Sealed Air Global Impact Report: Investing and Collaborating To Transform

Rhea-AI Summary

Sealed Air (SEE) is enhancing its commitment to sustainability by investing in circular economy solutions aimed at reducing plastic waste. On January 18, 2023, the company announced a $5 million investment in Closed Loop Partners' Circular Plastics Fund, contributing to a $100 million goal for recycling technology. Alongside partners like ExxonMobil and Ahold Delhaize USA, SEE is developing low-carbon food-grade packaging solutions. These collaborations focus on increasing recycling capabilities and advancing sustainable practices, thus positioning Sealed Air as a leader in the transition towards a waste-free future.

Positive

• Investment of $5 million in Closed Loop Partners' Circular Plastics Fund to enhance recycling efforts.
• Collaboration with ExxonMobil and Ahold Delhaize USA aiming to produce certified circular resins for food-grade packaging.
• Partnership with Cyclyx to improve material recovery and increase recycled content in packaging solutions.

Negative

• None.

NORTHAMPTON, MA / ACCESSWIRE / January 18, 2023 / Sealed Air (SEE) is driving the industry in creating circular value chains that prevent waste, enable recovery of materials, and reduce dependence on natural resources. Accomplishing this type of circularity requires investments and collaborations that present opportunities to accelerate speed to market of scalable solutions, while leveraging innovation to create a sustainable competitive advantage.

Investments to Accelerate Circular Solutions

Closed Loop Partners

SEE invested $5 million in the Closed Loop Partners' Circular Plastics Fund to advance the recovery and recycling of plastics in the U.S. and Canada. The investment brings the fund closer to its goal of deploying $100 million to advance scalable recycling technologies, equipment upgrades and infrastructure solutions. "SEE's investment in the Closed Loop Circular Plastics Fund demonstrates their commitment to be a part of the solution to plastic waste, marking a critical step in building a waste-free future for the plastics and packaging industry. Their scale and deep expertise in the space allow us to extend our reach even further and encourage other companies to invest more capital to scale critical sustainable solutions," said Ron Gonen, founder and CEO of Closed Loop Partners

In 2022, a consortium of investors managed by Closed Loop Partners acquired a majority stake in Sims Municipal Recycling (SMR). The acquisition is designed to modernize circular economy infrastructure and service for SMR's operations in the New York-New Jersey metro region and Florida. This was the first investment made through the Circular Plastics Fund.

Plastic Energy

SEE made an equity investment in 2020 in Plastic Energy, an industry-leading company in advanced recycling technology, to drive materials circularity and expand the recyclability of packaging. The research collaboration is ongoing and has already resulted in a successful closed-loop demonstration which took flexible plastics collected from store drop-off locations and recycled them into new food packaging.

Developing Circular Systems for Plastics

ExxonMobil and Ahold Delhaize USA

A collaboration between SEE, ExxonMobil, and grocery retail group Ahold Delhaize USA is opening new recycling possibilities and paving the way for the packaging industry to protect perishable foods while creating a low-carbon, circular economy. These leading companies are working across the value chain to create new food-grade packaging by collecting and recycling used flexible plastics. This advanced recycling initiative demonstrates how high-performance packaging materials can be designed to be remade. The project has produced certified circular resins which resulted in new packaging for fresh poultry.

"We're proud to work with SEE and ExxonMobil on this collaboration, which has the potential to radically change the way retailers and manufacturers leverage food-grade recycled plastics as a key means of keeping plastics out of landfills," said Brittni Furrow, vice president health and sustainability for Ahold Delhaize USA. "We're eager to learn from this work and apply the learnings to advance our own plastics ambitions, but also advance these efforts broadly, helping to ensure a better tomorrow for our planet."

Cyclyx

SEE is partnering with Cyclyx, a post-use plastic feedstock manager, as a member of its consortium. SEE will work with Cyclyx to leverage their custom takeback programs to increase material recovery, allowing for higher amounts of recycled content to be used in future packaging solutions. Ron Cotterman, SEE's vice president of sustainability innovation and strategy, is sharing his industry knowledge and expertise as a member of Cyclyx's executive advisory board.

"SEE's commitment to advancing a circular economy for plastic and dedication to helping its customers to lower their carbon footprints are in line with the mission of everything that Cyclyx is trying to do," said Joe Vaillancourt, CEO of Cyclyx.

Read Sealed Air's Global Impact Report Here.

Learn More About Sealed Air's ESG Efforts Here.

Plastic Energy

View additional multimedia and more ESG storytelling from Sealed Air on 3blmedia.com.

Contact Info:
Spokesperson: Sealed Air
Website: https://www.3blmedia.com/profiles/sealed-air
Email: info@3blmedia.com

SOURCE: Sealed Air

View source version on accesswire.com:
https://www.accesswire.com/735679/Sealed-Air-Global-Impact-Report-Investing-and-Collaborating-To-Transform

FAQ

What is Sealed Air's recent investment related to recycling?

Sealed Air invested $5 million in Closed Loop Partners' Circular Plastics Fund to support plastic recycling efforts.

Who are Sealed Air's partners in developing circular packaging solutions?

Sealed Air collaborates with ExxonMobil and Ahold Delhaize USA on sustainable packaging initiatives.

What is the goal of Closed Loop Partners' Circular Plastics Fund?

The fund aims to deploy $100 million to advance scalable recycling technologies and infrastructure.

How does Sealed Air plan to increase the recyclability of its packaging?

By partnering with Cyclyx to enhance material recovery and utilize more recycled content in its products.