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Indorama Ventures awarded by EcoVadis Sustainability Assessment (c) Indorama Ventures
02.02.2024

Indorama Ventures awarded by EcoVadis Sustainability Assessment

Indorama Ventures Public Company Limited has been awarded the 'Platinum Medal' by EcoVadis Sustainability Assessment, underscoring the company's commitment to sustainability.

Indorama Ventures actively participates in the annual EcoVadis assessment to measure its sustainable practices, ensuring alignment with the diverse requirements of key customers across various business segments and operations. In the latest evaluation for 2024, the company achieved a Platinum Medal with a score of 80, surpassing last year’s score of 77. Indorama Ventures is ranked in the top 1% of all companies assessed within the primary industries of basic chemicals. The company demonstrated above industry-average performance in all four assessment areas: environment, labor human rights, ethics, and sustainable procurement.

Indorama Ventures Public Company Limited has been awarded the 'Platinum Medal' by EcoVadis Sustainability Assessment, underscoring the company's commitment to sustainability.

Indorama Ventures actively participates in the annual EcoVadis assessment to measure its sustainable practices, ensuring alignment with the diverse requirements of key customers across various business segments and operations. In the latest evaluation for 2024, the company achieved a Platinum Medal with a score of 80, surpassing last year’s score of 77. Indorama Ventures is ranked in the top 1% of all companies assessed within the primary industries of basic chemicals. The company demonstrated above industry-average performance in all four assessment areas: environment, labor human rights, ethics, and sustainable procurement.

Source:

Indorama Ventures

Indorama
19.12.2023

Indorama Ventures again a member of the DJSI World and DJSI Emerging Markets

Indorama Ventures Public Company Limited has been selected for inclusion in the Dow Jones Sustainability World Index (DJSI World) for the fifth consecutive year and the Dow Jones Sustainability Emerging Markets Index (DJSI Emerging Markets) for the seventh year in a row.

Indorama Ventures ranked in the 92nd percentile amongst 11 chemical companies eligible for listing out of 89 chemical companies invited, with a Corporate Sustainability Assessment (CSA) Score of 73 out of 100. The score reflects the company’s best-in-class performance in innovation management, covering product innovation, process innovation, and open innovation, which involves collaborative research and development with external organizations such as customers, suppliers, brand owners, and academic institutions. It also recognizes the company’s achievements in decarbonization, climate change resiliency and adaptation, plastic waste management and recycling, corporate social responsibility, and contribution to the Sustainable Development Goals (SDGs).

Indorama Ventures Public Company Limited has been selected for inclusion in the Dow Jones Sustainability World Index (DJSI World) for the fifth consecutive year and the Dow Jones Sustainability Emerging Markets Index (DJSI Emerging Markets) for the seventh year in a row.

Indorama Ventures ranked in the 92nd percentile amongst 11 chemical companies eligible for listing out of 89 chemical companies invited, with a Corporate Sustainability Assessment (CSA) Score of 73 out of 100. The score reflects the company’s best-in-class performance in innovation management, covering product innovation, process innovation, and open innovation, which involves collaborative research and development with external organizations such as customers, suppliers, brand owners, and academic institutions. It also recognizes the company’s achievements in decarbonization, climate change resiliency and adaptation, plastic waste management and recycling, corporate social responsibility, and contribution to the Sustainable Development Goals (SDGs).

25.09.2023

Indorama Ventures recycles 100 billion PET bottles

Indorama Ventures Public Company Limited, a global sustainable chemical company, announced that it has recycled 100 billion post-consumer PET bottles since February 2011. This has diverted 2.1 million tons of waste from the environment and saved 2.9 million tons of carbon footprint from the product lifecycles. Demonstrating its commitment to support the establishment of a circular economy for PET, in the last ten years Indorama Ventures has spent more than $1 billion towards waste collection of used PET bottles.

Indorama Ventures Public Company Limited, a global sustainable chemical company, announced that it has recycled 100 billion post-consumer PET bottles since February 2011. This has diverted 2.1 million tons of waste from the environment and saved 2.9 million tons of carbon footprint from the product lifecycles. Demonstrating its commitment to support the establishment of a circular economy for PET, in the last ten years Indorama Ventures has spent more than $1 billion towards waste collection of used PET bottles.

The company has also committed a further $1.5 billion to expand its recycling business. To support increased recycling rates globally, Indorama Ventures has expanded its recycling facilities, infrastructure, and public education programs. The unique PET plastic used in soft drinks and water bottles is fully recyclable and is collected in practice and at scale. As a result, PET is the most recycled plastic in the world, and the company’s recycling achievements support that. Building on its position as the world’s largest producer of recycled resin used in plastic beverage bottles, Indorama Ventures is also seeking advanced technologies to deliver more recycling infrastructure globally and reduce lifecycle carbon emissions.

The company now has 20 recycling sites in Asia, the Americas, and Europe. Recent developments include doubling the capacity of a recycling site in Brazil; and the opening of PETValue, the largest bottle-to-bottle recycling facility in the Philippines, in partnership with Coca-Cola. Both part of a $300 million ‘Blue Loan’ Indorama Ventures received in 2020 from the International Finance Corporation (IFC), part of the World Bank, and Asian Development Bank. The loan has the objective of increasing recycling capacity and diverting plastic waste from landfills and oceans in Thailand, Indonesia, Philippines, India, and Brazil - countries seeking support in managing environmental waste. Indorama Ventures has also partnered with the Yunus Foundation, a leading non-profit organization promoting sustainable development with a global network, with the goal of educating one million consumers globally about recycling by 2030 with 200,000 reached so far.

Source:

Indorama

Innovation Award for Indorama Ventures and Polymateria Photo Indorama Ventures
21.07.2023

INDA Innovation Award for Indorama Ventures and Polymateria's Biotransformation Technology

Indorama Ventures, in partnership with Polymateria, has been honoured with the INDA Innovation Award for their collaboration in developing pioneering Biotransformation technology to create wipes, which totally biodegrade, leaving no harmful substance or microplastics behind.

The award was presented at the recent World of Wipes International Conference in Atlanta, USA, and recognizes the level of technical innovation and investment that led to developing wipes that both deliver against the sustainability challenges of today while meeting the demands of Indorama Ventures’ customers worldwide.

