Avient Highlights Sustainable Solutions to Enable Post Consumer Recycled (PCR) Content in Packaging

Rhea-AI Summary

Avient Corporation (NYSE: AVNT) is responding to increasing consumer demands for sustainable products by launching innovative material solutions for packaging. Walter Ripple, VP of Sustainability, highlighted the growing interest in sustainable packaging, with major consumer goods companies aiming for up to 100% post-consumer recycled (PCR) content. Recent innovations include Rejoin™ PCR Masterbatch, ColorMatrix™ Optica™ Toners, and ColorMatrix™ rePrize™ IV Builder, all designed to enhance recycling and reduce costs. With 2020 pro forma revenues of $3.8 billion, Avient continues to position itself as a leader in sustainable solutions.

Positive

• Increased demand for sustainable solutions in packaging cited.
• Innovative products like Rejoin™ PCR Masterbatch and ColorMatrix™ products launched to meet sustainability goals.
• Major CPG companies utilizing Avient's solutions to achieve 100% PCR packaging.

Negative

• None.

CLEVELAND, April 5, 2021 /PRNewswire/ -- Consumers are demanding improved sustainability in the products they buy and from the companies who make those products.  Those sustainability demands also extend to the product packaging, and Avient Corporation (NYSE: AVNT) continues to launch material solutions that are meeting the challenge.

"The interest and activity for our sustainable solutions used in packaging has never been higher," said Walter Ripple, Vice President of Sustainability, Avient.  "Brand owners for all types of consumer products are setting sustainability goals to increase the amount of post-consumer recycled content (PCR) used in their packaging and improve the recyclability of that packaging at end of use.  Avient's innovation enables both."

Most large consumer packaged goods (CPG) companies have made commitments to increasing recycled content up to 100%. In response, Avient has formulated unique materials that are helping these companies meet those ambitious sustainability targets. Recent Avient innovations have included:

• Rejoin™ PCR Masterbatch colorants for polyolefin packaging applications, launched earlier this year, are made with post-consumer recycled (PCR) polyolefin as a carrier resin. This material was developed in response to growing customer demand and is already being utilized in one of the world's largest CPG companies to achieve 100% PCR packaging on multiple personal care product lines.
• ColorMatrix™ Optica™ Toners & Colors, when added to PET and recycled PET (rPET) materials, correct and reduce the color variations and yellowing that occurs during the recycling process. Formulations also improve downstream manufacturing and reduce costs for converters, bottle blowers, and ultimately, CPG companies.
• ColorMatrix™ rePrize™ IV Builder is a patented, liquid additive for the manufacture of rPET that increases the quality and performance of the recycled material, while reducing the energy needed to produce it. This results in the ability to increase recycled content without sacrificing packaging performance.

"The ability to use recycled content is a priority for our customers and for our world," Mr. Ripple said.  "We are proud to utilize our material science expertise to advance more widespread adoption of PCR usage and contribute to creating a truly circular economy."

This is the first in a series of communications that will highlight the many ways that Avient is enabling customers' sustainability goals through the company's expanding sustainable solutions portfolio of products and services.  Future topics will include other timely focus areas, such as formulating with bio-based materials, lightweighting and improving recyclability.

About Avient

Avient Corporation (NYSE: AVNT), with 2020 pro forma revenues of $3.8 billion, provides specialized and sustainable material solutions that transform customer challenges into opportunities, bringing new products to life for a better world. Examples include:

• Barrier technologies that preserve the shelf-life and quality of food, beverages, medicine and other perishable goods through high-performance materials that require less plastic
• Light-weighting solutions that replace heavier traditional materials like metal, glass and wood, which can improve fuel efficiency in all modes of transportation
• Breakthrough technologies that minimize wastewater and improve the recyclability of materials and packaging across a spectrum of end uses

Avient employs approximately 8,400 associates and is certified ACC Responsible Care®, a founding member of the Alliance to End Plastic Waste and certified Great Place to Work®.  For more information, visit www.avient.com.

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SOURCE Avient Corporation

FAQ

What are Avient's new sustainable solutions launched in April 2021?

Avient launched Rejoin™ PCR Masterbatch, ColorMatrix™ Optica™ Toners, and ColorMatrix™ rePrize™ IV Builder to enhance sustainability in packaging.

How much revenue did Avient report for 2020?

Avient reported pro forma revenues of $3.8 billion for 2020.

What sustainability goals are major consumer goods companies aiming for?

Many major consumer goods companies are targeting up to 100% post-consumer recycled content in their packaging.

Who is the Vice President of Sustainability at Avient?

Walter Ripple is the Vice President of Sustainability at Avient.

How does Avient contribute to a circular economy?

Avient enables the use of recycled content in packaging, contributing to the development of a circular economy.