Three leading plastics and material science companies––Dow, LyondellBasell and NOVA Chemicals––have announced the establishment of the Closed Loop Circular Plastics Fund to invest in scalable recycling technologies, equipment upgrades and infrastructure solutions. The Fund, managed by Closed Loop Partners, and with an initial $25 million investment, invites businesses across the plastics value chain to join in advancing the recovery and recycling of plastics in the U.S. and Canada. The goal of the catalytic fund is to grow to deploy $100 million, through a combination of the Fund’s founding investors, additional corporate investors and financial institutions, in order to attract additional capital beyond the Fund’s own commitments. At scale, the Fund’s investments aim to recycle over 500 million pounds of plastic over the Fund’s lifespan.
The Closed Loop Circular Plastics Fund will invest in three strategic scalable recycling technologies area to increase the amount of recycled plastic available to meet the growing demand for high-quality, recycled content in products and packaging:
- Access – Increasing the collection of targeted polyethylene (PE) and polypropylene (PP) plastics by advancing current and next-generation material collection systems, including transportation, logistics and recycling sortation technologies and infrastructure.
- Optimization – Upgrading recycling systems to more efficiently aggregate, classify and sort the targeted plastics to increase the total amount of high-quality plastic, including food-grade and medical-grade plastic, sent for remanufacturing.
- Manufacturing– Investing in facilities and equipment that manufacture ﬁnished products, packaging or related goods using recycled content, including recycled PE and PP.
Since its founding in 2014, Closed Loop Partners’ existing portfolio of more than 50 investments in scalable recycling technologies has diverted more than 4,600 million pounds of material from landfills and back into manufacturing supply chains.” Building on this, the Closed Loop Circular Plastics Fund will invest in technologies, companies and infrastructure projects that enhance the recovery and recycling of target materials including post-consumer and post-industrial PE and PP in the U.S. & Canada.
The Fund will deploy a flexible mix of debt and equity financing, and will also aim to stimulate mainstream co-investments, including those from financial institutions, into circular scalable recycling technologies for plastics to further accelerate impact at scale. With established facilities, extensive supply chain networks and markets, Dow, LyondellBasell and NOVA Chemicals are collectively well-positioned to help advance the transition to a new, more circular system. Together, they create a precedent for a sustainable future for the plastics industry, building a runway for further investments and synergies with other stakeholders in the plastics recovery and reuse value chain.
“The plastic resin manufacturers that create value for their shareholders now and in the future will be the ones that ensure that 100% of their products are safely recycled or reused, and never discarded in a landfill or elsewhere in our ecosystem. We look forward to investing in sustainable infrastructure and innovations that enable and encourage other companies, including investors in the Closed Loop Circular Plastics Fund, to deploy significantly more of their own capital to further scale these critical solutions,” says Ron Gonen, Founder & CEO of Closed Loop Partners. “Alongside championing scalable reusable packaging models and innovative new materials, growing recycling and circular economy infrastructure in the U.S. and Canada plays a critical role in eliminating plastic waste and reducing the need for the costly extraction of raw materials.”
The current supply of recycled plastics meets only 6% of demand for the most commonly used plastics in the U.S. and Canada. Systemic bottlenecks, misaligned incentives and policies, technological inefficiencies and outdated equipment across the plastics recovery system contribute to millions of tons of plastic going to waste in landfills and oceans. Increasing the recovery and recirculation of plastics could help meet an addressable market for plastics with potential revenue opportunities of $120 billion in the U.S. and Canada alone. Within this, significant opportunity exists to bolster the recovery of PE and PP, based on these materials’ market desirability and expected production amounts, as well as their wide variety of applications across industries, including healthcare and food and beverage.
“Dow is investing with Closed Loop Partners as another way to catalyze additional investment in recycling technology and infrastructure in the U.S. & Canada. Plastic materials are essential to a sustainable, low carbon economy and this fund, alongside other investments and collaborations we are engaged in, will help move society toward a circular economy, ensuring plastic is not lost to the environment,” says Jim Fitterling, Chairman and CEO of Dow. “But our commitment and capital alone are not enough to end plastic waste. We urge others, across all sectors of society, to join us and scale the technologies, partnerships and capital needed to build the circular plastics supply chains of the future.”