Through its 10-year partnership agreement with technology innovator Polymateria, Indorama Ventures is applying Polymateria’s unique biotransformation technology to fibers and spunmelt nonwovens. Biotransformation is the world's first biodegradation technology that is capable of delivering full biological consumption of Polyolefin products in the open terrestrial environment. Polyolefin-based materials produced by this technology are especially useful for applications where materials may be leaked into the environment as unmanaged waste.

Indorama Ventures, in partnership with Polymateria, has been honoured with the INDA Innovation Award for their collaboration in developing pioneering Biotransformation technology to create wipes, which totally biodegrade, leaving no harmful substance or microplastics behind.

The award was presented at the recent World of Wipes International Conference in Atlanta, USA, and recognizes the level of technical innovation and investment that led to developing wipes that both deliver against the sustainability challenges of today while meeting the demands of Indorama Ventures’ customers worldwide.

Through its 10-year partnership agreement with technology innovator Polymateria, Indorama Ventures is applying Polymateria’s unique biotransformation technology to fibers and spunmelt nonwovens. Biotransformation is the world's first biodegradation technology that is capable of delivering full biological consumption of Polyolefin products in the open terrestrial environment. Polyolefin-based materials produced by this technology are especially useful for applications where materials may be leaked into the environment as unmanaged waste.

“We are constantly innovating to live up to our responsibility to optimize the Earth’s resources, as we combine nature and science in our Biotransformation PP - designed to be recycled or returned to nature,” he said. “By bringing Biotransformation technology to Hygiene markets, we hope to offer a real-world solution to waste management. We particularly hope to address aspects of the creation of fugitive waste and remove this from the environment without causing additional, and potentially more dangerous, problems.”

(c) IVL
16.12.2022

Indorama Ventures listed in the Dow Jones Sustainability Indices

Indorama Ventures Public Company Limited (IVL) has been included as a member of the Dow Jones Sustainability World Index (DJSI World) for the fourth consecutive year, with a 96 percentile, and the Dow Jones Sustainability Emerging Markets Index (DJSI Emerging Markets) for the sixth successive year, with a 99 percentile. The achievement aligns with IVL's purpose of “reimagining chemistry together to create a better world.”

In 2022, S&P Global invited over 11,000 companies to participate in the Corporate Sustainability Assessment (CSA). Companies with outstanding results were then considered eligible for any DJSI. This year, there were 86 chemical companies that led the field in terms of sustainability and were eligible for the DJSI World, which tracks the performance of the top 10% of the 2,500 largest companies, and 34 chemical companies eligible for the DJSI Emerging Markets, which tracks the performance of the top 10% of the 800 largest Emerging Markets companies. Out of which, IVL is among only 10 chemical companies in the DJSI World and only 3 chemical companies in the DJSI Emerging Markets.

Indorama Ventures Public Company Limited (IVL) has been included as a member of the Dow Jones Sustainability World Index (DJSI World) for the fourth consecutive year, with a 96 percentile, and the Dow Jones Sustainability Emerging Markets Index (DJSI Emerging Markets) for the sixth successive year, with a 99 percentile. The achievement aligns with IVL's purpose of “reimagining chemistry together to create a better world.”

In 2022, S&P Global invited over 11,000 companies to participate in the Corporate Sustainability Assessment (CSA). Companies with outstanding results were then considered eligible for any DJSI. This year, there were 86 chemical companies that led the field in terms of sustainability and were eligible for the DJSI World, which tracks the performance of the top 10% of the 2,500 largest companies, and 34 chemical companies eligible for the DJSI Emerging Markets, which tracks the performance of the top 10% of the 800 largest Emerging Markets companies. Out of which, IVL is among only 10 chemical companies in the DJSI World and only 3 chemical companies in the DJSI Emerging Markets.

IVL's consistently high ranking in DJSI is driven by the company's ambition to build its industry leadership in sustainability. Under Vision 2030, IVL is committed to reducing GHG intensity by 30% and increasing renewable electricity consumption to 25%. This year, IVL also committed to setting science-based targets through the Science Based Targets Initiative (SBTi). The company also participates in the SBTi Expert Advisory Group for the chemicals industry and provides funding for developing chemical sector decarbonization solutions.

Source:

Indorama Ventures Public Company Limited

(c) Indorama Ventures Public Company Limited
22.11.2022

Indorama Ventures’ Deja™ brand named winner of the Best Sustainable Product Award

Indorama Ventures Public Company Limited (IVL) has been named winner of the Best Sustainable Product Award at the Chemical Week Sustainability Awards 2022. The award was for IVL’s DejaTM Carbon Neutral pellets, a carbon-neutral virgin polyethylene terephthalate (PET) resins, helping to reduce environmental impact.

The Deja™ brand covers carbon neutral virgin and recycled PET resins and a range of recycled PET (rPET) products, including flakes, resins, fibers, and yarns. It provides IVL’s global customers with a range of high-performance applications, including packaging, lifestyle, automotive, apparel, and medical equipment. The solutions help environmentally conscious companies meet their sustainability goals.

IVL has set ambitious 2025 and 2030 targets, which shall be met through its six-pronged decarbonization strategy, including energy transition, improving operational efficiency, circular feedstock, and future technologies. The company also has a goal to recycle 100 billion PET bottles annually by 2030.

Indorama Ventures Public Company Limited (IVL) has been named winner of the Best Sustainable Product Award at the Chemical Week Sustainability Awards 2022. The award was for IVL’s DejaTM Carbon Neutral pellets, a carbon-neutral virgin polyethylene terephthalate (PET) resins, helping to reduce environmental impact.

The Deja™ brand covers carbon neutral virgin and recycled PET resins and a range of recycled PET (rPET) products, including flakes, resins, fibers, and yarns. It provides IVL’s global customers with a range of high-performance applications, including packaging, lifestyle, automotive, apparel, and medical equipment. The solutions help environmentally conscious companies meet their sustainability goals.

IVL has set ambitious 2025 and 2030 targets, which shall be met through its six-pronged decarbonization strategy, including energy transition, improving operational efficiency, circular feedstock, and future technologies. The company also has a goal to recycle 100 billion PET bottles annually by 2030.

