PureCycle Technologies and Mitsui & Co. Ltd. (Mitsui) announced a signed heads of agreement (HOA) to develop and operate a polypropylene (PP) recycling plant in Japan. Mitsui is a global trading and investment company with a diversified business portfolio based in Tokyo. In September of 2021, the two sides announced a signed memorandum of understanding.
The two sides are targeting completion of a plant in 2026. The first plant is designed to transform PP waste into an ultra-pure recycled (UPR) resin and expected to have an annual capacity of 59,000 metric tons (130 million pounds).