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Clean Planet Energy today announced a new project collaboration with private equity firm Crossroads Real Estate to finance Clean Planet Energy's flagship ecoPlant currently under construction in Teesside, North East England.
This is the first of 10 new ecoPlants that Crossroads Real Estate and Clean Planet Energy aim to jointly build and operate across the UK. The new joint venture, which aims to tackle the plastic waste crisis , could translate into more than 400 million pounds of new British investment for the future construction of these facilities. Locations in Lincolnshire, Wiltshire, Lancashire and South Wales have been selected to lead the potential rollout of the ten facilities, with more to be announced in the coming months. Clean Planet's ecoPlants are advanced recycling green facilities, intended to process plastic waste non-recyclable and difficult to recycle that would otherwise end up in landfills. Each ecoPlant has the capacity to process 20,000 tons of plastics each year and convert this waste into: a) low-sulfur fuels to replace fossil fuels in the transportation and heavy machinery sectors, and b) circular petrochemical feedstocks, including gasoline, which are used to make new plastic products without the need for refineries to use fossil raw materials. Clean Planet Low Sulfur Diesel can reduce greenhouse gas (GHG) emissions by 75% compared to using traditional diesel; the joint venture could reuse more than 200,000 tons of hard-to-recycle plastic waste each year in the circular supply chain. The news comes during the celebration of COP27, in which world leaders seek solutions to reduce global GHG emissions and plastic pollution. Data from 2021 shows that the UK continues to generate more than 2 million tonnes of plastic waste each year, of which more than 60% cannot be recycled. In November 2022, the UK Government's Environment, Food and Rural Affairs (EFRA) Committee published a report to accelerate the reduction of plastic waste, emphasizing advanced recycling policies as a key recommendation. By developing new ecoPlants across the UK, Clean Planet Energy and Crossroads Real Estate are opening the door to reusing traditionally non-recyclable plastic waste into sustainable and circular products. They reduce plastic pollution and waste going to landfills in the UK, as well as greenhouse gas emissions if used as substitutes for low-carbon fuels. FULL PRESS RELEASE: link( PRESSAT)
ContactContact name: Alison LancasterContact description: Alison LancasterContact phone: 03300431216