Chemical Week Sustainability Awards recognize the industry's best efforts in addressing financial, operational, and strategic challenges by focusing on ESG and sustainable product development. The awards were assessed by S&P Global, the world's leading credit rating agency, and a panel of experts from various companies across the chemical industry's value chain.

(c) Indorama Ventures PCL
21.06.2022

Indorama Ventures works with Auping and TWE Group to deliver a fully circular mattress

The sustainable collaboration and innovation between Indorama Ventures (IVL), Auping and TWE Group presented a certified cradle to cradle process for mattress components across nonwoven applications, at Techtextil, Frankfurt, 21st to 24th June 2022.

Using circular research and design, the industry partnership between IVL Mullagh (Ireland), Auping and TWE Group has resulted in a perpetual, sustainable economic business model, for manufacturers globally. The inclusion of safe raw materials within mattress manufacturing allows the materials to be easily disassembled at the product’s end of use in order to be further reused as same components or recycled into new raw material at the same quality level, to enable versatile textile applications.

The sustainable collaboration and innovation between Indorama Ventures (IVL), Auping and TWE Group presented a certified cradle to cradle process for mattress components across nonwoven applications, at Techtextil, Frankfurt, 21st to 24th June 2022.

Using circular research and design, the industry partnership between IVL Mullagh (Ireland), Auping and TWE Group has resulted in a perpetual, sustainable economic business model, for manufacturers globally. The inclusion of safe raw materials within mattress manufacturing allows the materials to be easily disassembled at the product’s end of use in order to be further reused as same components or recycled into new raw material at the same quality level, to enable versatile textile applications.

Designed for disassembly to optimize the use of existing resources, reduce carbon footprint and support customer objectives all along their customers’ supply chain. This circular industry collaboration begins with design, where the mattress is constructed using only two different base materials, 100% PET polyester textiles and steel wire pocket springs connected with Niaga®️, a non toxic reversible adhesive, making the mattress easy to disassemble and recover.

IVL, Auping and TWE’s shared vision for a better world is demonstrated through their connected and innovative circularity that helps to close the loop. Auping collects, sorts and separates the collected fabrics, which then go to IVL Mullagh for processing, melting and extrusion to form polyester staple fiber. These staple fibers are then converted by TWE Group into nonwovens for use in Auping’s Evolve mattress, a fully circular mattress. Following the end of mattress use, the material recovery process simply starts again.

Auping estimates that annually more than 40 million mattresses are disposed of in Europe alone, the majority of which are incinerated. Their take back system in the Netherlands ensures that when their new mattress is delivered, the old mattress is retrieved and recycled, irrespective of the brand, ensuring existing materials are continually optimized, diverted from landfill and kept in use to achieve a circular economy.

Source:

Indorama Ventures PCL

19.06.2022

Indorama Venures: Faserinnovationen auf der Techtextil

Indorama Ventures Public Company Limited (IVL), einer der weltweit führenden Petrochemieproduzenten mit globaler Präsenz in Europa, Afrika, Nord- und Südamerika sowie im asiatisch-pazifischen Raum, wird auf der Techtextil die neuesten Entwicklungen und Innovationen seiner drei Faser-Sparten MOBILITY, HYGIENE und LIFESTYLE vorstellen. Diese drei Geschäftsbereiche vereinen Schlüsselkompetenzen in den Bereichen Fasern, Vliesstoffe und Gewebe für die Märkte Automobil, Hygiene, Funktionsmaterialien und Verbundwerkstoffe.

Unter dem Motto "Reimaging Chemistry together for a better World" wird ein breites Portfolio an nachhaltigen Produkten, fortschrittlichen Technologien und verbraucherorientierten Lösungen vorgestellt.

Ein Schwerpunkt wird die Marke Deja® sein — die Plattform für nachhaltige Produkte von Indorama Ventures. Sie umfasst u.a. Materialien wie Fasern aus recyceltem PET (rPET). Ziel ist es, Produkte im Umlauf zu halten und die Kreislaufwirtschaft zu etablieren.  Außerdem werden Materialien mit einem neutralen Kohlenstoff-Fußabdruck, darunter Breathair® und bio-basierte Produkte, präsentiert.

Indorama Ventures Public Company Limited (IVL), einer der weltweit führenden Petrochemieproduzenten mit globaler Präsenz in Europa, Afrika, Nord- und Südamerika sowie im asiatisch-pazifischen Raum, wird auf der Techtextil die neuesten Entwicklungen und Innovationen seiner drei Faser-Sparten MOBILITY, HYGIENE und LIFESTYLE vorstellen. Diese drei Geschäftsbereiche vereinen Schlüsselkompetenzen in den Bereichen Fasern, Vliesstoffe und Gewebe für die Märkte Automobil, Hygiene, Funktionsmaterialien und Verbundwerkstoffe.

Unter dem Motto "Reimaging Chemistry together for a better World" wird ein breites Portfolio an nachhaltigen Produkten, fortschrittlichen Technologien und verbraucherorientierten Lösungen vorgestellt.

Ein Schwerpunkt wird die Marke Deja® sein — die Plattform für nachhaltige Produkte von Indorama Ventures. Sie umfasst u.a. Materialien wie Fasern aus recyceltem PET (rPET). Ziel ist es, Produkte im Umlauf zu halten und die Kreislaufwirtschaft zu etablieren.  Außerdem werden Materialien mit einem neutralen Kohlenstoff-Fußabdruck, darunter Breathair® und bio-basierte Produkte, präsentiert.

Auch andere neue Technologien werden vor Ort zu sehen sein. Um die Verschmutzung der Umwelt durch Kunststoffe zu verringern, führt Indorama Ventures Polyolefinfasern und Vliesstoffe ein, die durch die kürzlich eingeführte Biotransformationstechnologie biologisch abbaubar sind. Biotransformation ist ein Prozess, bei dem sich der physikalische Zustand einer Faser von einem kristallinen Feststoff in ein bioverfügbares Wachs ändert.

Photo Carbios. Lionel Arras
30.05.2022

Carbios strengthens Executive Committee for Expansion Plans

Carbios announces the appointment of two new members to its Executive Committee: Lionel Arras, Industrial Development Director, and Mathieu Berthoud, Sourcing and Public Affairs Director.

