Building on its expertise partnership with IBM and Under Armour, Technip Energies publicizes the launch of Reju, an revolutionary firm centered on creating new options at scale for the huge quantity of plastic fiber in textiles that goes unrecycled and finally ends up as waste. Former Under Armour CEO and attire business veteran Patrik Frisk is heading the brand new firm together with Alain Poincheval, COO, a senior govt with Technip Energies.
PARIS, November 14, 2023–(BUSINESS WIRE)–Regulatory News:
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Former Under Armour CEO and attire business veteran Patrik Frisk (on the left) is heading the brand new firm Reju, together with Alain Poincheval (on the precise), COO, a senior govt with Technip Energies. (Photo: Business Wire)
Technip Energies (PARIS: TE) (ISIN:NL0014559478) publicizes the creation of Reju, a brand new firm centered on PET (Polyethylene terephthalate) recycling (rPET) of textiles that may leverage the revolutionary expertise co-developed in joint-venture with IBM and Under Armour in addition to Technip Energies’ world engineering and expertise integration experience.
Reju will handle the fast-growing market of world rPET whose demand from the textile market is predicted to develop as much as 20 Mtpa by 2033, pushed by business pledges and targets on recycling, regulation and shopper consciousness of the necessity to scale back plastic waste.
Technip Energies, IBM and Under Armour have been working collectively since 2021 in a three way partnership to convey VolCat, an IBM expertise for rejuvenating waste PET packaging and polyester, to an industrial scale. VolCat permits the selective breakdown of polymers which IBM first utilized to applied sciences like semiconductor lithography and microelectronics packaging. Reju intends to make use of this expertise to handle hard-to-recycle polyester clothes and PET packaging misplaced to the waste stream right this moment. With this expertise, performing as a molecular sorter, PET could possibly be regenerated infinitely.
The groundbreaking ceremony for Reju’s demonstration plant took place in September in Technip Energies Frankfurt Research Center with the ability anticipated to return on stream in 2024.
Arnaud Pieton, CEO of Technip Energies, commented: “Globally, less than 1% of PET textiles waste is recycled right this moment. This signifies that most textiles find yourself as waste in landfills once they could possibly be repeatedly reused in new garments. What has been holding the world again in textile circularity shouldn’t be an absence of demand for textile recycling however the lack of an answer that makes recycling of textiles economical on an industrial scale. For the primary time on this area, a novel scalable expertise is instantly related to a scalability skilled like Technip Energies. Reju will ship the promise of economical textile recycling, and we’re proud to increase our position as an lively agent of circularity.”
Arvind Krishna, CEO of IBM, stated: “The well being of our planet has by no means been extra urgent, and the quantity of style attire and textiles that find yourself in landfills right this moment is gigantic. The excellent news is that expertise can assist clear up this problem. IBM is proud to supply its VolCat expertise to help Reju in advancing sustainable textile recycling. We look ahead to collaborating with Technip Energies and Reju to champion initiatives like these that place sustainability on the coronary heart of the worldwide textile business.”
Patrik Frisk, CEO of Reju, declared: “We have the chance to ascertain a real round ecosystem for textile recycling and invite collaboration throughout your complete worth chain, encompassing collectors and sorters, chemical firms, and the attire business. Through the creation of Reju, we’re laying the groundwork for an ecosystem that may profoundly remodel the PET textile business, and brings us nearer to a world that has moved previous air pollution.”
About Technip Energies
Technip Energies is a number one Engineering & Technology firm for the power transition, with management positions in Liquefied Natural Gas (LNG), hydrogen and ethylene in addition to rising market positions in blue and inexperienced hydrogen, sustainable chemistry and CO2 administration. The firm advantages from its strong venture supply mannequin supported by intensive expertise, services and products providing.
Operating in 35 international locations, our 15,000 persons are totally dedicated to bringing our shopper’s revolutionary tasks to life, breaking boundaries to speed up the power transition for a greater tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) buying and selling over-the-counter within the United States. For additional info: www.ten.com
See www.reju.com for added context and updates to return.
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Forward-Looking Statement
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