Amcor partners with Licella to deliver recycled content from one of Australia's first plastic advanced recycling facilities

Rhea-AI Summary

Amcor (NYSE: AMCR) has signed a Memorandum of Understanding with Licella Holdings to invest in one of Australia's first advanced plastic recycling facilities, aimed at creating a local circular economy for soft plastics. This facility, located in Melbourne, plans to process 20,000 tonnes of waste plastic annually using Licella's Cat-HTR technology. The project has received approval from the Victorian Environmental Protection Agency. This partnership supports Amcor's goal of achieving 30% recycled content in its products by 2030.

Positive

• Partnership with Licella Holdings enhances sustainability efforts.
• Facility expected to process 20,000 tonnes of waste plastic annually.
• Supports Amcor's target of 30% recycled content by 2030.

Negative

• None.

MELBOURNE, Australia, Dec. 21, 2022 /PRNewswire/ -- Amcor (NYSE: AMCR) (ASX:AMC), a global leader in responsible packaging solutions, today announced its Amcor Australia & New Zealand (ANZ) business has signed a Memorandum of Understanding (MOU) with Australian-based technology pioneers, Licella Holdings, to invest in one of Australia's first plastic advanced recycling facilities.

As one of the first advanced recycling facilities to be built in Australia, the agreement supports Amcor and Licella's commitment to creating a local circular economy for soft plastics in Australia and helps advance Amcor's target to achieve 30% recycled content across its portfolio by 2030.

Located in Melbourne, stage one of the proposed facility is expected to process 20,000 tonnes per annum of waste plastic utilising Licella's pioneering Cat-HTR™ technology, relying on collections activities to divert soft plastic waste from landfill or incineration. This stage of the project has already received approval from the Victorian Environmental Protection Agency.

Amcor ANZ and Licella previously collaborated on Licella's Feasibility Study, which validated a local supply chain for food-grade recycled soft plastic and demonstrates the critical economic and environmental benefits of the proposed facility.

Both parties will be undertaking further discussions on final terms and arrangements, which will be subject to respective internal approvals.

Mike Cash, President, Amcor Flexibles Asia Pacific, said that Amcor is proud to be part of the solution, supporting the development of new technologies and creating a local circular economy for soft plastics in Australia. 

"We are proud to be able to help deliver a local supply of food-grade recycled content that can enable more customers to participate in a circular economy."

Dr Len Humphreys, Chief Executive Officer, Licella Holdings said, "Licella and Amcor share a vision for a more sustainable future for plastic. We are delighted to partner with Amcor as we develop our first Australian advanced recycling facility, with our Cat-HTR™ technology that enables soft plastic to be repeatedly recycled into food-grade post-consumer recycled content, which is rapidly increasing in demand both locally and globally."

To learn more about Amcor's collaborations to innovate for more sustainable, responsible packaging solutions, visit our sustainability partnerships page, and read more about Amcor's progress in reaching its sustainability goals in the Amcor FY22 Sustainability Report.

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

About Licella

Licella's patented Catalytic Hydrothermal Reactor (Cat-HTR™) is the world's most commercially advanced hydrothermal liquefaction ('HTL') technology – the next-generation of advanced recycling. HTL chemically transforms low value and waste feedstocks into a high-quality oil, which can be refined to high value sustainable and renewable fuels and chemicals. Licella have successfully scaled up the Cat-HTR^TM platform over a 14 year period at its pilot facility in Somersby NSW to a now commercial ready state. With more than $120M invested in the technology, several commercial projects are underway globally for the chemical recycling of end-of-life plastics, and in Canada, to upgrade low value biomass streams to biofuel and biochemicals.

www.licella.com I LinkedIn

 

View original content:https://www.prnewswire.com/news-releases/amcor-partners-with-licella-to-deliver-recycled-content-from-one-of-australias-first-plastic-advanced-recycling-facilities-301708461.html

SOURCE Amcor

FAQ

What is Amcor's recent partnership about?

Amcor partnered with Licella Holdings to invest in an advanced plastic recycling facility in Australia.

What is the expected capacity of the new recycling facility?

The facility is expected to process 20,000 tonnes of waste plastic per annum.

When was the Memorandum of Understanding signed?

The Memorandum of Understanding was announced on December 21, 2022.

What technology will the recycling facility use?

The facility will use Licella's Cat-HTR technology for recycling.

How does this partnership align with Amcor's sustainability goals?

This partnership supports Amcor's goal of reaching 30% recycled content in its products by 2030.