Lionel Arras joined Carbios’ teams in 2021 to support the industrial growth of PET enzymatic recycling technology as Industrial Development Director. He was appointed to the Company’s Executive Committee on May 2. An engineer who graduated from ENSIC Nancy and holds an MBA from the Lyon School of Management, Lionel Arras has more than 25 years of experience in the field of process engineering and the chemical industry.
At Carbios, he now heads a team of around 50 people mobilized around three major divisions:
- the industrial demonstration plant, inaugurated last September in Clermont-Ferrand,
- technological development,
- the first Reference Unit project, installed on the Indorama Ventures site in Longlaville, Meurthe-et-Moselle, France.

Carbios announces the appointment of two new members to its Executive Committee: Lionel Arras, Industrial Development Director, and Mathieu Berthoud, Sourcing and Public Affairs Director.

Lionel Arras joined Carbios’ teams in 2021 to support the industrial growth of PET enzymatic recycling technology as Industrial Development Director. He was appointed to the Company’s Executive Committee on May 2. An engineer who graduated from ENSIC Nancy and holds an MBA from the Lyon School of Management, Lionel Arras has more than 25 years of experience in the field of process engineering and the chemical industry.
At Carbios, he now heads a team of around 50 people mobilized around three major divisions:
- the industrial demonstration plant, inaugurated last September in Clermont-Ferrand,
- technological development,
- the first Reference Unit project, installed on the Indorama Ventures site in Longlaville, Meurthe-et-Moselle, France.

Lionel Arras, Carbios’ Industrial Development Director: “After the successful start-up of our industrial demonstration plant in Clermont-Ferrand, we are continuing our scale-up with the construction of the first enzymatic recycling plant in the world in Longlaville, France. Its launch, scheduled for early 2025, will enable the processing of 50,000 tons of post-consumer PET waste or the equivalent of 2 billion bottles. It is a great source of pride for me to be able to support Carbios in this strategic development phase.”

Mathieu Berthoud will join Carbios as Sourcing and Public Affairs Director on June 1, 2022. With more than 30 years of experience, including 10 years at Rhodia (now Solvay) and more than 20 years at Suez, in various commercial development or subsidiary management positions, he was most recently Technical and Performance Director for the Group’s recycling and recovery activities. A university-trained scientist, he also holds an MBA from HEC Paris. At Carbios, he will be responsible for securing the supply of PET waste for the future reference plant in Longlaville and the other industrial sites that will follow. He will also manage the Company’s public affairs.

Indorama Ventures completes acquisition of Brazil-based Oxiteno, extending growth profile into attractive surfactant markets (c) Indorama Ventures Public Company Limited
(from left) Alastair Port, João Parolin
06.04.2022

Indorama Ventures now in Brasil

  • Indorama Ventures completes acquisition of Brazil-based Oxiteno, extending growth profile into attractive surfactant markets

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, today completed its acquisition of 100% of Brazil-based Oxiteno S.A. Indústria e Comércio, becoming a leading global supplier in high-value surfactant markets.

The acquisition of Oxiteno, formerly a subsidiary of Ultrapar Participações S.A., was announced in August 2021 and is effective from 1 April 2022 after the transaction was approved by Brazil’s Administrative Council for Economic Defense (CADE). Through the acquisition, IVL extends its growth profile into highly attractive markets in Latin America and the U.S., becoming the leading surfactants producer in the Americas, with additional potential to expand in Europe and Asia.

  • Indorama Ventures completes acquisition of Brazil-based Oxiteno, extending growth profile into attractive surfactant markets

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, today completed its acquisition of 100% of Brazil-based Oxiteno S.A. Indústria e Comércio, becoming a leading global supplier in high-value surfactant markets.

The acquisition of Oxiteno, formerly a subsidiary of Ultrapar Participações S.A., was announced in August 2021 and is effective from 1 April 2022 after the transaction was approved by Brazil’s Administrative Council for Economic Defense (CADE). Through the acquisition, IVL extends its growth profile into highly attractive markets in Latin America and the U.S., becoming the leading surfactants producer in the Americas, with additional potential to expand in Europe and Asia.

Oxiteno becomes part of IVL’s Integrated Oxides and Derivatives (IOD) business segment, which IVL formed in 2020 with the purchase of assets from U.S.-based Huntsman (Spindletop transaction). IOD is a high-margin growth driver alongside IVL’s traditional Combined PET (CPET) necessities segment and its Fibers segment. Together, IVL’s three segments create a stronger and more resilient integrated platform along the company’s petrochemicals value chain.

The Oxiteno acquisition includes 11 manufacturing plants in Latin America and the U.S., 5 R&D centers, an experienced management team, a strong environmental governance record, and expertise in green chemistry innovation. Through Oxiteno, IOD assumes a leading position in technologies catering to innovation-led, high-value-add (HVA) surfactant solutions in attractive home & personal care, crop solutions, and coating & resources markets. This diversity increases IOD’s earnings stability and resilience. The surfactants market has seen consistent growth over the last decade, driven by trends in population growth, urbanization and increasing hygiene awareness amid the global pandemic.

30.03.2022

Carbios & Indorama Ventures: Manufacturing plant for fully bio-recycled PET

  • The plan for the reference plant is to be operational in 2025 in France (Longlaville) with a processing capacity of 50.000 tons of PET waste per year and creating 150 direct and indirect new jobs.
  • Indorama Ventures, the world’s largest producer of recycled PET for beverage bottles, plans to co-invest in this project3 and will consider expanding Carbios’ unique biological recycling process at other PET sites4 for future developments.
  • This strategic project is strongly supported by the French Government and the Grand-Est Region, with significant non-dilutive financing.

Carbios (Euronext Growth Paris: ALCRB), a pioneer in the development of enzymatic solutions dedicated to the end-of-life of plastic and textile polymers and Indorama Ventures (Bloomberg ticker: IVL.TB), one of the world-leading PET manufacturer, jointly announced a collaboration to build a manufacturing plant operating Carbios’ PET bio-recycling technology at Indorama Ventures’ PET production site in France (Longlaville, Meurthe-et-Moselle).

  • The plan for the reference plant is to be operational in 2025 in France (Longlaville) with a processing capacity of 50.000 tons of PET waste per year and creating 150 direct and indirect new jobs.
  • Indorama Ventures, the world’s largest producer of recycled PET for beverage bottles, plans to co-invest in this project3 and will consider expanding Carbios’ unique biological recycling process at other PET sites4 for future developments.
  • This strategic project is strongly supported by the French Government and the Grand-Est Region, with significant non-dilutive financing.

