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Alterra’s Akron Plant in Ohio, 2024 Source: Alterra
Alterra’s Akron Plant in Ohio, 2024
04.11.2024

Cooperation to build chemical recycling plants

Neste, Alterra and Technip Energies have signed a collaboration agreement to advance the circularity of plastics by providing the industry a standardized technology solution for chemical recycling, also referred to as “advanced recycling”.

The partners aim to globally offer a standardized modular solution, based on Alterra’s proprietary liquefaction technology, to parties interested in building capacity for chemical recycling.

This solution will come in the form of readily designed and engineered liquefaction plant modules, which will allow for lower pre-investment costs, accelerated implementation time, high predictability on project economics and reduced overall capital costs. Contributing to more effective execution of chemical recycling capacity projects, the solution helps the industry to reduce dependency on virgin fossil resources and accelerate the circularity of polymers and chemicals.

Neste, Alterra and Technip Energies have signed a collaboration agreement to advance the circularity of plastics by providing the industry a standardized technology solution for chemical recycling, also referred to as “advanced recycling”.

The partners aim to globally offer a standardized modular solution, based on Alterra’s proprietary liquefaction technology, to parties interested in building capacity for chemical recycling.

This solution will come in the form of readily designed and engineered liquefaction plant modules, which will allow for lower pre-investment costs, accelerated implementation time, high predictability on project economics and reduced overall capital costs. Contributing to more effective execution of chemical recycling capacity projects, the solution helps the industry to reduce dependency on virgin fossil resources and accelerate the circularity of polymers and chemicals.

Alterra’s technology is a thermochemical liquefaction process, which converts hard-to-recycle plastics into a liquid hydrocarbon product. This liquid intermediate product can then be further refined into high-quality raw materials for new plastics and chemicals. As of today, Neste alone has processed more than 6,000 tons of plastic-derived feeds, including ISCC PLUS certified oil from Alterra’s industrial-scale site in Akron, Ohio.

Combining the expertise of three companies in one solution
Alterra and Neste started collaborating in chemical recycling in 2021, jointly improving aspects of Alterra’s technology and creating respective value chains. Alterra and Technip Energies started their collaboration in chemical recycling in 2022. The three companies now join efforts in a unique endeavor: Alterra and Neste will license the liquefaction technology and Technip Energies will design, engineer and deliver the standardized liquefaction plant solution to interested parties globally.

30.10.2024

World’s first sports t-shirt made from 100% textile waste

For the first time, a piece of clothing is made entirely from textile waste – no bottles, no packaging, no virgin plastic. 100% biorecycled fibers. By developing and industrializing CARBIOS’ enzymatic depolymerization technology to achieve 100% “fiber-to-fiber” recycling, the consortium collectively advances the textile industry's shift towards a circular economy.

CARBIOS, a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, and its “fiber-to-fiber” consortium partners On, Patagonia, PUMA, Salomon, and PVH Corp., parent company of Calvin Klein, unveil the world’s first enzymatically recycled polyester garment made from 100% textile waste using CARBIOS’ pioneering biorecycling technology.

For the first time, a piece of clothing is made entirely from textile waste – no bottles, no packaging, no virgin plastic. 100% biorecycled fibers. By developing and industrializing CARBIOS’ enzymatic depolymerization technology to achieve 100% “fiber-to-fiber” recycling, the consortium collectively advances the textile industry's shift towards a circular economy.

CARBIOS, a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, and its “fiber-to-fiber” consortium partners On, Patagonia, PUMA, Salomon, and PVH Corp., parent company of Calvin Klein, unveil the world’s first enzymatically recycled polyester garment made from 100% textile waste using CARBIOS’ pioneering biorecycling technology.

This technological feat contributes to advancing textile circularity when, today, the majority of recycled polyester is made from PET bottles, and only 1% of fibers are recycled into new fibers.  The collective achievement marks an important milestone for the consortium’s ultimate aim of demonstrating fiber-to-fiber closed loop using CARBIOS’ biorecycling process at an industrial scale, and marks an important step forward for the textile industry’s shift towards a circular economy.

A plain, white T-shirt was a deliberate choice to showcase the technological achievement that made its production possible from mixed and colored textile waste.  By using CARBIOS’ biorecycling technology, polyester is broken down using enzymes into its fundamental building blocks which are reformed to produce biorecycled polyester whose quality is on par with oil-based virgin polyester.  Petroleum can now be replaced by textile waste as a raw material to produce polyester textiles, that will in turn become raw materials again, thus fueling a circular economy, with the added benefit of a lower carbon footprint and avoidance of landfill or incineration.

The t-shirt’s production began with all consortium members (On, Patagonia, PUMA, PVH Corp. and Salomon) supplying rolls and production cutting scraps to CARBIOS in Clermont-Ferrand, France.  This textile waste consisted of some mixed blends with cotton or elastane, as well as various treatments (such as durable water repellent) and dyes which render them complex to recycle using conventional methods. The collected waste was deconstructed into its original monomers, PTA and MEG, using CARBIOS’ biorecycling technology at its pilot facility. The resulting monomers were then repolymerized, spun into yarn and woven into new fabric by external partners, demonstrating the seamless integration into existing manufacturing processes.  The resulting sports t-shirt made from 100% textile waste meets the quality standards and sustainability objectives of the apparel brands present in the “fiber-to-fiber” consortium.

CARBIOS’ demonstration plant in Clermont-Ferrand, France, has been up and running since 2021, and its first commercial plant, the world’s first industrial-scale enzymatic PET recycling plant, is currently under construction in Longlaville, France.  In addition, CARBIOS recently announced several letters of intent with PET producers in Asia and Europe, confirming global interest in its biorecycling technology and advancing the international roll-out of its licensing model.

Source:

Carbios

30.10.2024

Triggers crisis in Europe’s textiles sorting and recycling sector a domino effect?

Europe’s textile sorting and recycling industry is currently experiencing an unprecedented crisis, even more significant than during the COVID-19 pandemic. The sector is under immense pressure due to several global disruptions, including the war in Ukraine, logistical challenges in Africa, and the rise of ultra-fast fashion.

As a result, there is an oversupply of used textiles and a sharp decline in demand from traditional export markets. The trade in used textiles between the EU and non-EU decreased from 464,993 tonnes in 2022 to 430,185 tonnes in 2023. Looking at Germany alone, the exports of used textiles to Ghana (one of Europe’s key export markets) have decreased from 7911.2 tonnes in 2020 to 4532.9 tonnes in 2023. Additionally, demand for recycled materials remains low: recycled cotton had an estimated production volume of 319 000 tonnes in 2023 (compared to 24.4 million tonnes of virgin cotton) globally.

Europe’s textile sorting and recycling industry is currently experiencing an unprecedented crisis, even more significant than during the COVID-19 pandemic. The sector is under immense pressure due to several global disruptions, including the war in Ukraine, logistical challenges in Africa, and the rise of ultra-fast fashion.