“Addressing the challenge of plastic waste in the environment requires collective action on multiple fronts. As a company, we have been executing a multi-pronged strategy that includes innovations in mechanical recycling, the advancement of molecular recycling technologies and the incorporation of renewable feedstocks into our manufacturing,” says Bob Patel, CEO of LyondellBasell. “In addition to our company’s efforts, further enhancements to recycling infrastructure are critical to capturing the value of used plastics and advancing the circular economy. We believe successful joint investment can transform the challenges of plastic waste into sustainable business opportunities.”
“NOVA Chemicals is eager to join forces with industry leaders who share our same commitment to building a circular economy for plastics,” says Luis Sierra, President and CEO of NOVA Chemicals. “Innovation is key to our collective success. If we can create plastic products that are easier to recycle, perform with less materials, incorporate more recycled content and invest in the recycling and recovery infrastructure, we will achieve a zero plastic waste future. We are ready to work across the value chain, developing new solutions that will shape a better tomorrow.”
For more information, visit www.closedlooppartners.com.
Fire Extinguisher Barcode Inspection Software
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Easy to Use – Fire Extinguisher Barcode System
IMEC Inspection Software is an easy to use fire extinguisher barcode system which will schedule, manage, track and report on any type of inspection, including Facility, Equipment, People etc. Use Cases include fire extinguisher barcode system, eyewash stations, emergency showers, equipment or asset inspection system or facilities inspection software. When used as a fire extinguisher barcode system Inspections are performed via the Mobile app which is available on iOS, Android and Windows devices. The user identifies the inspection point by scanning a barcode, or picking from a list based on location. The Mobile App which is part of the fire extinguisher barcode system will then display the list of custom Forms or Checklists. The fire extinguisher barcode system inspections can be performed offline if no internet connection is available.
The IMEC Mobile Safety App can also be used as a Fire Door Inspection App and with the Web based flexible Forms Manager the solution can be used as a Fire Door Inspection Software Solution also. Fire Door Inspection Software is used is large facilities with large quantities of Fire Doors like Hospitals, Universities and also Cruise Ships.
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IMEC Inspection Software can be deployed as a full Fire Life Safety Inspection Software solution that can be used to manage an organization’s full range of fire and life safety inspections. The IMEC Fire Life Safety Inspection Software can manage any type of inspection, use cases include Fire Doors, Fire Pumps, Eyewash Stations, Emergency Lights, Emergency Showers, Grease Traps, AED’s and many more. The IMEC Fire Life Safety Inspection Software can manage any type safety equipment or asset inspection. The user identifies the inspection point by scanning a barcode, or picking from a list based on location. The Mobile App will then display the list of custom Forms or Checklists. The solution can be used within Hospitals as a Hospital Inspection Software solution to manage all hospital inspections and Environment of Care Rounds. Hospital Inspection Software makes Daily, Weekly and Monthly Inspections more efficient and accurate. IMEC’s Hospital Inspection Software allows health care and facility managers to monitor the inspections across their entire organization to aid compliance and increase efficiency.
EH&S Inspection Software
IMEC’s EH&S Inspection Software can be used to manage any type of EHS Inspection and allows manager to record safety observations while performing facility tours which can improve overall workplace safety. This EH&S Inspection Software solution that can create corrective actions as a result of inspection failures for inspections performed using the Safety Inspection Software Mobile App. Corrective actions are allocated to the appropriate persons, with deadlines for resolution which will greatly reduce the time, effort and cost of managing compliance inspections. Implementing an EH&S Inspection software solution, where users using the Safety Inspection Software Mobile App can easily perform inspections in the field aids compliance, reduces risk and standardizes the inspection process within your organization.