Carbios (Euronext Growth Paris: ALCRB), a pioneer in the development of enzymatic solutions dedicated to the end-of-life of plastic and textile polymers and Indorama Ventures (Bloomberg ticker: IVL.TB), one of the world-leading PET manufacturer, jointly announced a collaboration to build a manufacturing plant operating Carbios’ PET bio-recycling technology at Indorama Ventures’ PET production site in France (Longlaville, Meurthe-et-Moselle).

After having successfully started-up its demonstration plant in Clermont-Ferrand, Carbios is moving one step further towards the industrialization and commercialization by partnering with Indorama Ventures. The goal is to build and operate in France the world’s first industrial-scale enzymatic PET bio-recycling plant, with a processing capacity estimated at ca. 50.000 tons of post-consumer PET waste per year, equivalent to 2 billion PET bottles or 2.5 billion PET trays.

The capital investment required for the project is expected to be around €150 million for Carbios core technology, including in particular an additional purification step, which has been integrated into the process. In addition, an estimated €50 million investment will be allocated for the infrastructure preparation of the site. The project is expected to create approximatively 150 direct and indirect full-time jobs. In the coming months, Carbios expects to finalize a strong non-dilutive financial support from French Government and from the Grand-Est Region5, based on the offer received last week by Carbios, from the Minister of Industry, Agnès Pannier-Runacher and the President of Grand-Est Region, Jean Rottner.

This financial support will be conditional on the notification to the European Commission and on contractualization by French authorities. Carbios announced in its half-year results on the 30th September 2021 a cash position of €112 million. Since then, Carbios has also secured a €30 million loan from EIB.

Source:

Carbios

02.03.2022

Indorama Ventures reports record FY2021 performance as the global recovery drove volumes

  • IVL commits to being an industry leader in sustainability under ‘Vision 2030’

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, today reported a record FY2021 performance as the economic recovery drove demand across the company’s global footprint. 

Mr Aloke Lohia, Indorama Ventures Group CEO, said: “In 2021 we proved the resilience of our global footprint and our integrated portfolio across the polyester value chain. The past two years were an unprecedented period of disruption in which our business model’s robustness and our teams’ agility were tested. Having reset our business plan for the ‘new normal’ era, I have never been more confident in our model, our strategy, and our teams."

2021 Summary

In 2021, IVL delivered Core EBITDA of US$1,743 million (up 55% YoY) on production volumes of 14.72 MMT (up 7% YoY). Consolidated Revenue increased 38% YoY to US$14,629 million as consumer confidence rebounded and the company’s resilient model benefited from rising inflation, energy price hikes and supply chain shocks.

  • IVL commits to being an industry leader in sustainability under ‘Vision 2030’

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, today reported a record FY2021 performance as the economic recovery drove demand across the company’s global footprint. 

Mr Aloke Lohia, Indorama Ventures Group CEO, said: “In 2021 we proved the resilience of our global footprint and our integrated portfolio across the polyester value chain. The past two years were an unprecedented period of disruption in which our business model’s robustness and our teams’ agility were tested. Having reset our business plan for the ‘new normal’ era, I have never been more confident in our model, our strategy, and our teams."

2021 Summary

In 2021, IVL delivered Core EBITDA of US$1,743 million (up 55% YoY) on production volumes of 14.72 MMT (up 7% YoY). Consolidated Revenue increased 38% YoY to US$14,629 million as consumer confidence rebounded and the company’s resilient model benefited from rising inflation, energy price hikes and supply chain shocks.

Macroeconomic tailwinds supported IVL’s performance, including government stimulus packages. In premium western markets, higher freight rates improved the company’s local import parity pricing advantage. In the fourth quarter, the introduction of China’s dual control policy widened polyester margins. 

IVL’s largest Combined PET segment posted a 39% increase in Core EBITDA to US$1,103 million in the context of strong demand and low inventories. The resetting of PET contracts in 2022 is expected to capture higher freight rates and the consequent beneficial impact on import parity. The segment is expected to enjoy improved margins in 2022.

Integrated Oxides & Derivatives (IOD) recorded a Core EBITDA of US$377 million, up 228% from a year earlier. With higher oil prices expected to continue into 2022, the segment will continue to benefit from shale gas economics, improving MEG spreads, and upside from Lake Charles (IVOL) ethylene cracker, which resumed operations in late 2021. The Oxiteno acquisition, expected to close in H1 2022, will bring complementary products, green energy innovation, and geographical diversification to the IOD segment.

Fibers segment delivered a 37% increase in Core EBITDA of US$268 million as volumes rose 11%. Margins widened due to tighter markets and a favorable product mix, with setbacks coming from energy and commodity price increases, while the ongoing semiconductor shortage impacted the Mobility vertical.

Mr D K Agarwal, CEO and CFO at Indorama Ventures, said: “The performance was a result of a number of important macroeconomic factors, such as heightened crude oil prices, supply disruptions, and resurgent consumer confidence as vaccinations were rolled out in the pandemic’s second full year. These factors led to improved margins and benefited us as a preferred regional supplier that can react quickly to fulfill our customer needs. Our transformation programs that we started three years ago are also delivering efficiency gains faster than planned. As the world emerges from the pandemic, our increased confidence in IVL’s resilient model sets a strong foundation for further growth through 2024.”

Source:

Indorama Ventures Public Company Limited

(c) Avgol
01.03.2022

Avgol® puts sustainability front and center at IDEA22

  • Company underlines commitment to helping customers meet 2030 sustainability goals

Avgol® Industries 1953 Ltd, a global leader in the manufacture of high-performance nonwoven fabric solutions, will use this month’s IDEA22 to underline its commitment to helping customers meet their long-term sustainability objectives.

The company will highlight the latest work in biodegradation technology for polyolefin nonwoven fabrics at the Miami Beach event, showcasing its own range of component nonwoven fabric solutions. Together with its sister companies from Indorama Ventures Limited (‘IVL’) – who will be presenting biodegradation capable polyolefin and polyester fibers – Avgol will discuss with visitors how specific products can help businesses achieve their 2030 sustainability goals.

