Suntory, Others Set Up Plastic Recycling JV
Tokyo, June 30 (Jiji Press)--A group of 12 Japanese companies including Suntory Holdings Ltd. said Tuesday that they have established a joint venture to develop technology to recycle used plastic.
The group, also including Toyobo Co. <3101> and Rengo Co. <3941>, invested a total of 2.5 billion yen in R Plus Japan Ltd. The company hopes to reduce plastic waste that contributes to marine pollution by putting its technology into practical use by 2027.
R Plus Japan will utilize technology owned by U.S. biotechnology startup Anellotech Inc., which is developing a plastic bottle made entirely from plant-based materials in collaboration with Suntory.
The new company will seek to develop technology to turn into raw materials plastic used in bottles, shopping bags and food trays.
R Plus Japan is asking for investment from a wide range of businesses. It will provide its technology to companies looking to build recycling plants.
[Copyright The Jiji Press, Ltd.]