SEE, ExxonMobil, and Ahold Delhaize USA Collaborate on Groundbreaking Circularity Initiative

Rhea-AI Summary

SEE (NYSE: SEE) has partnered with ExxonMobil and Ahold Delhaize USA to launch an innovative recycling initiative targeting flexible plastics from the food supply chain. This pioneering project aims to produce certified circular food-grade packaging, starting this summer. The collaboration seeks to enhance the sustainability of packaging materials and promote a circular economy, keeping plastics out of landfills. The project is expected to validate the economic viability of advanced recycling technology and improve food safety through higher recycling rates.

Positive

• Collaboration with ExxonMobil and Ahold Delhaize USA on advanced recycling initiative.
• Project aims to create certified circular food-grade packaging from recycled plastics.
• Expected to start this summer, indicating a timely implementation of sustainability measures.

Negative

• None.

Multi-industry engagement will create sustainable value from the recycling of flexible plastics

CHARLOTTE, N.C.--(BUSINESS WIRE)-- SEE (NYSE: SEE), ExxonMobil, and Ahold Delhaize USA announced today their collaboration on an advanced recycling initiative, the first of its kind in the U.S. The project recycles flexible plastics from the food supply chain and remakes them into new, certified circular food-grade packaging. The initiative is expected to begin this summer and scale over time.

“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, VP, Health & Sustainability, 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.”

A critical challenge facing the food industry is driving a circular economy for plastics using packaging materials that have strict hygiene and performance requirements for food protection and distribution. Recovering these essential packaging materials requires innovative recycling solutions beyond traditional mechanical recycling.

The collaboration between SEE, ExxonMobil, and Ahold Delhaize USA will help increase the use of recycled content by validating the technical and economic viability of a certified circular system based on advanced recycling technology and mass balance attribution. Flexible plastics will be designed to be collected, recycled, and repurposed into new food packaging. The project will help keep used flexible plastics out of landfills, increase the number of times essential plastics can be recycled, and ensure the safety and quality of packaged foods.

“SEE is leading the packaging industry by showing how high-performance packaging materials can be designed to be remade. Advanced recycling is key to these valuable materials being collected and remanufactured,” said Ted Doheny, SEE President and CEO. “Our collaboration with ExxonMobil is opening new recycling possibilities and by partnering with leading retail group Ahold Delhaize USA, we are paving the way for our industry to protect perishable foods while creating a low-carbon, circular economy.”

“We are delighted to work with SEE and Ahold Delhaize USA on this important project,” said David Hergenrether, Vice President, Polyethylene, ExxonMobil. “This relationship is an example of the value chain collaborations needed to enable a more circular economy. We are excited that certified circular plastics from our Exxtend™ technology for advanced recycling will play an important role.”

About SEE

Sealed Air (NYSE: SEE) is in business to protect, to solve critical packaging challenges, and to make our world better than we found it. Our automated packaging solutions systems create a safer, more resilient and less wasteful global food supply chain, enable e-commerce, and protect goods transported worldwide.

Our globally recognized brands include CRYOVAC^® brand food packaging, SEALED AIR^® brand protective packaging, AUTOBAG^® brand automated systems, BUBBLE WRAP^® brand packaging, and SEE™ Touchless Automation™ solutions.

SEE’s Operating Model, together with our industry-leading expertise in materials, engineering and technology, create value through more sustainable, automated, and digitally connected packaging solutions.

We are leading the packaging industry in creating a more environmentally, socially, and economically sustainable future and have pledged to design or advance 100% of our packaging materials to be recyclable or reusable by 2025, with a bolder goal to reach net-zero carbon emissions in our global operations by 2040. Our Global Impact Report highlights how we are shaping the future of the packaging industry. We are also committed to a diverse workforce and inclusive culture through our 2025 Diversity, Equity and Inclusion pledge.

SEE generated $5.5 billion in sales in 2021 and has approximately 16,500 employees who serve customers in 114 countries/territories. To learn more, visit sealedair.com.

About ExxonMobil

ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com, the Energy Factor and exxonmobilchemical.com/exxtend.

About Ahold Delhaize USA

Ahold Delhaize USA, a division of Netherlands-based Ahold Delhaize, is the parent company for Ahold Delhaize's U.S. companies, including its uniquely local brands, Food Lion, Giant Food, The GIANT Company, Hannaford and Stop & Shop, Retail Business Services, a U.S. support services company providing services to the brands, Peapod Digital Labs, its digital, commercial and e-commerce engine and ADUSA Supply Chain companies. When considered together, the local brands of Ahold Delhaize USA comprise the largest grocery retail group on the East Coast and the fourth largest grocery retail group in the nation, operating more than 2,000 stores and distribution centers across more than 20 states and serving millions of customers each week through their channel of choice.

Website Information

We routinely post important information for investors on our website, sealedair.com, in the Investors section. We use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 concerning our business, consolidated financial condition and results of operations. Forward-looking statements are subject to risks and uncertainties, many of which are outside our control, which could cause actual results to differ materially from these statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by such words as “anticipate,” “believe,” “plan,” “assume,” “could,” “should,” “estimate,” “expect,” “intend,” “potential,” “seek,” “predict,” “may,” “will” and similar references to future periods. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding expected future operating results, expectations regarding the results of restructuring and other programs, anticipated levels of capital expenditures and expectations of the effect on our financial condition of claims, litigation, environmental costs, contingent liabilities and governmental and regulatory investigations and proceedings. The following are important factors that we believe could cause actual results to differ materially from those in our forward-looking statements: global economic and political conditions, currency translation and devaluation effects, changes in raw material pricing and availability, competitive conditions, the success of new product offerings, consumer preferences, the effects of animal and food-related health issues, pandemics, changes in energy costs, environmental matters, the success of our restructuring activities, the success of our financial growth, profitability, cash generation and manufacturing strategies and our cost reduction and productivity efforts, changes in our credit ratings, the tax benefit associated with the Settlement agreement (as defined in our most recent Annual Report on Form 10-K), regulatory actions and legal matters, and the other information referenced in the “Risk Factors” section appearing in our most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, and as revised and updated by our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking statement made by us is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220414005154/en/

Christina Griffin

christina.griffin@sealedair.com

704.430.5742

Source: Sealed Air Corporation

FAQ

What is SEE's collaboration with ExxonMobil about?

SEE is collaborating with ExxonMobil and Ahold Delhaize USA to recycle flexible plastics and create certified circular food-grade packaging.

When does the recycling initiative by SEE begin?

The recycling initiative is expected to begin this summer.

What is the goal of SEE's recycling project?

The goal is to promote a circular economy by making food-grade packaging from recycled plastics.

Who are the partners in the SEE recycling initiative?

The partners are SEE, ExxonMobil, and Ahold Delhaize USA.

How will the SEE initiative impact plastic waste?

The initiative aims to keep plastics out of landfills and increase recycling rates for food-grade packaging.