 

  • Company underlines commitment to helping customers meet 2030 sustainability goals

Avgol® Industries 1953 Ltd, a global leader in the manufacture of high-performance nonwoven fabric solutions, will use this month’s IDEA22 to underline its commitment to helping customers meet their long-term sustainability objectives.

The company will highlight the latest work in biodegradation technology for polyolefin nonwoven fabrics at the Miami Beach event, showcasing its own range of component nonwoven fabric solutions. Together with its sister companies from Indorama Ventures Limited (‘IVL’) – who will be presenting biodegradation capable polyolefin and polyester fibers – Avgol will discuss with visitors how specific products can help businesses achieve their 2030 sustainability goals.

 

More information:
Avgol IDEA
Source:

PHD Marketing & Strategy for Avgol

18.02.2022

Indorama Ventures acquires 85% equity stake in UCY Polymers CZ s.r.o. (UCY)

  • New partnership will recycle over 1.6 billion PET beverage bottles in the Czech Republic by 2025

Indorama Ventures Public Company Limited (IVL), the world’s largest producer of recycled PET for beverage bottles, completed a deal for an 85% equity stake in Czech Republic-based PET plastic recycler, UCY Polymers CZ s.r.o. (UCY), boosting the country and Europe’s plastic collection and recycling ambitions.

As a result of the investment, IVL will recycle about 1.12 billion additional post-consumer PET (polyethylene terephthalate) plastic bottles in the Czech Republic every year by 2025, increasing the total bottles recycled by UCY across the Czech Republic, Germany and Central Europe to 1.6 billion bottles per year. IVL, a global sustainable chemicals company, is investing USD1.5 billion globally to expand recycling facilities and sustainable production, including boosting its recycling capacity to 750,000 tons per year by 2025.

  • New partnership will recycle over 1.6 billion PET beverage bottles in the Czech Republic by 2025

Indorama Ventures Public Company Limited (IVL), the world’s largest producer of recycled PET for beverage bottles, completed a deal for an 85% equity stake in Czech Republic-based PET plastic recycler, UCY Polymers CZ s.r.o. (UCY), boosting the country and Europe’s plastic collection and recycling ambitions.

As a result of the investment, IVL will recycle about 1.12 billion additional post-consumer PET (polyethylene terephthalate) plastic bottles in the Czech Republic every year by 2025, increasing the total bottles recycled by UCY across the Czech Republic, Germany and Central Europe to 1.6 billion bottles per year. IVL, a global sustainable chemicals company, is investing USD1.5 billion globally to expand recycling facilities and sustainable production, including boosting its recycling capacity to 750,000 tons per year by 2025.

UCY is a strategic fit for IVL as a backward integration into the company’s expanding recycled PET (rPET) footprint in Europe and across the world to secure feedstock for rPET products. UCY can produce 40,000 tonnes of recycled PET flake per year. IVL will develop UCY to serve the increasing demand for recycled PET in Europe.

UCY will work with IVL’s existing PET flake production facilities in the region. These provide the washed and shredded post-consumer bottles as PET flake feedstock to produce recycled PET resin that is suitable for food contact use. PET is fully recyclable and the most collected and recycled plastic packaging in Europe.

18.01.2022

Indorama Ventures’ Hygiene Division achieves ISCC Plus Certification

The Hygiene Division of Indorama Ventures Public Company Limited (IVL) is pleased to announce that two of its manufacturing sites have achieved International Sustainability Carbon Certification Plus Certification.

FiberVisions’ Varde site in Denmark, a polypropylene fiber producer, and Avgol’s Uzlovaya site in Russia, a spunlaid nonwovens producer, satisfied audits related to traceability and the reasonable use of biomaterials.

Shachar Rachim, CEO, IVL Hygiene Division, part of IVL’s Fibers business segment, said: “This accreditation underscores our commitment to support our customers to achieve their carbon dioxide reduction targets through using carbon neutral fibers. The certification is assurance that our nonwoven fabrics and fibers meet all the ISCC’s demanding standards for recycled-renewable materials. Our certified facilities can trace the product’s composition through the supply chain, without needing to requalify the materials.”

The Hygiene Division of Indorama Ventures Public Company Limited (IVL) is pleased to announce that two of its manufacturing sites have achieved International Sustainability Carbon Certification Plus Certification.

FiberVisions’ Varde site in Denmark, a polypropylene fiber producer, and Avgol’s Uzlovaya site in Russia, a spunlaid nonwovens producer, satisfied audits related to traceability and the reasonable use of biomaterials.

Shachar Rachim, CEO, IVL Hygiene Division, part of IVL’s Fibers business segment, said: “This accreditation underscores our commitment to support our customers to achieve their carbon dioxide reduction targets through using carbon neutral fibers. The certification is assurance that our nonwoven fabrics and fibers meet all the ISCC’s demanding standards for recycled-renewable materials. Our certified facilities can trace the product’s composition through the supply chain, without needing to requalify the materials.”

IVL expects that the ISCC Plus certification of these two sites will be followed by similar certifications at other manufacturing plants. A broad portfolio of technologies is being developed to address how component materials interact with the environment to improve recyclability, reduce raw material consumption, and minimize the impact of fugitive wastes.

Source:

Indorama Ventures Public Company Limited

14.01.2022

Indorama Ventures wins “Best Sustainability-Linked Transaction & Best ESG-Linked Financing Deal of the Year”

Indorama Ventures Public Company Limited (IVL) was awarded “Best Sustainability-Linked Transaction & Best ESG-Linked Financing Deal of the Year” for its THB 10 billion Sustainability-Linked Bond (SLB) issued in November 2021.

The award was announced at the 15th Best Deal & Solution Awards 2021 by Alpha Southeast Asia, an institutional publication focused on investment in Southeast Asia. This recognition marks IVL's commitment to sustainable growth and ESG performance as a global leader in the chemical industry.

Yash Lohia, Chairman of ESG Council at Indorama Ventures, said, "This award reflects our long-standing commitment to sustainability and creating opportunities for investors to take part in the positive transformation of the chemical industry. This award confirms that financial markets value our ambitious sustainability and ESG efforts towards a more sustainable future.”

Indorama Ventures Public Company Limited (IVL) was awarded “Best Sustainability-Linked Transaction & Best ESG-Linked Financing Deal of the Year” for its THB 10 billion Sustainability-Linked Bond (SLB) issued in November 2021.

