Amcor increases use of advance recycling materials leveraging ExxonMobil's Exxtend™ technology

Rhea-AI Summary

Amcor (NYSE: AMCR) has become the first company to purchase certified circular polyethylene material using ExxonMobil's Exxtend™ technology for advanced recycling. This initiative aims to enhance sustainability in flexible packaging, especially for the healthcare and food sectors. Amcor's goal is to ensure all packaging is recyclable or reusable by 2025. The new technology will build on the 113,000 metric tons of recycled material Amcor used in fiscal year 2021, delivering high-quality products made from recycled content.

Positive

• First company to utilize ExxonMobil's Exxtend™ technology, enhancing sustainability.
• Aligns with Amcor's commitment to make all packaging recyclable or reusable by 2025.
• Increased use of recycled materials builds on 113,000 metric tons used in fiscal year 2021.

Negative

• None.

New technology will result in more sustainable flexible polyethylene packaging

CHICAGO, April 12, 2022 /PRNewswire/ -- Amcor (NYSE: AMCR) (ASX:AMC), a global leader in developing and producing responsible packaging solutions, today announced it is the first company to purchase certified circular polyethylene material using ExxonMobil's Exxtend™ technology for advanced recycling. Amcor will leverage this new material across its global portfolio, providing customers in healthcare and food industries with more recycled content in a variety of solutions and applications.

Increasing the use of advance recycling materials, such as circular polymers, is one way Amcor is meeting its sustainability pledge to develop all of its packaging to be recyclable or reusable by 2025. The use of these materials will significantly add to the 113,000 metric tons of recycled material Amcor used in its packaging in fiscal year 2021. The technology behind advance recycling materials allows plastic waste to be converted into brand new products that are no different in quality and performance from ones made with virgin raw materials, providing customers peace of mind and the benefit of increasing the use of recycled content in their packaging. 

"Using advanced recycled materials is yet another step forward in Amcor meeting the challenges of our industry and offering our customers more sustainable packaging solutions," said Amcor Chief Commercial Officer Peter Konieczny. "By leveraging ExxonMobil's Exxtend technology across our global product portfolio, Amcor is providing a true differentiator for our customers and the environment."

"We are proud to see our relationship with Amcor expand with our Exxtend technology to help address their sustainability goals, as well as those of their customers," said David Hergenrether, Vice President, Polyethylene, ExxonMobil. "We look forward to working closely with Amcor to develop products that meet customer expectations for high-performance PE products, while helping to recycle plastic waste."

Using its Exxtend technology, ExxonMobil offers certified circular polymers with the International Sustainability and Carbon Certification Plus (ISCC PLUS) certification, which is widely recognized as an effective standard for certifying the circularity of chemical products that result from advanced recycling operations via mass balance attribution.

About Amcor

Amcor is a global leader in developing and producing responsible packaging 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 light-weighted, recyclable and reusable, and made using an increasing amount of recycled content. Around 46,000 Amcor people generate $13 billion in annual sales from operations that span about 225 locations in 40-plus countries.

About ExxonMobil

ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society's evolving needs. The corporation's primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide society with products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world.  To learn more, visit exxonmobil.com, the Energy Factor and exxonmobilchemical.com/exxtend.

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SOURCE Amcor

FAQ

What is Amcor's latest initiative regarding advanced recycling technology?

Amcor has announced its partnership with ExxonMobil to use Exxtend™ technology for advanced recycling, becoming the first to purchase certified circular polyethylene material.

How does Amcor plan to improve its packaging sustainability?

Amcor aims to make all its packaging recyclable or reusable by 2025, leveraging advanced recycling materials like circular polymers.

What was the volume of recycled material used by Amcor in 2021?

In fiscal year 2021, Amcor used 113,000 metric tons of recycled material in its packaging.

What sectors will benefit from Amcor's new technology?

The healthcare and food industries will significantly benefit from Amcor's use of advanced recycled materials.