Asset Inspection Management Software
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Lock Out Tag Out Software Solutions
IMEC’s Lock Out Tag Out Software Solutions allow a LOTO procedure to be defined for each piece of equipment that requires LOTO to be managed within the system. Equipment can be managed from both Mobile and Web App. Isolation points for the each piece of equipment are managed, images associated with both the piece of equipment and isolation points can be annotated to include energy source icon, arrows, sequence etc. Lock Out Tag Out Procedures can be authored using the Mobile App with version control and with an approval workflow. Lock Out Tag Out Procedures are executed using the Mobile App on any Smart Phone or Tablet. Lockout Tagout procedures are initiated by the user identifying the piece of equipment by either scanning QR Code or selecting the piece of equipment from a list. A complete history of completed Lockout Tagout Procedures is recorded. The status for the piece of equipment can be updated after LOTO is complete – Locked / Unlocked. An Audit option on the Mobile App allows a procedure to be reviewed without performing LOTO on the piece of equipment. Corrective Actions can be created for any Non-conformances or changes required recorded during the Procedure Review. Data Analytics within the IMEC Lock Out Tag Out Software Solutions provide machine downtime analysis to aid in operational efficiency and investment decisions.
Hazardous Waste Management Software
HazMat T&T is a hazardous waste management software solution designed for Environmental Service Companies and companies who generate a large quantity of hazardous waste. The solution tracks hazardous waste from cradle to grave aiding compliance, providing accurate waste inventory, increasing waste handling efficiency, reducing risk and also helps manage waste costs. HazMat T&T Hazardous Waste Management Software can be deployed in a number of deployment scenarios, from Large Hazardous Waste Generators, tracking their hazardous waste at their site to Environmental Service and Waste Management Companies using it track and manage hazardous waste at transfer and disposal sites.
IMEC Technologies provides Safety Management Software to increase worker safety and aid compliance. IMEC’s Safety Management Software will manage inspections and audits, provides hazard identification, incident reporting, management of corrective and preventative actions from generation to closure. IMEC provides lock out tag out software solutions that will allow users to create lockout tagout procedures using an intuitive Mobile App and Manage Lockout Tagout Procedures, also the Review and Execution of those Lockout Tagout Procedures using the Mobile App. Annual Lockout Tagout Procedures audits are conducted using a Mobile App. The Mobile Inspection App allow users to perform inspections and audits, for example the system can be used as a Fire Extinguisher Barcode Inspection Software system to manage monthly fire extinguisher inspections and general fire safety inspections and also to record safety observations and manage corrective actions, anywhere and anytime. The solution can be used as a fire extinguisher barcode inspection software system or life safety inspection system to aid compliance in Higher Education, Healthcare, Industrial and Commercial Organizations. Benefits from a Fire Extinguisher Barcode System include the elimination of paperwork and reducing the burden of compliance with regulations such as NFPA, The Joint Commission. The Mobile App can also be used as a Fire Door Inspection App and with the flexible Forms Manager the solution can be used as a Fire Door Inspection Software Solution also. Fire Door Inspection Software is used is large facilities with large quantities of Fire Doors like Hospitals, Universities and also Cruise Ships. The Incident Reporting App allows users to easily and quickly report incidents, hazards and near-misses, these are then sent to the appropriate people for action and are managed to closure. Web Apps provide features such as, setup, management, scheduling tools, analysis, reporting and dashboards etc with the ability to report incidents to government bodies such as OSHA and RIDDOR. HazMat T&T is a hazardous waste management software solution designed for Environmental Service Companies and companies who generate a large quantity of hazardous waste. The solution tracks hazardous waste from cradle to grave aiding compliance, providing accurate waste inventory, increasing waste handling efficiency, reducing risk and also helps manage waste costs. HazMat T&T Hazardous Waste Management Software can be deployed in a number of deployment scenarios, from Large Hazardous Waste Generators, tracking their hazardous waste at their site to Environmental Service and Waste Management Companies using it track and manage hazardous waste at transfer and disposal sites. For more information visit our website www.imectechnologies.com