The award was announced at the 15th Best Deal & Solution Awards 2021 by Alpha Southeast Asia, an institutional publication focused on investment in Southeast Asia. This recognition marks IVL's commitment to sustainable growth and ESG performance as a global leader in the chemical industry.

Yash Lohia, Chairman of ESG Council at Indorama Ventures, said, "This award reflects our long-standing commitment to sustainability and creating opportunities for investors to take part in the positive transformation of the chemical industry. This award confirms that financial markets value our ambitious sustainability and ESG efforts towards a more sustainable future.”

IVL's THB 10 billion issuance sets a new benchmark as the largest SLB transaction in Thailand and the first offered to both institutions and high-net-worth investors. The financial instrument is linked to the company's sustainability goals of reducing GHG emissions intensity by 10% by 2025, increasing recycling of PET bale input to 750,000 tons per year by 2025, and achieving 25% renewable electricity consumption in 2030.

IVL appointed Bangkok Bank, Kasikorn Bank, Krungthai Bank, Siam Commercial Bank, and the Bangkok branch of HSBC as as arrangers and bookrunners for the green transaction.

Source:

Indorama Ventures Public Company Limited

(c) Indorama Ventures Public Company Limited
23.12.2021

Indorama Ventures awarded by EcoVadis and ChemScore

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, has been awarded the Platinum Medal by EcoVadis Sustainability Assessment. The company also achieved first place in ChemScore, which ranks the world’s 50 largest chemical companies’ environmental credentials.

EcoVadis, a leading rating agency focusing on sustainability in the supply chain, awarded IVL its Platinum Medal, one of the highest awards for sustainability performance. IVL ranked in the top 1% of all companies assessed worldwide, with above industry-average performances in all four assessment areas, including environment, labor & human rights, ethics and sustainable procurement. IVL has continuously improved its ranking over five years, from the top 3% that it achieved in 2017.

ChemScore, which assesses one of the world's biggest chemical companies’ environmental impact and management of hazardous chemicals, is a respected sustainability benchmark in the chemical sector. IVL ranked 1st among 50 chemical companies accessed.

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, has been awarded the Platinum Medal by EcoVadis Sustainability Assessment. The company also achieved first place in ChemScore, which ranks the world’s 50 largest chemical companies’ environmental credentials.

EcoVadis, a leading rating agency focusing on sustainability in the supply chain, awarded IVL its Platinum Medal, one of the highest awards for sustainability performance. IVL ranked in the top 1% of all companies assessed worldwide, with above industry-average performances in all four assessment areas, including environment, labor & human rights, ethics and sustainable procurement. IVL has continuously improved its ranking over five years, from the top 3% that it achieved in 2017.

ChemScore, which assesses one of the world's biggest chemical companies’ environmental impact and management of hazardous chemicals, is a respected sustainability benchmark in the chemical sector. IVL ranked 1st among 50 chemical companies accessed.

Mr. Yash Lohia, Chief Sustainability Officer at Indorama Ventures, said, “Recognition by EcoVadis and ChemScore marks another milestone in IVL's sustainability journey. We view sustainability not only within our business, but also across our supply chain. Working with suppliers to improve practices and supporting our customers to achieve sustainability targets helps build the sustainability mindset throughout our sector. This collective action contributes toward the UN Sustainable Development Goals (SDGs). The awards are dedicated to our teams as they continue to do better in achieving our vision of being a world-class sustainable chemical company making great products for society.”

Source:

Indorama Ventures Public Company Limited

(c) Indorama Ventures
18.11.2021

Indorama Ventures included in the Dow Jones Sustainability Indices (DJSI)

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, announced its inclusion in the Dow Jones Sustainability World Index (DJSI World) and the Dow Jones Sustainability Emerging Markets Index (DJSI Emerging Markets) for the third and fifth consecutive year respectively. The successive years of DJSI inclusion reflect IVL’s strong commitment to sustainability with globally recognized industry best-in-class practices.

This year, 139 chemical companies were selected from more than 11,000 companies from 61 industries and about 5,300 companies eligible for S&P Global ESG indices. IVL ranked in the 97th percentile with full scores in the areas of environmental and social compliance, enabling policies through industry associations, human rights protections in the workplace and value chain, and sustainable water management including forecasting potential water related risks in operations.

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, announced its inclusion in the Dow Jones Sustainability World Index (DJSI World) and the Dow Jones Sustainability Emerging Markets Index (DJSI Emerging Markets) for the third and fifth consecutive year respectively. The successive years of DJSI inclusion reflect IVL’s strong commitment to sustainability with globally recognized industry best-in-class practices.

This year, 139 chemical companies were selected from more than 11,000 companies from 61 industries and about 5,300 companies eligible for S&P Global ESG indices. IVL ranked in the 97th percentile with full scores in the areas of environmental and social compliance, enabling policies through industry associations, human rights protections in the workplace and value chain, and sustainable water management including forecasting potential water related risks in operations.

Yash Lohia, Chief Sustainability Officer at Indorama Ventures, said, "As a global leader, this is an important milestone in our operations as we transform the chemical industry. Our inclusion in the DJSI for the fifth year running is a tribute to how IVL’s operations are contributing to a more sustainable future. Our strategy includes focusing on climate action, aligning with the world's net zero ambitions, strengthening the circular economy and PET recycling with our ambitious targets, and enhancing shared value with our stakeholders.”

The Dow Jones Sustainability Indices (DJSI) are a global benchmark for sustainability-driven companies, evaluating material governance & economic, environmental and social factors.

Source:

Indorama Ventures Public Company Limited

03.11.2021

Indorama Ventures issues THB 10 billion Sustainability-Linked Bond

Indorama Ventures Public Company Limited issued a THB 10 billion triple-tranche Sustainability-Linked Bond, showcasing the company’s long-standing commitment to sustainable growth. It is the largest SLB issued in Thailand and the first offered to both institutions and high-net-worth investors.

The bond is part of IVL’s financing strategy across a range of instruments linked to the company’s sustainability targets. It is aligned with internationally accepted standards including International Capital Markets Association’s (ICMA) Sustainability-Linked Bond Principles and the Loan Market Association’s (LMA) Sustainability Linked Loan Principles.

