CPCA Member Dow Chemicals Launches Closed Loop Circular Plastics Fund with LyondellBasell and NOVA
Plastic waste continues to be a huge problem because much of the plastics produced winds up in landfills and often ends up in water supplies. The cumulative production of plastic has already surpassed eight billion metric tons worldwide, with further increases expected in the coming decades. Meanwhile, the current supply of recycled plastics meets just 6% of demand for the most common plastics in the U.S. and Canada because of technical or market barriers.
To help address these concerns, three leading plastics and material science companies–Dow, LyondellBasell and NOVA Chemicals–have established 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.
See more about the Closed Loop Circular Plastics Fund here:
https://www.closedlooppartners.com/closed-loop-circular-plastics-fund/