As a result, there is an oversupply of used textiles and a sharp decline in demand from traditional export markets. The trade in used textiles between the EU and non-EU decreased from 464,993 tonnes in 2022 to 430,185 tonnes in 2023. Looking at Germany alone, the exports of used textiles to Ghana (one of Europe’s key export markets) have decreased from 7911.2 tonnes in 2020 to 4532.9 tonnes in 2023. Additionally, demand for recycled materials remains low: recycled cotton had an estimated production volume of 319 000 tonnes in 2023 (compared to 24.4 million tonnes of virgin cotton) globally.

Consequently, prices for second-hand textiles have plummeted, while the costs of collection, sorting, and recycling have skyrocketed. Since spring 2024, the prices for sorted second-hand garments no longer cover processing costs, leading to major cash flow problems for sorting operators. Warehouses are becoming overwhelmed, increasing the risk of textile waste being incinerated.

In a joint statement EuRIC Textiles and Municipal Waste Europe expressed their concerns about the development of Europe’s textiles sorting and recycling sector. They have clearly specified what support they expect from Brussel:

“We call on the EU to encourage Member States to lower VAT on textile repair, reuse, and recycling activities, within the existing VAT Directive framework, and explore the possibility of introducing a tax on new, petroleum-based materials. Such measures, if adopted at national levels, would incentivise the use of recycled materials and reduce the environmental impact of virgin textile production.

This situation is likely to raise processing costs for municipalities, potentially resulting in higher waste disposal fees for residents, with the fear that the textiles will be thrown in the residual waste instead. Downstream players in the recycling chain, such as tearing and spinning mills, are also feeling the strain, leading to significant staff cuts.

To avert widespread bankruptcies, immediate financial and legislative support is essential. Short-term financial incentives for EU companies that contribute significantly to a sustainable circular textile chain are needed to safeguard the industry from collapsing. Investment in recycling technologies and infrastructure, alongside targeted support for municipalities dealing with textile waste stagnation, is crucial. We urge the EU to facilitate public-private partnerships to foster innovation in textile recycling and to scale up recycling technologies. This will help increase Europe’s capacity to process textile waste sustainably and efficiently. A swift revision of the Waste Framework Directive (WFD) and rapid implementation of Extended Producer Responsibility (EPR) schemes are also imperative.

In the mid-term, efforts should focus on making the textiles reuse and recycling sector competitive, in line with Commission President Ursula Von der Leyen’s ambition for a competitive and strong circular economy (through a future Clean Industrial Deal and Circular Economy Act). To reach this ambition, the EU needs to increase demand for recycled textiles, expand recycling capacity, and promote the use of sustainable materials through upcoming ecodesign requirements. We call for the mandatory inclusion of a percentage of recycled textile content (most preferably from post-consumer textiles) in all new textile products placed on the EU market, with a clear trajectory for increasing this percentage over the coming years. Without urgent action, Europe risks undermining its climate goals and jeopardising the future of its textile sorting and recycling industry.”

Source:

EuRIC Textiles & Municipal Waste Europe

21.10.2024

Italian textile machinery industry ready for the green transition

Maintaining a focus on innovation despite the uncertainties that characterize the current international scenario was emphasized during the General Assembly of ACIMIT, the Italian Textile Machinery Manufacturers Association, held in Milan on July 9. ACIMIT president, Marco Salvadè, showcased the data of the Italian textile machinery industry. In 2023, production decreased by 16%, settling at a value of 2.3 billion euros, as did exports, which also fell by 16% (2 billion euros).

China, Turkey, India, and the United States remain the main destinations for Italian textile machinery manufacturers. In 2023, demand for machinery in these markets was weak, but some positive signals emerged in the first quarter of the current year, especially from the Chinese market and again from Egypt, Pakistan, Brazil, and Japan. “2024 will still be a year characterized by many uncertainties,” commented Salvadè, “mainly due to the uncertainty of the geopolitical situation and fluctuations in final demand”.

Maintaining a focus on innovation despite the uncertainties that characterize the current international scenario was emphasized during the General Assembly of ACIMIT, the Italian Textile Machinery Manufacturers Association, held in Milan on July 9. ACIMIT president, Marco Salvadè, showcased the data of the Italian textile machinery industry. In 2023, production decreased by 16%, settling at a value of 2.3 billion euros, as did exports, which also fell by 16% (2 billion euros).

China, Turkey, India, and the United States remain the main destinations for Italian textile machinery manufacturers. In 2023, demand for machinery in these markets was weak, but some positive signals emerged in the first quarter of the current year, especially from the Chinese market and again from Egypt, Pakistan, Brazil, and Japan. “2024 will still be a year characterized by many uncertainties,” commented Salvadè, “mainly due to the uncertainty of the geopolitical situation and fluctuations in final demand”.

In an especially difficult international scenario and with a still sluggish market, the Italian textile machinery sector remains a leader alongside a few other Countries, such as China, Germany and Japan. Accelerating innovation remains crucial, particularly to meet the challenges that await Italian manufacturers in supporting textile companies on their sustainable transition journey.

To highlight the opportunities that the European green transition opens up for technology suppliers, the public section of the ACIMIT General Assembly addressed a very current issue: textile recycling. The EU’s legislative guidelines aim to accelerate the green and circular transition of the textile sector with various actions: from ecodesign to EPR, from waste export regulation to green claims. Meanwhile, there is a growing demand for recycled textile fibers driven by the sustainable policies of brands that should not be underestimated.

Source:

ACIMIT – Association of Italian Textile Machinery Manufacturers

VDMA Press Conference ITMA ASIA 2024 VDMA Textile Machinery
VDMA Press Conference ITMA ASIA 2024
14.10.2024

Smart technologies for green textile production at ITMA ASIA + CITME 2024

With 42 exhibiting member companies, ITMA ASIA + CITME 2024 is once again marked by a strong presence of VDMA companies. They cover nearly all different machinery chapters with a focus on spinning and man-made fibers, nonwovens, weaving, braiding, knitting & warp knitting, finishing & dyeing as well as technologies for textile recycling and processing of recycled material.
In total, the German participation at the fair is the largest from outside China.

The VDMA team in Shanghai is staffed again with colleagues from the VDMA headquarters in Germany as well as from VDMA China. With these joined forces, the team is well prepared to support the exhibiting member companies on site.

With 42 exhibiting member companies, ITMA ASIA + CITME 2024 is once again marked by a strong presence of VDMA companies. They cover nearly all different machinery chapters with a focus on spinning and man-made fibers, nonwovens, weaving, braiding, knitting & warp knitting, finishing & dyeing as well as technologies for textile recycling and processing of recycled material.
In total, the German participation at the fair is the largest from outside China.

The VDMA team in Shanghai is staffed again with colleagues from the VDMA headquarters in Germany as well as from VDMA China. With these joined forces, the team is well prepared to support the exhibiting member companies on site.

Dr. Harald Weber, Managing Director VDMA Textile Machinery Association, summarised: “Although facing a difficult market situation, this year’s ITMA ASIA is an essential showcase for the member companies of the VDMA Textile Machinery Association. There is definitely no shortage of chances and opportunities in China and other Asian markets. The exhibiting members will demonstrate their smart technologies that can pave the way to a green textile production and are looking forward to welcoming numerous visitors from various countries to their booths in Shanghai.”

