US-based company Freepoint Eco-Systems, specializing in plastic waste solutions, is set to collaborate with Turkish waste management firm Biotrend.

Source: Packaging Gateway

Their partnership aims to develop innovative recycling initiatives to redirect end-of-life plastic waste away from landfills and incineration.

The joint projects will involve converting waste plastic into pyrolysis oil through chemical recycling. This oil is crucial for producing petrochemical products, including resins for creating new plastic materials.

Biotrend is establishing an advanced plastic recycling facility in Aliağa, İzmir, Turkey, with an annual processing capacity of 60,000 tons. On the other hand, Freepoint Eco-Systems will leverage its expertise in constructing and operating large-scale recycling facilities that convert waste plastic into pyrolysis oil.

This strategic partnership strengthens Biotrend’s leadership in plastic recycling and fosters a more sustainable future.

Biotrend CEO Özgür Umut Eroğlu

Additionally, the strategic partnership plans to launch projects across Turkey, the Balkans, and Central Asia, aiming for a combined annual capacity to recycle 250,000 tons of plastic waste.

Following a successful due diligence process, Freepoint Eco-Systems intends to acquire around 10% of Biotrend's shares through a private placement, involving an investment by Freepoint in newly issued shares.

The expansion of our advanced recycling footprint into Turkey, the Balkans and Central Asia represents an important step forward in our ongoing effort to help solve the plastic waste problem on a global basis.

Freepoint Eco-Systems president Oscar Gutierrez

In May 2024, Freepoint Eco-Systems partnered with Dow on a feedstock agreement, securing 65,000 tonnes per year of circular feedstock.