business news

Toyobo & 11 firms tie up to form R Plus Japan for plastic recycling

Date: July 01, 2020 Nandita Bhardwaj Nandita Bhardwaj
Toyobo & 11 firms tie up to form R Plus Japan for plastic recycling 
Toyobo Co. Limited has entered into a collaboration with 11 other companies to jointly form a new company called R Plus Japan Limited. The newly formed organization aims to facilitate plastic recycling to effectively address plastic-associated issues and create a more sustainable society.



As per sources, a major part of the Japanese plastic consumption other than PET bottles has been found ending up in incinerated conditions. R Plus Japan’s latest technology follows the chemical recycling approach that involves the direct decomposition of PET bottles and other plastic products to basic chemicals comprising benzene, xylene, toluene, ethylene, and propylene. This technology further simplifies the recycling process as against the conventional method that demands liquefaction. This process is also expected to decrease carbon dioxide emissions in addition to energy consumption. Large-scale application of this technology could ensure effective and increased recycling of used plastics.



Since its inception, Toyobo Group has been known for providing several products and technologies to address social issues aligning with its corporate philosophy of “Jun-Ri-Soku-Yu" envisioned by its founder Eiichi Shibusawa. The company is essentially focused on the creation of a more sustainable society via development of products and technologies that reduce environmental consequences. As a crucial step in this direction, the group has raised the proportion of plant-derived raw materials and recycled resin in its major plastic products inclusive of highly functional bioplastics.



For the uninitiated, R Plus Japan has started operation in June 2020 and focuses on promoting the research and development of eco-friendly plastic recycling technologies in collaboration with American biochemical venture company, Anellotech, Inc. R Plus Japan has planned to launch this technology in 2027 to help solve common plastic-associated global issues and will involve joint effort with producers of monomers, polymers, containers, and packaging films; companies that sort collected plastics; beverage makers, and trading companies. R Plus Japan is situated in Minato Ward, Tokyo, and is headed by President Tsunehiko Yokoi.



 



Source Credits:



https://markets.businessinsider.com/news/stocks/toyobo-11-other-companies-jointly-launch-r-plus-japan-ltd-to-recycle-used-plastics-1029352245

About the author

View All Posts

Nandita Bhardwaj

Nandita holds a management degree with specialization in marketing, and boasts of a short-term experience in the field of recruitment. Following her passion for writing however, she decided to pursue a career in the field of content development. Presently, Nandita pens down news pieces for newsorigins.com, spanning the verticals of business, finance, and technology.