China is aiming at a green and low CO2 development of its textile industry. At a press conference on the first day of ITMA ASIA + CITME, Georg Stausberg, member of the board of VDMA Textile Machinery and CEO of the Oerlikon Polymer Processing Solutions Division said: “Topics, such as energy efficiency and the careful use of resources have become increasingly important for Asian customers in recent years, not least due to stricter legal framework conditions. VDMA members and their technologies are the right partners on the road to a greener and low CO2 textile production.”
 
Export performance
Already in 2023, the global textile machinery exports decreased by 18.6 % compared to 2022. This was a challenge all major textile machinery producing countries had to face. However, the German exports remained relatively strong and only declined by 3.4 % in 2023. 2024 did not see a change in the global textile industry and thus the German exports have now also dropped significantly. Between January and July 2024, German exports of textile machinery and accessories summed up to 1.2 billion € (2023: 1.6 billion €). The shipping to almost all major markets decreased between January and July: China: 242 million € (2023: 384 million €), Turkey: 140 million € (2023: 180 million €), USA: 118 million € (2023: 152 million €), India: 100 million € (2023: 153 million €).

Sales opportunities in Asia
An economic survey of VDMA in September, to which 20 textile machinery companies replied, reflects the global challenging situation. Around 36 % assessed their current business situation as satisfactory, 54 % said it was bad. Only very few companies expect the global situation to improve in the next six months.

However, looking at the sales opportunities by regions/countries in Asia, most of the responding companies expect a better business situation in the Asian markets except China in six months. The business situation is expected to be on a satisfactory level then. With regard to this, a presence at ITMA ASIA in Shanghai and next year in Singapore is important for VDMA members to continuously show their innovations and to keep contact with the customers in Asia.

Source:

VDMA Textile Machinery

Graphic LM Wind Power
14.10.2024

Wind Turbine Blade Recycling: ZEBRA Project Demonstrates Closed-Loop System

The ZEBRA (Zero wastE Blade ReseArch) project marks a significant leap forward in the recycling and circular economy for wind turbine blades. This collaborative effort demonstrates a breakthrough in the complete recycling of thermoplastic blades achieving significant environmental and economic benefits.

The ZEBRA project is a unique partnership led by the French Institute for Technological Research, IRT Jules Verne. Joining forces are industry leaders Arkema (resin supplier), Owens Corning (glass fiber supplier), LM Wind Power (blade manufacturer), SUEZ (dismantling and waste processing), CANOE R&D center (recycling technology), and ENGIE (life cycle analysis).

Each company played a crucial role in the development of the closed-loop recycling process:

The ZEBRA (Zero wastE Blade ReseArch) project marks a significant leap forward in the recycling and circular economy for wind turbine blades. This collaborative effort demonstrates a breakthrough in the complete recycling of thermoplastic blades achieving significant environmental and economic benefits.

The ZEBRA project is a unique partnership led by the French Institute for Technological Research, IRT Jules Verne. Joining forces are industry leaders Arkema (resin supplier), Owens Corning (glass fiber supplier), LM Wind Power (blade manufacturer), SUEZ (dismantling and waste processing), CANOE R&D center (recycling technology), and ENGIE (life cycle analysis).

Each company played a crucial role in the development of the closed-loop recycling process:

  • Arkema developed and validated the generation of recycled Elium® monomer through thermolysis, and, together with its subsidiary Bostik, an innovative adhesive for the blade assembly that is recycled together with Elium® paving the way for industrial-scale implementation.
  • Owens Corning successfully recovered glass fiber at pilot scale, enabling its reintroduction into the production process for their Sustaina® product line.
  • LM Wind Power manufactured two wind turbine blades with Arkema’s Elium® resin and Owens Corning’s Ultrablade® fabrics; one blade including a large structural element made with recycled Elium® resin.
  • SUEZ provided cutting and grinding expertise for processing the blades.
  • CANOE R&D center optimized recycling for production and carbon blade waste, additionally developing methods for repurposing waste streams through mechanical recycling.
  • ENGIE conducted a comprehensive life cycle analysis demonstrating the environmental benefits of closed-loop ZEBRA blades and validated their economic viability.

A Sustainable Future for Wind Energy
The ZEBRA project successfully recycled Elium® resin and Ultrablade® fabrics from wind turbine blades and manufacturing waste, reformulating them back into usable materials. This closed-loop process addresses the growing challenge of end-of-life blade management within the wind energy industry.

  • Recycled Elium® Monomer: Arkema achieved a yield of over 75% in the thermolysis process, paving the way for industrial-scale production of recycled resin.
  • Recovered Glass Fiber: Owens Corning successfully retrieved glass fiber for remelting and reintegration into their Sustaina® product line.
  • Life Cycle and Cost Analysis: ENGIE's study confirmed the significant environmental benefits and economic viability of ZEBRA blades when assuming a closed-loop recycling system from production to end-of-life.

ZEBRA blade using Elium® thermoplastic resin, Bostik’s highly compatible adhesive and Ultrablade® fabrics is bringing the best closed-loop recycling solution compared to traditional thermoset system. The operating cost and investments for recycling facility are significantly lowered. The CO2 emission linked to the recycling operations is reduced as well. All those results are making the closed-loop recycling solution of ZEBRA blades a viable option both on economic and environmental standpoints.

By demonstrating the feasibility of full wind turbine blade recycling, the ZEBRA project paves the way for a more sustainable future in the wind energy sector.

Source:

LM Wind Power

Photo COLOURizd™
11.10.2024

Strategic Partnership between COLOURizd and Re-Matters

Re-Matters Textile Recycling Solutions is an innovative start-up promoting circular value streams within the textile industry. The company announced a strategic partnership with COLOURizd, a pioneer in sustainable textile coloration technology.
 
This collaboration aims to support the transformation of the industry by combining COLOURizd' cutting-edge dyeing technology with Re-Matters' circular expertise to drive more sustainable practices throughout the supply chain.
 
Established in 2023, Re-Matters was created in response to mounting global environmental concerns and the rising need for sustainable textile solutions. Leveraging over 40 years of experience from their parent company, Ereks Blue Matters, Re-Matters offers engineering and consultancy services to the textile supply chain in assisting organizations in minimizing their environmental footprint through tailored solutions that emphasize reduction, reuse, recycling, and regeneration.
 

Re-Matters Textile Recycling Solutions is an innovative start-up promoting circular value streams within the textile industry. The company announced a strategic partnership with COLOURizd, a pioneer in sustainable textile coloration technology.
 
This collaboration aims to support the transformation of the industry by combining COLOURizd' cutting-edge dyeing technology with Re-Matters' circular expertise to drive more sustainable practices throughout the supply chain.
 
Established in 2023, Re-Matters was created in response to mounting global environmental concerns and the rising need for sustainable textile solutions. Leveraging over 40 years of experience from their parent company, Ereks Blue Matters, Re-Matters offers engineering and consultancy services to the textile supply chain in assisting organizations in minimizing their environmental footprint through tailored solutions that emphasize reduction, reuse, recycling, and regeneration.
 
