Investing.com - 10/29/2024
By Writing Team
Posted in October 29, 2024
Ambipar Participações e Empreendimentos (BVMF:AMBP3) announced that it has expanded its strategic alliance with Dow to foster the transformation of the plastic recycling market in Brazil. The partnership aims to lead polyethylene recycling in Brazil by 2030. Thus, operations are expected to increase from 2,000 to 60,000 tons per year by this deadline, according to a relevant fact disclosed on the morning of Tuesday, October 28.
The memorandum of understanding (MoU) provides for the evaluation of the construction of new mechanical recycling facilities. With more efficient technology, it would be possible to transform 80,000 tons of plastic waste into about 60,000 tons of post-consumer resin (PCR) annually.
According to Ambipar, the partnership “aims to establish an efficient recycling platform, combining Ambipar’s ability to collect plastic waste with Dow’s material science and application development.”
In addition, the companies are expected to “provide circular solutions for packaging manufacturers, brands, and consumers, strengthening the circular economy in Brazil and the region.”
Shares of Ambipar closed yesterday’s trading session up 0.65%, at R$132.40.
