

Amcor continues to make progress on its pledge to make all products recyclable, reusable or compostable by 2025, with 74% of total production by weight already designed to be recycled.  

Notes to Editors

• The certified-circular polyethylene material will be sourced from ExxonMobil's facility in Baytown, Texas, which, upon start-up later this year, will be one of North America's largest advanced plastic waste recycling facilities, with a capacity to recycle 30,000 metric tons of plastic waste per year.

• In 2022, Amcor launched a product rebrand including its new EcoGuard^TM brand, which makes it easier for customers to choose from a number of more sustainable solutions, including products that reduce the carbon footprint of packaging, are designed to be recycled and use recycled content or biomaterials.

About Amcor

Amcor is a global leader in developing and producing responsible packaging solutions 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 2022, 44,000 Amcor people generated $15 billion in annual sales from operations that span 220 locations in 43 countries. NYSE: AMCR; ASX: AMC
www.amcor.com I LinkedIn I Facebook I YouTube

 

 

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SOURCE Amcor

FAQ

What is the significance of Amcor's deal with ExxonMobil?

Amcor's five-year deal with ExxonMobil secures a supply of certified-circular polyethylene material, supporting its sustainability goals.

How much recycled material does Amcor plan to purchase annually by 2027?

Amcor aims to purchase 100,000 metric tons of certified-circular polyethylene material annually by the end of the five-year agreement.

What percentage of recycled material does Amcor aim for in its products by 2030?

Amcor aims to achieve 30% recycled material across its portfolio by 2030.

Where will the certified-circular polyethylene material be sourced from?

The material will be sourced from ExxonMobil's advanced recycling facility in Baytown, Texas.

What is Amcor's current status regarding recyclable products?

Amcor has designed 74% of its total production by weight to be recyclable.