COLOURizd' innovative QuantumCOLOUR technology enables the coloring of recycled materials without the need for bleaching or color removal. This technology preserves the integrity of the fibers and enhances yarn properties, such as strength, reduced pilling, and decreased hairiness. The process uses just 1 liter of water per kilogram of yarn and produces zero wastewater, making it an ideal solution for companies looking to improve their sustainability profile.
 
Re-Matters and COLOURizd will exhibit at the upcoming Textile Exchange Conference in Pasadena, CA, USA, from October 28 to 31, 2024.
 
This year's theme, The Case for Change, will explore how integrating best practices for climate and nature into business operations can build resilience for the future. Both companies will showcase their innovative solutions and discuss their collaborative efforts to promote a more sustainable textile industry.

Source:

COLOURizd™ / Re-Matters

Photo Envision Racing Team, Teijin Carbon Europe GmbH
02.10.2024

Advanced Composite Technologies for Formula E Racing

Teijin has teamed up with Germany's herone GmbH and the UK's Envision Racing to develop a composite wishbone which has the capability be used in a Formula E racing car using Tenax™ ThermoPlastics.

The new component is specifically designed to maximize performance while minimizing weight. By utilizing recycled materials from the aerospace industry and implementing herone's innovative pressing process, the partners are setting an example of environmental consciousness and technological excellence.

Multiple demonstrator parts were produced utilizing Tenax™ ThermoPlastic UniDirectional (TPUD) tapes. The material was braided to form the rod structure of the component. Recycled offcuts from part manufacturing in the aerospace industry were used for the functional elements. Those offcuts were injection molded to sockets which are needed for load introduction into the rod structure. herone’s innovative pressing process then compression molded the braids and at the same time co-consolidated the sockets into the rod structure to form the final part. All materials in this study were based on PPS polymer - thus making it attractive for further end-of-life recycling.

Teijin has teamed up with Germany's herone GmbH and the UK's Envision Racing to develop a composite wishbone which has the capability be used in a Formula E racing car using Tenax™ ThermoPlastics.

The new component is specifically designed to maximize performance while minimizing weight. By utilizing recycled materials from the aerospace industry and implementing herone's innovative pressing process, the partners are setting an example of environmental consciousness and technological excellence.

Multiple demonstrator parts were produced utilizing Tenax™ ThermoPlastic UniDirectional (TPUD) tapes. The material was braided to form the rod structure of the component. Recycled offcuts from part manufacturing in the aerospace industry were used for the functional elements. Those offcuts were injection molded to sockets which are needed for load introduction into the rod structure. herone’s innovative pressing process then compression molded the braids and at the same time co-consolidated the sockets into the rod structure to form the final part. All materials in this study were based on PPS polymer - thus making it attractive for further end-of-life recycling.

The use of these advanced materials makes it possible to reduce weight, minimize emissions, and increase performance at the same time. The combination of design and functionality opens new possibilities for future developments in the field of motorsport and beyond. We look forward to continuing to develop innovative solutions based on thermoplastic composites together with our partners and customers.

Source:

Teijin Carbon Europe GmbH

02.10.2024

CARBIOS: Half-year 2024 financial results show a loss of €18.1 million

  • Construction progress of world’s first PET enzymatic biorecycling plant in France: in line with production targets in 2026
  • Commercial development: several Letters of Intent signed in view of licensing agreements
  • Consolidated cash position of €120.7 million on 30 June 2024, plus €23.4 million in term deposits classified as financial assets. In addition, €42.5 million in public funding is expected.

CARBIOS, a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, reported its operating and financial results for the first half of 2024.
The financial statements as of 30 June 2024 were approved by CARBIOS' Board of Directors.

The improvement in the financial results is mainly due to the increase in the Company’s financial income from interest on money market investments and term deposits of its cash and cash equivalents. Cash is systematically invested in risk-free, highly liquid money market products.

The decrease in financial expenses is mainly due to the capitalization of borrowing costs for the Longlaville plant.

  • Construction progress of world’s first PET enzymatic biorecycling plant in France: in line with production targets in 2026
  • Commercial development: several Letters of Intent signed in view of licensing agreements
  • Consolidated cash position of €120.7 million on 30 June 2024, plus €23.4 million in term deposits classified as financial assets. In addition, €42.5 million in public funding is expected.

CARBIOS, a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, reported its operating and financial results for the first half of 2024.
The financial statements as of 30 June 2024 were approved by CARBIOS' Board of Directors.

The improvement in the financial results is mainly due to the increase in the Company’s financial income from interest on money market investments and term deposits of its cash and cash equivalents. Cash is systematically invested in risk-free, highly liquid money market products.

The decrease in financial expenses is mainly due to the capitalization of borrowing costs for the Longlaville plant.

The Group’s operating income (loss) shows a loss of €18.1 million at 30 June 2024 (€13.7 million loss at 30 June 2023).

The Group’s cash position stands at €120.7 million at 30 June 2024, plus
€23.4 million in term deposits classified as financial assets (for a total cash of €144 million after incorporation of term deposits) (€192 million at 31 December 2023).

On the basis of cashflow position to date, and the Company’s forecast operating expenses, CARBIOS considers to be able to cover its needs beyond the next 12 months. In addition, €42.5 million euros in public funding is expected.

In the first six months of 2024:

  • The Group incurred €11,771 thousand in R&D expenses. The rise in R&D costs is mainly due to increased staff costs in line with the development of the Group’s various activities.
  • The Group reported €1,952 thousand of Subsidies and other business income, which partially offset these R&D expenses. This item mainly consists of €1,379 thousand in tax credit for first-half 2024, of which €1,043 thousand relates to CARBIOS and €336 thousand to Carbiolice.

Finally, the Group continued to capitalize the Development expenses of its PET biorecycling project, booking a total €1,618 thousand in the first half of 2024, in accordance with IAS 38 capitalization criteria.

During this first period of the 2024 financial year, CARBIOS forged several international strategic partnerships with a view to deploying its licensing model for its technology and know-how in the field of PET plastic and textile enzymatic biorecycling.

More information:
Carbios financial year 2024
Source:

Carbios

Helmut Bacher Photo Erema Group
Helmut Bacher
25.09.2024

Co-founder of recycling machine manufacturer EREMA has died

Helmut Bacher, co-founder of Austrian plastics recycling machine manufacturer EREMA and former managing partner, passed away on 20 September at the age of 81.

Helmut Bacher is regarded as a pioneer of plastics recycling. Together with his two colleagues Georg Wendelin and Helmuth Schulz, Helmut Bacher founded EREMA Engineering Recycling Maschinen und Anlagen Ges.m.b.H. in Linz, Austria, in 1983. Their life’s work was acknowledged in 2008 when the three founders received the Golden Award of Honour from the Province of Upper Austria.

Helmut Bacher, co-founder of Austrian plastics recycling machine manufacturer EREMA and former managing partner, passed away on 20 September at the age of 81.

Helmut Bacher is regarded as a pioneer of plastics recycling. Together with his two colleagues Georg Wendelin and Helmuth Schulz, Helmut Bacher founded EREMA Engineering Recycling Maschinen und Anlagen Ges.m.b.H. in Linz, Austria, in 1983. Their life’s work was acknowledged in 2008 when the three founders received the Golden Award of Honour from the Province of Upper Austria.

