Eastman Chem Co - EMN STOCK NEWS

Eastman's Cristal Renew is revolutionizing the plastic waste crisis by offering sustainable packaging solutions without sacrificing product quality. Utilizing molecular recycling technology, they break down plastic waste to its molecular level, creating new, high-quality packaging. Esteemed brands like LVMH/Parfums Christian Dior and Amorepacific have adopted Cristal Renew to reduce their environmental impact while maintaining product excellence. This innovative technology allows molders to produce sustainable packaging without altering existing molds, catering to the rising consumer demand for eco-friendly products. Learn more about Cristal Renew's sustainable packaging solutions on their website.

Eastman has announced the development of a new molecular recycling facility in Longview, Texas, powered by thermal battery technology. The project is supported by up to $375 million from the U.S. Department of Energy's Office of Clean Energy Demonstrations. The facility will process around 110,000 metric tons of hard-to-recycle plastic waste, contributing to Eastman's goal of recycling 250 million pounds of plastic annually by 2025 and doubling that by 2030. The use of thermal batteries, which store heat generated from renewable energy, will significantly reduce greenhouse gas emissions. The Longview project is a part of Eastman's $2 billion investment in molecular recycling and aims for carbon neutrality by 2050. The facility will also create significant employment opportunities, with 1,000 temporary construction jobs and 200 full-time positions.

Eastman has announced a revolutionary molecular recycling technology aimed at addressing the planet's plastic waste crisis. By 2030, Eastman plans to recycle 50 million tons of plastic waste using their technology, which allows plastic to be reused repeatedly without degradation. The company boasts the world's largest molecular recycling plant, capable of processing hard-to-recycle plastics into high-quality materials. Eastman emphasizes the importance of partnerships and collaborations in creating a circular economy and invites other forward-thinking companies to join in their efforts to develop sustainable solutions.

Eastman and Food City have launched the 'Shop, Recycle, Repeat' program in Kingsport, Tennessee, to enhance plastic recycling efforts. The initiative, which began with three Food City stores, has collected 3,000 pounds of plastic in its first month. The program utilizes large recycling bins with QR codes linking to informational websites. Eastman's new molecular recycling plant, capable of processing 110,000 tons of plastic annually, will manage the collected plastics. This facility can handle the equivalent of 11 billion single-use water bottles each year. The project aims to expand beyond Kingsport, addressing plastic waste in rural communities while providing valuable insights for broader applications. The partnership emphasizes the importance of collaborative efforts to modernize recycling systems.

Eastman has launched Naia™ Renew, a sustainable fiber for the denim market. This innovation supports the fashion industry's increasing demand for eco-friendly solutions.

Naia™ Renew consists of 60% sustainably sourced wood pulp and 40% certified recycled content. It blends well with natural, man-made, and synthetic fibers, offering a versatile, hypoallergenic, and skin-friendly option for denim fabrics.

This fiber is produced through Eastman's patented molecular recycling technology, reducing landfill waste and the reliance on virgin materials. It is biodegradable and fully traceable, with multiple sustainability certifications, including Global Recycled Standard (GRS) and OEKO-TEX class 1.

Eastman collaborates with global brands like Patagonia and Debrand to recycle pre- and post-consumer waste for Naia™ Renew. The product's features include odor and moisture management and a soft feel, enhancing comfort and style for denim lovers worldwide.

Eastman's press release highlights the career of Pevas Bailey, a seasoned textile industry professional, who is now promoting sustainable textiles with Eastman's Naia™ cellulosic fiber. Bailey's journey began in North Carolina, where his uncle mentored him in textile mechanics. After earning a degree in textile management, Bailey worked for Sara Lee before returning to help his uncle's business. He joined Eastman in 2019, focusing on sustainable manufacturing practices to mitigate climate change. Bailey is also active in promoting workplace diversity through Eastman's Connect ERG and mentoring programs like IGNITE.

Eastman and Finavia, which manages Finland's airports, have collaborated to ensure safe and sustainable winter travel through the use of Eastman Clearway® de-icer. The de-icer not only keeps runways and taxiways operational during Finland's long winter but also aligns with environmental goals due to its biodegradability and low aquatic toxicity. Finavia aims to reach net-zero emissions by 2025, and Clearway supports this with its reduced carbon footprint, achieved by switching from heavy fuel oil to natural gas in its production process. The de-icer has been in use for over 30 years and is certified with the Blue Angel Ecolabel. Eastman also provides comprehensive support, including supply logistics and environmental testing, to ensure Finavia's winter operations run smoothly.

Aldo Noseda, Eastman's Chief Information Officer, has won the 2024 Tennessee CIO Global ORBIE Award. The ORBIE Awards, initiated in 1998, honor exceptional technology leaders in the U.S. who excel in leadership, innovation, and community engagement.

Since joining Eastman in 2018, Noseda has driven a significant modernization strategy, enhancing the company’s digital landscape with advancements in AI and data analytics. His efforts also led to the creation of independent revenue-generating digital products. Noseda's leadership has contributed to Eastman's technological and business advancements, earning him this prestigious recognition.

He also contributes to boards at Ballad Health and Saint Louis University School of Business.

Eastman has announced a significant advancement in recycling through its Kingsport facility, one of the world's largest molecular recycling facilities. Capable of recycling 110,000 metric tons of hard-to-recycle plastic waste annually, the facility contributes to a circular economy by allowing plastics to be recycled indefinitely. This technology reduces carbon emissions compared to traditional fossil-based processes, promoting sustainability and resource conservation. Eastman aims to lead the transformation towards a more sustainable future, positively impacting various industries and global consumers.