SEOUL, South Korea, 31 March 2023 – TotalEnergies Corbion, POSCO International and ESOL announced yesterday a partnership aimed at developing the PLA recycling infrastructure and technology in South Korea. Over the coming years, the partnership will contribute to the Korean Government framework for Carbon Neutrality.
POSCO International aims to enter the biobased plastic recycling sector as part of its bid to expand its green portfolio. While POSCO International will oversee and finance the project, ESOL is responsible for retrieving the Post Consumer Recycle (PCR) PLA waste and further advance the technology to collect, sort. clean, purify and rework the PLA. TotalEnergies Corbion will be supporting the project with knowhow and experience in the field of advanced PLA recycling.
“TotalEnergies Corbion is already supplying Luminy® rPLA, a recycle based PLA, to the South Korean market and creating a local plan to reprocess PLA waste will just accelerate the transition to an even more circular economy” – said Thomas Philippon, TotalEnergies Corbion CEO.
As a low carbon footprint alternative to conventional plastics, the PLA market is rapidly growing. The global bioplastic market is now growing at an annual growth rate of over 20%. The mechanically and advanced recycling of Luminy® will allow PLA to become a material of choice for bottles, containers, and other food service and packaging products. The ability to recycle an already biobased and low carbon footprint makes PLA an exceptional circular material.
ESOL is a Korean Company which brings to market a large range of PLA based products in Korea. Through its supply chain the company aims to establish a PLA recycling structure, leveraging TotalEnergies Corbion existing advanced recycle technology and infrastructure. With an expected growth of the PLA market in Korean, PLA will contribute for a sustainable use of plastics.
POSCO International executive vice president Lee Sang-hoon, stated "We expect to enhance our ESG business and, furthermore, to help our society to transform to a circular economy."
POSCO International started trading bioplastics in 2019 and has been growing its market power in the bioplastics market ever since. Playing a major role in the eco-friendly conversion of the plastic industry, POSCO International plans to finish developing the PCR of PLA technology by 2026. It also has started a campaign named Green Butterfly with ESOL to promote the retrieval of used PLA.
Kevin Cho, head of TotalEnergies Corbion Korea; Lee Sang-hoon, executive vice president at Posco International and Oh Hong-ki, president of Esol, (from left to right) pose for a photo during a signing ceremony on bioplastic recycling on Friday. (Posco International)
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For more information please contact:
Rui Veras
Marketing Communications Manager
M +31 629 055 522
E rui.veras@totalenergies-corbion.com
François de Bie
Senior Marketing & Supply Chain Director
M +31 611 716 895
E francois.debie@totalenergies-corbion.com
About TotalEnergies Corbion
TotalEnergies Corbion (formerly known as Total Corbion PLA) is a global technology leader in Poly Lactic Acid (PLA) and lactide monomers. PLA is a biobased and biodegradable polymer made from annually renewable resources, offering a reduced carbon footprint versus traditional plastics. The Luminy® PLA portfolio, which includes both high heat and standard PLA grades, is an innovative material that is used in a wide range of markets from packaging to consumer goods, fibers and automotive. TotalEnergies Corbion, headquartered in the Netherlands, operates a 75,000 tons per year PLA production facility in Rayong, Thailand and has recently announced the intention to build a second plant in Grandpuits, France. The company is a 50/50 joint venture between TotalEnergies and Corbion. www.totalenergies-corbion.com
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people. www.totalenergies.com
About Corbion
Corbion is the global market leader in lactic acid and its derivatives, and a leading supplier of emulsifiers, functional enzyme blends, minerals, vitamins, and algae ingredients. We use our unique expertise in fermentation and other processes to deliver sustainable solutions for the preservation of food and food production, health, and our planet. For over 100 years, we have been uncompromising in our commitment to safety, quality, innovation and performance. Drawing on our deep application and product knowledge, we work side-by-side with customers to make our cutting-edge technologies work for them. Our solutions help differentiate products in markets such as food, home & personal care, animal nutrition, pharmaceuticals, medical devices, and bioplastics. Corbion is listed on Euronext Amsterdam. www.corbion.com
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