Multi-Million Dollar Investment Aims to Expand Plastics Recycling

SEATTLE (Scrap Monster): The Clyde, Ohio-based plastics reclaimer Evergreen has been selected as the next recipient of investment by Every Bottle Back initiative. The $5 million investment will be equally shared by the American Beverage Association in partnership with Closed Loop Partners and Closed Loop Partners’ Infrastructure Fund.

The investment will be in support of Evergreen’s $22 million expansion project that aims to double production capacity by end of next year. It will finance a new building at the plant, where recycled rPET will be processed and ground into pellets.

The investment will expand Evergreen’s service to treat recycled PET plastic into food-grade recycled rPET pellets, which will be used to manufacture new bottles. The expansion project will result in production of at least 58 million pounds of food-grade PET in the first year. Over the next decade, it aims to produce at least 600 million pounds.

The project testifies the power of private-public partnerships aimed at building a circular economy for plastic. The partnership will help to capture 100% recyclable plastic bottles, which will be remade into new bottles, thereby reducing plastics in the environment. The bottle-bottle recycling initiative will create a circular economy, in addition to meeting the demand for food-grade recycled content.

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