Biotrend and Freepoint Eco-Programs Worldwide Ltd. have introduced a possible strategic partnership geared toward increasing their footprint within the round plastics financial system. By leveraging their shared imaginative and prescient, this collaboration will improve their presence within the superior recycling business.
Combining Experience for a Sustainable Future
In accordance with the official assertion, “In reference to this enterprise, Biotrend and Freepoint Eco-Programs plan to develop superior recycling tasks that may divert end-of-life waste plastic from landfills and incineration. The tasks will rework waste plastic by way of chemical recycling into pyrolysis oil. This product is used as a feedstock within the manufacturing of petrochemical merchandise, together with the resins used to make new plastic.”
Based in 2017, Biotrend is a number one Turkish firm that tackles waste administration and creates clear vitality. The corporate use superior expertise to transform waste from properties, farms, and forests into priceless assets, together with recycled supplies, clean-burning gasoline, and even electrical energy. It has 17 services throughout Turkey that assist cut back waste and foster a extra sustainable future.
Due to this fact, by way of this partnership, the corporate brings its experience and its growth of a 60,000-ton-per-year superior plastic recycling facility in Aliağa, İzmir, Turkey.
In the meantime, Freepoint Eco-Programs focuses on constructing, proudly owning, and working large-scale services that convert waste plastic into pyrolysis oil to make new plastic. The corporate and its associates are creating services in North America, Europe and Southeast Asia, together with a flagship superior recycling facility in Ohio, USA. The ability may have the capability to recycle about 90,000 tons of waste plastic per 12 months and is projected to be one of many world’s largest upon completion in late 2024.
Based in 2011, Freepoint is a Stamford-based international service provider specialising in bodily commodities. Freepoint Eco-Programs Worldwide Ltd., an affiliate of Freepoint Commodities LLC, supplies eco-friendly merchandise and options to its clients.
Be a part of Forces to Sort out Plastic Air pollution
Biotrend’s CEO Özgür Umut Eroğlu stated, “This strategic partnership strengthens Biotrend’s management in plastic recycling and fosters a extra sustainable future.” He added, “We’re excited to collaborate with Freepoint Eco-Programs and consider this partnership will carry vital success to each firms.”
Oscar Gutierrez, President of Freepoint Eco-Programs Worldwide, expressed, “The growth of our superior recycling footprint into Turkey, the Balkans and Central Asia represents an essential step ahead for Freepoint Eco-Programs in its ongoing effort to assist resolve the plastic waste drawback on a worldwide foundation.” He added, “Our firms share the objective of constructing superior plastic recycling infrastructure required to speed up the event of round financial system options for the advantage of the atmosphere. Biotrend has a powerful observe report of working built-in options for municipal stable waste in Turkey, and we sit up for constructing this new plastic recycling infrastructure collectively.”
On this strategic partnership, Biotrend and Freepoint Eco-Programs are tackling plastic air pollution in a significant method. Their collaboration goals to develop superior recycling tasks throughout Turkey, the Balkans, and Central Asia. This bold initiative has the potential to divert a staggering 250,000 tons of waste plastic from landfills and incineration yearly, considerably lowering plastic air pollution within the area.
As a part of the potential 50/50 enterprise, the events would create a strategic funding firm to develop and personal future tasks. As well as, after finishing due diligence, Freepoint Eco-Programs would purchase roughly 10% of Biotrend’s shares by way of a non-public placement involving an funding in newly issued shares. Proceeds from this capital improve can be used to develop and fund superior recycling services, together with the Aliağa facility.
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