Helmut Bacher displayed visionary foresight and open mind in playing a key role in shaping the plastics recycling industry. Following his training as a fitter and completing his schooling as a mechanical engineer, he worked in various technical positions before moving to a mechanical engineering company for plastics processing in the early 1970s. Helmut Bacher shared with his two colleagues a belief in the potential of plastics recycling. During countless trials, he searched for the right solution - until he found it. Despite initial adversity, the three founders remained convinced of the idea of a cost effective recycling machine for plastic waste and started up their own company in 1983.

At the K trade fair in Düsseldorf in 1983, EREMA presented a simple, robust, reliable and economical recycling system, signalling the start of a success story. The young company produced its first orders in modest premises in Leonding with two small workshops and a double garage. Today, the plants and components supplied by the EREMA Group achieve recycling capacities of over 25 million tonnes of plastic per year worldwide.

Up until his retirement from company management in 2004, Helmut Bacher was a driving force behind the company and remained closely associated with the EREMA Group until his death. His technical ability, coupled with solution-orientated thinking and genuine appreciation of his employees, have left a lasting impression and continue to shape the company to this day.

More information:
EREMA EREMA Group plastic recycling
Source:

Erema Group

24.09.2024

CARBIOS and Selenis: Strategic partnership to produce PETG

CARBIOS, a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, and SELENIS, a leading supplier of high-quality specialty polyester solutions, have signed a Letter of Intent to cooperate in the production of PETG. By leveraging CARBIOS’ enzymatic depolymerization technology and Selenis’ expertise in polymerization, the companies aim to develop a premium, sustainable PETG material made from PET waste for the Cosmetic and Healthcare packaging sectors across Europe and the U.S. This partnership follows a two-year collaboration between the two companies and represents a significant advancement in the plastic recycling industry.

CARBIOS, a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, and SELENIS, a leading supplier of high-quality specialty polyester solutions, have signed a Letter of Intent to cooperate in the production of PETG. By leveraging CARBIOS’ enzymatic depolymerization technology and Selenis’ expertise in polymerization, the companies aim to develop a premium, sustainable PETG material made from PET waste for the Cosmetic and Healthcare packaging sectors across Europe and the U.S. This partnership follows a two-year collaboration between the two companies and represents a significant advancement in the plastic recycling industry.

PETG is an indispensable packaging material in both the cosmetics and healthcare industries due to its exceptional clarity, durability, mechanical and chemical resistance. CARBIOS’ enzymatic depolymerization solution breaks down all types of PET waste into PTA and MEG monomers, which are then transformed into PETG through Selenis’ advanced polymerization processes. Thanks to the purity of these monomers, PETG issued from biorecycling presents the same properties as virgin PETG, allowing for products packaged in thick, molded pots and lids to be protected and presented attractively. In the medical and pharmaceutical industries, PETG properties are also critical for guaranteeing top packaging performance, sterility, transparency and optical brightness, making it an ideal choice for complex medical device packaging, pharmaceuticals blisters, or any other packaging of diagnostic equipment. The material’s value is therefore further underscored by combining a sustainable recycling solution whilst guaranteeing all needed properties, aligning with consumer sustainability demands and stringent regulatory requirements.

CARBIOS and Selenis’ partnership is the result of extensive pilot and industrial polymerization trials that have refined the quality of the end product. The result is high-specialty PETG grades issued from biorecycling that meet the strict requirements of sectors like cosmetics and healthcare, where Selenis has a strong presence through its Selcare brand.

More information:
Carbios PETG
Source:

Carbios

04.09.2024

GFA: New Research on Reverse Logistics for Circular Fashion

Global Fashion Agenda (GFA), supported by its Insight Partner, Maersk, has released a new report, Reverse Logistics for Circular Fashion Systems. The report expands on how fashion brands, retailers, value chain partners, and logistics providers can leverage reverse logistics to cultivate an effective and holistic circular fashion system.

The publication is the culmination of extensive research, including consultations with and input from eight experts from eight brands and organisations - Maersk, Nike, H&M Group, Target, PUMA Group, Ellen MacArthur Foundation, VF Corporation, and Circle Economy Foundation. It highlights the critical role of logistics in supporting fashion companies to adopt more circular systems by managing the reverse flow of materials and products from end-users, and returning them back into the system for resale, remaking or recycling, extending their lifecycle, maximising value, and minimising waste.

Global Fashion Agenda (GFA), supported by its Insight Partner, Maersk, has released a new report, Reverse Logistics for Circular Fashion Systems. The report expands on how fashion brands, retailers, value chain partners, and logistics providers can leverage reverse logistics to cultivate an effective and holistic circular fashion system.

The publication is the culmination of extensive research, including consultations with and input from eight experts from eight brands and organisations - Maersk, Nike, H&M Group, Target, PUMA Group, Ellen MacArthur Foundation, VF Corporation, and Circle Economy Foundation. It highlights the critical role of logistics in supporting fashion companies to adopt more circular systems by managing the reverse flow of materials and products from end-users, and returning them back into the system for resale, remaking or recycling, extending their lifecycle, maximising value, and minimising waste.

Over 520 global regulations are currently in place, urging companies to rethink their sourcing and design strategies, emphasising regionalisation and circularity. Moreover 45% of brands surveyed by Global Fashion Agenda and the United Nations Environment Programme earlier this year reported that they have set targets to derive at least 10% of their revenue from circular business models by 2040. However, despite the potential, the fashion industry lacks a comprehensive system for circularity, with current fragmented approaches failing to achieve commercial viability. Deeper collaboration with logistics partners can support more streamlined operations, while aiding compliance with tightening regulatory requirements and in demonstrating positive environmental impacts.

To guide stakeholders, the publication outlines essential elements for implementing effective reverse logistics, including:

  • Network design: Expanding reverse logistics beyond consumer returns to capture and valorise post-industrial textile waste flows and unsold goods.
  • Financial ownership: Establishing clear financial models to define roles, responsibilities, and profit-sharing, enhancing collaboration and investment.
  • Boosting collection volumes: Developing infrastructure for efficient collection and processing of textile waste, essential for scaling solutions and reducing recycled fibre costs.
Source:

Global Fashion Agenda (GFA)

 

03.09.2024

Teijin Companies at CAMX 2024

The Teijin Group companies Teijin Carbon America, Renegade Materials and Teijin Aramid will participate in CAMX. the largest, most comprehensive composites and advanced materials event in North America, in San Diego, USA. At the TEIJIN booth, visitors can explore innovative composite solutions and learn about the comprehensive technical support and provided services.

Teijin's diverse network of materials companies excels across various fields, ranging from high-performance carbon and aramid fibers to cutting-edge industrial textiles and revolutionary, cost-effective prepreg composite solutions. The shared commitment to quality, innovation, and environmental responsibility unites Teijin in their mission to deliver eco-friendly solutions across multiple industries and applications, including pressure vessels, aerospace, and both defense and commercial aircraft construction.

