New Tech Breakthrough Aims To Solve The World's Plastic Waste Problem
Plastics remanufacturing is the industry everyone wishes they’d gotten into earlier, with McKinsey seeing as much as $75 billion in economic opportunity by 2035 for technologies capable of putting the world’s plastic waste back to work. And Denovia has just taken its biggest step toward capturing a piece of that market, signing a strategic framework with a major international polyester producer that could eventually take its technology into billions of pounds of annual processing capacity.
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Key Facts
- Fact 1: Plastics remanufacturing is the industry everyone wishes they’d gotten into earlier, with McKinsey seeing as much as $75 billion in economic opportunity by 2035 for technologies capable of putting the world’s plastic waste back to work.
- Fact 2: At the one billion pound mark alone, Denovia would be handling roughly 454,000 tonnes of plastic, enough to fill around 18,000 semi trucks.
- Fact 3: Lined up bumper to bumper, that convoy would stretch nearly 240 miles, almost the entire length of the Grand Canyon.
- Fact 4: More than 400 million tonnes of plastic are produced globally every year, while only a fraction makes its way back into usable material.
Plastics remanufacturing is the industry everyone wishes they’d gotten into earlier, with McKinsey seeing as much as $75 billion in economic opportunity by 2035 for technologies capable of putting the world’s plastic waste back to work. And Denovia has just taken its biggest step toward capturing a piece of that market, signing a strategic framework with a major international polyester producer that could eventually take its technology into billions of pounds of annual processing capacity.
The agreement starts with a planned commercial facility capable of processing tens of millions of pounds of material every year. Following technical and commercial validation, that will expand into multiple facilities handling billions of pounds of waste annually. At the one billion pound mark alone, Denovia would be handling roughly 454,000 tonnes of plastic, enough to fill around 18,000 semi trucks.
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