The SLB is linked to IVL’s performance of reducing GHG emissions intensity by 10% by 2025 (from a 2020 base), increasing recycling of PET bale input to 750,000 tons per year by 2025, and achieving 25% renewable electricity consumption in 2030.

Indorama Ventures Public Company Limited issued a THB 10 billion triple-tranche Sustainability-Linked Bond, showcasing the company’s long-standing commitment to sustainable growth. It is the largest SLB issued in Thailand and the first offered to both institutions and high-net-worth investors.

The bond is part of IVL’s financing strategy across a range of instruments linked to the company’s sustainability targets. It is aligned with internationally accepted standards including International Capital Markets Association’s (ICMA) Sustainability-Linked Bond Principles and the Loan Market Association’s (LMA) Sustainability Linked Loan Principles.

The SLB is linked to IVL’s performance of reducing GHG emissions intensity by 10% by 2025 (from a 2020 base), increasing recycling of PET bale input to 750,000 tons per year by 2025, and achieving 25% renewable electricity consumption in 2030.

The triple-tranche structure includes 5-, 7-, and 10.5-year tenors, offering coupons of 2.48%, 3.00% and 3.60% per year respectively, targeting asset managers, commercial banks, insurance companies, cooperatives and high-net-worth individuals. With the orderbook peaking at over THB 17.8 billion due to strong interest in the sustainability-linked instrument, oversubscription was around 3x over the planned issuance amount of THB 6 billion with a green shoe option of THB 4 billion. In view of the strong orderbook from the investors, the company decided to exercise the green shoe option and increased the issuance to THB 10 billion, setting a new benchmark as the largest SLB transaction in Thailand. IVL appointed Bangkok Bank, Kasikorn Bank, Krungthai Bank, Siam Commercial Bank, and The Hongkong and Shanghai Banking Corporation Limited, Bangkok Branch as arrangers and bookrunners for the transaction.

On 23 September 2021, the bond was assigned an AA- rating and a “stable” outlook by TRIS Rating following a strong recovery of petrochemicals and derivatives and IVL’s growing profitability.

Under the terms, all tranches must purchase Energy Attribute Certificates (EAC) or voluntary carbon offsets in the event of failure to meet the sustainability performance targets (SPT). The testing dates for tenors with a maturity of 5 and 7 years are 31 December 2025, and 31 December 2030 for the 10.5-year tenor. SPT performance will be independently verified upon the testing dates.Proceeds for the issuance will be used to finance IVL’s corporate working capital and refinance existing debt.

In recent years, IVL secured loans linked to improvements in the company’s sustainability performance as a global leader in environmental, social and governance (ESG) integration. These included Thailand’s first Green Loan of USD 200 million and EUR 200 million from Japan’s Mizuho Bank, Thailand’s first cross-border Sustainability-Linked Ninja Loan worth USD 225 million from 16 institutions in Japan and a Blue Loan of USD 300 million arranged by International Finance Corporation and funded by Asian Development Bank and DEG.

Source:

Indorama Ventures Public Company Limited

Indorama Ventures launches its 10th annual Sustainability Report celebrating a decade of PET recycling and carbon reduction milestones (c) Indorama Ventures Public Company Limited
10th annual Sustainability Report
27.10.2021

Indorama Ventures launches its 10th annual Sustainability Report

  • IVL is celebrating a decade of PET recycling and carbon reduction milestones
  • Over 10 years, IVL has achieved a 100x increase in recycled PET

Indorama Ventures Public Company Limited (IVL), a world-class sustainable chemical company, launches its 10th annual Sustainability Report and a video celebrating a decade of ambitious PET recycling and carbon reduction milestones. The company is committed to intensifying its drive towards ending plastic waste and a more circular economy in the decade ahead.

Since its first Sustainability Report in 2011, IVL has grown its sustainability initiatives through the 3Ps – People, Planet and Prosperity. From the baseline in 2013, the company achieved a 10% reduction in GHG intensity, 4% in energy intensity and 7% in water intensity. It also increased total waste diverted from landfill from 48% to 84% in 2020. Moreover, IVL’s global PET recycling capacity has improved almost 100 times from 3,576 tons per year in 2011 – the first entry of IVL to the PET recycling business – to more than 330,000 tons per year in the second quarter of 2021.

  • IVL is celebrating a decade of PET recycling and carbon reduction milestones
  • Over 10 years, IVL has achieved a 100x increase in recycled PET

Indorama Ventures Public Company Limited (IVL), a world-class sustainable chemical company, launches its 10th annual Sustainability Report and a video celebrating a decade of ambitious PET recycling and carbon reduction milestones. The company is committed to intensifying its drive towards ending plastic waste and a more circular economy in the decade ahead.

Since its first Sustainability Report in 2011, IVL has grown its sustainability initiatives through the 3Ps – People, Planet and Prosperity. From the baseline in 2013, the company achieved a 10% reduction in GHG intensity, 4% in energy intensity and 7% in water intensity. It also increased total waste diverted from landfill from 48% to 84% in 2020. Moreover, IVL’s global PET recycling capacity has improved almost 100 times from 3,576 tons per year in 2011 – the first entry of IVL to the PET recycling business – to more than 330,000 tons per year in the second quarter of 2021.

Celebrating 10 years of sustainability reporting
Throughout the decade, IVL has voluntarily adopted international standards for its sustainability reports to drive benefits for the environment, society and economy. The effort resulted in recognition by world-class sustainability ratings agencies such as the Dow Jones Sustainability Indices (DJSI) and the Morgan Stanley Capital International (MSCI).

Recent Sustainability Reports have featured business cases and special situations such as COVID-19. In 2016, IVL was the first Thailand-based company to introduce an additional, shorter version of the report called the Sustainability Report Executive Summary. This year, IVL has made further improvements with an interactive approach, including links to videos and shortcuts to highlighted articles. As a global company operating in 33 countries, the report is available in 15 languages.

On track to recycle 50 billion bottles per year by 2025
In 2020 IVL recycled 10.1 billion PET bottles and is on track to recycle 50 billion bottles per year by 2025. The company’s global reach and leadership position as the world’s largest PET and recycled PET resin producer allow IVL to leverage a closed-loop system. In 2020 IVL invested in three additional recycling facilities and recently acquired CarbonLite’s recycling assets in Texas.