The Teijin Group companies Teijin Carbon America, Renegade Materials and Teijin Aramid will participate in CAMX. the largest, most comprehensive composites and advanced materials event in North America, in San Diego, USA. At the TEIJIN booth, visitors can explore innovative composite solutions and learn about the comprehensive technical support and provided services.

Teijin's diverse network of materials companies excels across various fields, ranging from high-performance carbon and aramid fibers to cutting-edge industrial textiles and revolutionary, cost-effective prepreg composite solutions. The shared commitment to quality, innovation, and environmental responsibility unites Teijin in their mission to deliver eco-friendly solutions across multiple industries and applications, including pressure vessels, aerospace, and both defense and commercial aircraft construction.

Teijin’s dedication to acquiring appropriate certifications for sustainable production and product development underscores the high level of commitment to lead in this field. In the past years, Teijin has continuously striven to minimize their carbon footprint and global impact, while also supporting customers on their own sustainability journeys. This year, Teijin Aramid achieved the EcoVadis Gold Medal recognition, placing the company in the top 5% of all companies across all industries globally and in the top 3% of all man-made fiber manufacturers worldwide.

Teijin Carbon has been awarded the ISCC Plus certification for its production in Germany and Japan and is on track to receive the same certification in the U.S. in the coming months. This accreditation allows the Teijin Carbon Group to prove to its customers sustainable products that contribute to a circular economy. Teijin Carbon is diligently working toward establishing new sustainability standards, promoting ecological innovations, and fostering partnerships for a more sustainable world.

Teijin is looking forward to engaging with customers and partners at CAMX 2024 in San Diego to discuss innovative ideas for the circular economy and recycling processes.

Teijin Carbon is one of the world's leading manufacturers of Tenax™ carbon fibers and carbon fiber-based materials, with production sites in the US, Germany, Japan and Vietnam. Teijin Carbon develops solutions for the aerospace, automotive, energy, electronics and sporting goods industries using high-performance technologies in an international environment. They work closely with their partners to create a fully circular value chain. The goal to make Teijin’s products net CO₂-free by 2050 aligns with the commitment to global society to find solutions and take action to combat it.

As a manufacturer of intermediate materials in the US, Renegade Materials is known for its product expertise and commitment to customer satisfaction. Renegade Materials distinguishes itself by merging cutting-edge materials science with advanced prepreg manufacturing and testing equipment, all meticulously controlled by rigorous quality management systems. Renegade is steadfast in their commitment to the development and largescale production of advanced, multi-functional materials that offer engineered solutions to the current composite design, usage and affordability initiatives in the aerospace industry.

Teijin Aramid is a global leader in high-performance aramid fiber, a subsidiary of the global Teijin Group. Specializing in high-performance aramid fibers, their materials are used in automotive and aerospace industries, ballistic protection and more.

Source:

Teijin

ipictures, Pixabay
02.09.2024

New rPET recycling facilities in India

Indorama Ventures Public Company Limited through its direct subsidiary – IVL Dhunseri Petrochem Industries Limited - and Dhunseri Ventures Limited have formed a joint venture with Varun Beverages Limited, PepsiCo's second-largest bottling company globally outside the US, to establish several greenfield state-of-the-art PET recycling facilities in India.
 
The joint venture has begun the construction of two PET recycling facilities, planned for completion within 2025, with potential for more. One facility is in Kathua within the Jammu Division of the Indian Union territory of Jammu and Kashmir, situated in Northern India, while the other is in Khurdha within the State of Odisha, located in Eastern India. The aim is to reach 100 kiloton annual capacity of recycled PET (rPET) across all the facilities when combined.

Indorama Ventures Public Company Limited through its direct subsidiary – IVL Dhunseri Petrochem Industries Limited - and Dhunseri Ventures Limited have formed a joint venture with Varun Beverages Limited, PepsiCo's second-largest bottling company globally outside the US, to establish several greenfield state-of-the-art PET recycling facilities in India.
 
The joint venture has begun the construction of two PET recycling facilities, planned for completion within 2025, with potential for more. One facility is in Kathua within the Jammu Division of the Indian Union territory of Jammu and Kashmir, situated in Northern India, while the other is in Khurdha within the State of Odisha, located in Eastern India. The aim is to reach 100 kiloton annual capacity of recycled PET (rPET) across all the facilities when combined.

This initiative aligns with the escalating demand for rPET content in India, driven by both regulatory mandates and a collective effort towards a circular economy for PET. The surge in demand reflects a significant shift, with projected volumes increasing from approximately 400 kilotons in 2025-2026 to over 1 million tons by 2031. Mandates such as the Indian government’s compulsory requirement of 30% recycled plastic content in plastic packaging by 2025-2026, escalating to 60% by 2028-2029, underscores the urgency and importance of this transformation. Moreover, this move aims to effectively cater to the needs of India’s beverage Brand Owners, many of whom have established ambitious sustainability goals in line with regulatory directions.

Source:

Indorama Ventures

28.08.2024

RE&UP wins ITMF Start-up Award 2024

RE&UP Recycling Technologies, an innovator in scalable recycling solutions for Next-Gen fibers, announces its recognition as one of the winners of the ITMF Start-up Award 2024. This accolade highlights RE&UP's commitment to advancing more sustainable practices in the textile industry through recycling technologies.

The ITMF Start-up Award, presented annually by the International Textile Manufacturers Federation (ITMF), aims to honor start-ups that showcase innovative and transformative ideas poised to make a impact on the textile sector. This year’s award ceremony will be held during the ITMF & IAF Conference 2024 from September 8-10 in Samarkand, Uzbekistan, co-hosted by the Uzbek Textile & Apparel Industry Association (UZTS).

RE&UP Recycling Technologies, an innovator in scalable recycling solutions for Next-Gen fibers, announces its recognition as one of the winners of the ITMF Start-up Award 2024. This accolade highlights RE&UP's commitment to advancing more sustainable practices in the textile industry through recycling technologies.

The ITMF Start-up Award, presented annually by the International Textile Manufacturers Federation (ITMF), aims to honor start-ups that showcase innovative and transformative ideas poised to make a impact on the textile sector. This year’s award ceremony will be held during the ITMF & IAF Conference 2024 from September 8-10 in Samarkand, Uzbekistan, co-hosted by the Uzbek Textile & Apparel Industry Association (UZTS).

As one of the four winners of the ITMF Start-up Award 2024, along with Sci-Lume Labs, Sycoretec CAS, Syre Impact, RE&UP will have the opportunity to present its business model and technological advancements at the upcoming conference, where leaders from across the global textile value chain will gather. This platform will enable RE&UP to connect with established companies and explore collaborative opportunities to further integrate sustainable practices in textile manufacturing.

26.08.2024

Oerlikon at ITMA Asia + CITME 2024

This year's ITMA Asia + CITME 2024 trade fair appearance of the Oerlikon Polymer Processing Solutions Division between 14 and 18 October 2024 will once again focus on current challenges for the global textile machinery industry: the replacement of old systems with energy-efficient and sustainable technology solutions, the use of digital software and hardware solutions to increase productivity and ensure material quality, and the traceability of all products to enable the recycling of the raw materials used in a future-oriented circular economy.

