In recent years, there has been a wave of innovation in the field of plastic recycling and upcycling.
The circular economy is a $4.5 trillion opportunity, according to a recent Accenture Strategy report. Here are just a few examples of the exciting technologies and approaches that are helping to create a circular economy and save the planet:
Chemical Recycling
Traditional plastic recycling involves melting down plastic waste and reprocessing it into new products. But some plastics are difficult to recycle in this way, and often end up in landfills or incinerators. Chemical recycling offers a solution to this problem. This technology breaks down plastic waste into its chemical building blocks, which can then be used to create new plastics or other products. Companies like Carbios and Loop Industries are leading the way in developing chemical recycling technology.
Upcycling
Upcycling is the process of turning waste materials into products of higher value. This approach not only reduces waste, but also creates new revenue streams and jobs. One example of upcycling in the plastic industry is the company Terracycle, which turns plastic waste into outdoor furniture and other products. Another example is the Dutch company Fairphone, which makes smartphones from recycled and fair trade materials.
Bioplastics
Bioplastics are plastics made from renewable resources such as corn starch or sugarcane. Unlike traditional plastics, bioplastics can be composted and biodegraded, reducing their impact on the environment. Bioplastics are still a relatively new technology, but companies like NatureWorks and Braskem are leading the way in their development and commercialization.
Closed-Loop Systems
Closed-loop systems are designed to keep materials in circulation, rather than allowing them to become waste. In the plastic industry, this means creating systems where plastic products are collected, recycled, and turned into new products in a continuous cycle. One example of a closed-loop system in the plastic industry is the Loop system, which partners with major consumer brands like PepsiCo and Procter & Gamble to create a closed-loop system for plastic packaging.
Plastic-Eating Microbes
Finally, there are the plastic-eating microbes. Scientists have discovered that certain bacteria are able to break down plastics into their component parts, which can then be used to create new products. This technology is still in the early stages of development, but has the potential to revolutionize the way we think about plastic waste. Researchers at the University of Portsmouth have already discovered a strain of bacteria that can break down PET plastic, commonly used in bottles and packaging.
Digital technologies
Digital technologies such as blockchain and IoT (Internet of Things) are being used to create more efficient and transparent supply chains. Provenance and Circular IQ are two companies that use blockchain technology to create more sustainable and traceable supply chains.
By embracing new technologies and approaches, we can create a circular economy that turns waste into a valuable resource, benefiting the environment and creating new opportunities for innovation and growth. From chemical recycling to upcycling to bioplastics and beyond, the innovations in this field are truly awe-inspiring. By embracing these technologies and approaches, we can create a more sustainable future for our planet.
