An Australian billionaire known for making his money through iron ore mining wants to change the plastics recycling industry, and he’s pledging US$300 million to do just that.
According to www.plasticnews.com, this will be focussed on chemical recycling:
“There’s all sorts of recycling. The only recycling I’m talking about is depolymerization and repolymerization,” where plastics can have “almost an infinite life,” Forrest said.
“I’m not talking mechanical. Mechanical really only has a limited life. It doesn’t provide the mass abundance that we need for the industry. We need hundreds of millions of tons of plastic each year. We can’t get that out of mechanical recycling. But you can certainly get that out of chemical recycling,” he said.