Oerlikon Polymer Processing Solutions offers complete solutions ranging from extrusion and polycondensation systems to texturized yarn, accompanied by automation and digital solutions. The supply of all process steps from a single source ensures a coordinated technology that guarantees the high quality of the fibers and yarns produced. The entire product portfolio of the supplier of machines and systems primarily to produce polyester, polypropylene and nylon will therefore take centre stage at this year's trade fair.

This year's ITMA Asia + CITME 2024 trade fair appearance of the Oerlikon Polymer Processing Solutions Division between 14 and 18 October 2024 will once again focus on current challenges for the global textile machinery industry: the replacement of old systems with energy-efficient and sustainable technology solutions, the use of digital software and hardware solutions to increase productivity and ensure material quality, and the traceability of all products to enable the recycling of the raw materials used in a future-oriented circular economy.

Oerlikon Polymer Processing Solutions offers complete solutions ranging from extrusion and polycondensation systems to texturized yarn, accompanied by automation and digital solutions. The supply of all process steps from a single source ensures a coordinated technology that guarantees the high quality of the fibers and yarns produced. The entire product portfolio of the supplier of machines and systems primarily to produce polyester, polypropylene and nylon will therefore take centre stage at this year's trade fair.

“The Chinese market continues to have enormous potential for us, even if it has not been able to match the previous times in terms of large new installations of manmade fiber plants and the associated expansion of production capacity for good two years. However, there is still a great need for renewal, especially in terms of sustainability. Shutting down old plants and replacing them with new, modern and energy-efficient technologies is the path to a better and lower-emission future for us all,” explains André Wissenberg, Head of Marketing, Corporate Communications and Public Affairs. “We have been contributing to sustainability with our technology solutions for decades. Be it by increasing energy efficiency with each new generation of machines or by processing new materials,” Wissenberg continues. Oerlikon is proud of the fact that the company has been offering solutions for the textile industry under the e-save sustainability label for 20 years and has saved over 15 million tons of CO2 thanks to the machines and systems developed and installed on the market during this time.

Source:

Oerlikon Textile GmbH & Co. KG

Gimatex turns textile waste into ring yarn with Trützschler’s IDF (c) Trützschler Group SE
26.08.2024

Gimatex turns textile waste into ring yarn with Trützschler’s IDF

Trützschler and the Indian company Gimatex have a long relationship that began in 2006. Gimatex has used Trützschler’s IDF in direct spinning and are now using it to turn textile waste into ring yarn.

Gimatex Industries Pvt. Ltd. operates fully integrated facilities with ginning, spinning, recycling, weaving and processing units in Hinganghat, within India’s cotton-growing region of Vidarbha. It also runs a fabric processing unit in Dholka, near Ahmedabad. Together, Trützschler and Gimatex are working in close collaboration with the shared aim of extending that long history far into the future.

Trützschler’s Integrated Draw Frame (IDF) technology is at the heart of this collaboration. Gimatex is using these solutions to produce high-quality yarn. In particular, IDF enables Gimatex to produce yarns from a wide variety of raw materials – from 100 percent cotton through to polyester, recycled fibers and blends of various different inputs.

Trützschler and the Indian company Gimatex have a long relationship that began in 2006. Gimatex has used Trützschler’s IDF in direct spinning and are now using it to turn textile waste into ring yarn.

Gimatex Industries Pvt. Ltd. operates fully integrated facilities with ginning, spinning, recycling, weaving and processing units in Hinganghat, within India’s cotton-growing region of Vidarbha. It also runs a fabric processing unit in Dholka, near Ahmedabad. Together, Trützschler and Gimatex are working in close collaboration with the shared aim of extending that long history far into the future.

Trützschler’s Integrated Draw Frame (IDF) technology is at the heart of this collaboration. Gimatex is using these solutions to produce high-quality yarn. In particular, IDF enables Gimatex to produce yarns from a wide variety of raw materials – from 100 percent cotton through to polyester, recycled fibers and blends of various different inputs.

Gimatex mainly uses Trützschler IDF to manufacture rotor yarns in a direct spinning process. Direct spinning means shortening the spinning process by eliminating draw frame passages. Fiber slivers are fed directly from the card into the integrated drafting passage. This direct spinning concept uses less electricity and less space than conventional draw frame passages, which helps Gimatex to cut costs while increasing output volumes – with no compromise in quality. Most often, IDF technology is used for rotor and vortex spinning. However, the team at Gimatex is now also one of the first spinning mills in India to develop a special IDF process for producing traditional and recycled ring yarn. This allows the company to leverage the same setup it uses for open-end yarn. The ring yarn produced in this unusual way is mostly coarser varieties and recycling blends for cotton / spandex (lycra) products, with Ne 10s and Ne 16s. The yarn goes through a blow room into a TC 15 card with IDF, before entering a Trützschler TD 10 draw frame, a speed frame and a ring frame.

 

Source:

Trützschler Group SE

Neste expands chemical recycling logistics infrastructure (c) Neste
Installation of new unloading arm for liquefied recycled raw materials at Neste Porvoo refinery harbor, Finland.
20.08.2024

Neste expands chemical recycling logistics infrastructure

Neste is expanding its logistics infrastructure for liquefied recycled raw materials at its refinery in Porvoo, Finland, including materials such as liquefied waste plastic and liquefied rubber tires. This lays the foundation to handling larger amounts of liquefied raw materials to support Neste’s strategic aims to advance chemical recycling and transform the Porvoo refinery into a renewable and circular solutions hub.

The new logistics installations comprise dedicated unloading facilities: At the refinery’s harbor, Neste is building an unloading arm with a heating system as well as pipelines to connect the harbor with dedicated storage tanks. Unlike regular crude oil, liquefied waste plastic or discarded rubber tires require heating to stay liquid. At the same time, the systems need to come with higher resistance to corrosion. In addition to the unloading arm and pipelines, Neste is also building a vapor recovery unit, contributing to emission control of the operations.

Neste is expanding its logistics infrastructure for liquefied recycled raw materials at its refinery in Porvoo, Finland, including materials such as liquefied waste plastic and liquefied rubber tires. This lays the foundation to handling larger amounts of liquefied raw materials to support Neste’s strategic aims to advance chemical recycling and transform the Porvoo refinery into a renewable and circular solutions hub.

The new logistics installations comprise dedicated unloading facilities: At the refinery’s harbor, Neste is building an unloading arm with a heating system as well as pipelines to connect the harbor with dedicated storage tanks. Unlike regular crude oil, liquefied waste plastic or discarded rubber tires require heating to stay liquid. At the same time, the systems need to come with higher resistance to corrosion. In addition to the unloading arm and pipelines, Neste is also building a vapor recovery unit, contributing to emission control of the operations.

The new logistics infrastructure is expected to be completed in 2024. It will, therefore, be available when Neste finishes construction of its liquefied waste plastic upgrading unit at the Porvoo refinery, which is currently being built as part of the project PULSE, planned to be finalized during 2025. At the upgrading unit, the liquefied raw materials are turned into high-quality feedstock for the plastics and chemicals industry.

Source:

Neste

12.08.2024

Indorama Ventures: Stable 2Q24 earnings

Indorama Ventures Public Company Limited (IVL) reported a slight rise in quarterly performance, supported by a gradual recovery in sales volumes and as management executes the company’s IVL 2.0 strategy to optimize its manufacturing model, reduce costs, and enhance competitiveness.

Indorama Ventures’ reported Adjusted EBITDA  of $370 million in 2Q24, a 1% rise QoQ and a decline of 11% YoY. The company’s sales volumes increased 1% YoY due to subdued economic activity, but also signaling the end of a prolonged period of destocking that began in late 2022. Operating rates for the group increased from 74% to 76% in 1H24, although still at lower-than-average levels, signifying the weak global economic conditions. On a proforma basis, considering asset optimization actions, operating rates increase to 81%.

The Indovinya segment posted a robust performance on improved margins and rebounding demand for its high value-add downstream products. The packaging business, newly renamed ‘Indovida’, also performed well due to its leading footprint in emerging markets.

Indorama Ventures Public Company Limited (IVL) reported a slight rise in quarterly performance, supported by a gradual recovery in sales volumes and as management executes the company’s IVL 2.0 strategy to optimize its manufacturing model, reduce costs, and enhance competitiveness.

Indorama Ventures’ reported Adjusted EBITDA  of $370 million in 2Q24, a 1% rise QoQ and a decline of 11% YoY. The company’s sales volumes increased 1% YoY due to subdued economic activity, but also signaling the end of a prolonged period of destocking that began in late 2022. Operating rates for the group increased from 74% to 76% in 1H24, although still at lower-than-average levels, signifying the weak global economic conditions. On a proforma basis, considering asset optimization actions, operating rates increase to 81%.

The Indovinya segment posted a robust performance on improved margins and rebounding demand for its high value-add downstream products. The packaging business, newly renamed ‘Indovida’, also performed well due to its leading footprint in emerging markets.

Looking ahead, Indorama Ventures is encouraged by the gradual improvement in the operating environment as customer inventory levels normalize, which is expected to spur further growth in volumes across all segments in 2H24. The company also expects to benefit in 2H24 from its shale gas advantage in the U.S, reflected in ethylene crack margins, positively impacting its integrated MEG business. Continued higher import prices in Western markets will enhance the company’s competitiveness as a leading local operator.

While the polyester industry manages the downcycle, Indorama Ventures’ experienced management team is working hard to deleverage and optimize the business under the company’s IVL 2.0 strategy to emerge stronger and drive enhanced earnings quality in an era of higher interest rates and a substantially changed industry landscape. As flagged at its Capital Markets Day on 6 March this year and reaffirmed in its Mid year strategic update on 24 July, the company is making substantial progress with IVL 2.0. In 2Q24, it recorded an impairment and expense provision of $666 million ($543 million is non cash) under its asset optimization program to improve manufacturing efficiency and reduce fixed costs. The cost benefits will start from 3Q24 and amount to about $170 million in savings in 2025. The company expects that the remaining asset optimizations will not have material impairments.

Management is continuing its intense focus on managing costs and extracting efficiencies, including its Olympus 2.0 program. These efforts achieved $47 million in savings in 1H24 ($29 million in 2Q24). The company is continually optimizing its capital expenditure, with capex supporting investments in sustainability—such as recycling in India—and automation and digital technology, as well as ongoing projects.

A key part of Indorama Ventures’ transformation journey is the implementation of new digital and AI tools to drive operational excellence in key areas, including manufacturing, commercial, procurement, sales, supply chain, and finance excellence. A significant portion of operations now have the new SAP S/4HANA ERP platform as a digital core, while rollouts of other world-leading solutions are ongoing in a phased approach through to 2026.

Segment Performances
The Combined PET (CPET) with Intermediate Chemicals segment posted an Adjusted EBITDA of $234 million in 2Q24, a 6% decline QoQ and a 25% decrease YoY, due to a one-time upside impact from a campaign run of NDC campaign in 1Q24 and as reduced industry spreads weighed on the Integrated PET business. A cracker outage at Lake Charles in the U.S also resulted in a $17-18 million impact to EBITDA. The cracker is gradually up and running in 3Q24.

The Indovinya segment recorded a strong Adjusted EBITDA of $98 million, a 41% gain QoQ and 85% YoY on increased volumes as destocking eased, supported by demand for downstream chemical surfactants amid the U.S crops season.

The Fibers segment recorded Adjusted EBITDA of $39 million, a 2% rise QoQ and a 19% gain YoY amid improved sales strategies and a robust focus on cost management, even as volumes declined, particularly in the Lifestyle business.

Source:

Indorama Ventures Public Company Limited

09.08.2024

Trützschler Group at CAITME 2024

From September 11 to 14, 2024, the Trützschler Group will present its latest innovations at CAITME in Tashkent, Uzbekistan - featuring machines and technologies in spinning, card clothing and nonwovens.

Trützschler Spinning
A highlight will be Trützschler’s next generation card, the TC 30i. In recent customer trials, the TC 30i has achieved up to 40 % higher productivity while reducing energy consumption by up to -18 %. In addition, the team will share insights about the Integrated Draw Frame IDF 3, which enables shortened processes that save resources, energy and production space. Visitors will also have the opportunity to discover the TCO 21XL, a 12-head comber. This comber makes it possible to increase productivity by 50 %, while requiring 25 % less space.

Visitors will also get the chance to learn about Trützschler’s new brand for textile recycling, TRUECYCLED. The company enables its customers to produce high quality tapes while turning waste into value.

From September 11 to 14, 2024, the Trützschler Group will present its latest innovations at CAITME in Tashkent, Uzbekistan - featuring machines and technologies in spinning, card clothing and nonwovens.

Trützschler Spinning
A highlight will be Trützschler’s next generation card, the TC 30i. In recent customer trials, the TC 30i has achieved up to 40 % higher productivity while reducing energy consumption by up to -18 %. In addition, the team will share insights about the Integrated Draw Frame IDF 3, which enables shortened processes that save resources, energy and production space. Visitors will also have the opportunity to discover the TCO 21XL, a 12-head comber. This comber makes it possible to increase productivity by 50 %, while requiring 25 % less space.

Visitors will also get the chance to learn about Trützschler’s new brand for textile recycling, TRUECYCLED. The company enables its customers to produce high quality tapes while turning waste into value.

Trützschler Card Clothing
Trützschler Card Clothing (TCC) will present a range of technologies from its card clothing portfolio, covering the full spectrum of applications in the spinning and nonwovens markets. A key feature will be the Flexible Bend Control (FBC), which ensures flat setting for all card models within a few seconds and guarantees optimum quality.

Trützschler Nonwovens
Trützschler Nonwovens will focus on solutions for the production of cotton nonwovens for wipes, pads and medical products from virgin fibers, comber noils or blends. In addition, the team will provide insights into T-SUPREMA needle-punching lines and show its solutions for the specific requirements of high-potential markets such as geotextiles, filter media, automotive textiles or other durable products.