Plastonix & Vee Technologies Partner for Plastic Recycling in India
Tuesday, 26 November 2024, 10:54 IST
Canadian plastics recycling technologies company Plastonix Inc . has signed a Memorandum of Understanding (MoU) with Bengaluru-headquartered and New York-based technology and IT services firm Vee Technologies . The MoU outlines plans for a 50:50 joint venture to develop the first of its kind plastic waste recycling system in India , using Plastonix's patent-pending technology.
Vee will select the pilot facility site, known as the Pilot Project. As an Engineering Company, Vee Technologies will design, construct the plant, and equip it with proprietary machinery. The pilot will be used as a test bed for optimizing the commercialization of the Plastonix technology in India to the joint venture benefit.
Building on the success of the pilot, both companies are planning to launch a comprehensive plastic recycling program across India in order to tackle the rising plastic waste problem within the region. Vee Technologies will include Plastonix's technology in all recycling plants developed and operated under the joint venture.
India faces a significant challenge with plastic waste, which has prompted the government to implement Plastic Waste Management Rules in 2016. Plastonix has developed a novel chemical recycling method that overcomes many of the challenges faced by traditional recycling processes, including recycling hard-to-process plastics.
New Plastonix technology can be used to recycle all forms of plastic, including mixed and individual types, to develop a brand-new material for use in durable goods, such as construction materials. This can help to address India's plastic-waste crisis by transforming non-recyclable plastics, which are often burned or pulverized into powder and used in road construction, into valuable industrial products.
CEO of Plastonix, Roland Kielbasiewicz, commented on the new partnership, saying, "India is the ideal market for our technology, and with Vee Technologies' strong engineering expertise, they are the perfect partner to help us scale and implement this solution effectively".
Chocko Valliappa, founder and CEO of Vee Technologies, added, "Plastic waste management is one of the major global issues, and we are thrilled to work with Plastonix to explore how their technology can transform waste plastic into useful products like industrial fuel and construction materials".
Plastonix continues to seek strategic partnerships in order to expand its impact and address the global problem of plastic waste.
Vee will select the pilot facility site, known as the Pilot Project. As an Engineering Company, Vee Technologies will design, construct the plant, and equip it with proprietary machinery. The pilot will be used as a test bed for optimizing the commercialization of the Plastonix technology in India to the joint venture benefit.
Building on the success of the pilot, both companies are planning to launch a comprehensive plastic recycling program across India in order to tackle the rising plastic waste problem within the region. Vee Technologies will include Plastonix's technology in all recycling plants developed and operated under the joint venture.
India faces a significant challenge with plastic waste, which has prompted the government to implement Plastic Waste Management Rules in 2016. Plastonix has developed a novel chemical recycling method that overcomes many of the challenges faced by traditional recycling processes, including recycling hard-to-process plastics.
New Plastonix technology can be used to recycle all forms of plastic, including mixed and individual types, to develop a brand-new material for use in durable goods, such as construction materials. This can help to address India's plastic-waste crisis by transforming non-recyclable plastics, which are often burned or pulverized into powder and used in road construction, into valuable industrial products.
CEO of Plastonix, Roland Kielbasiewicz, commented on the new partnership, saying, "India is the ideal market for our technology, and with Vee Technologies' strong engineering expertise, they are the perfect partner to help us scale and implement this solution effectively".
Chocko Valliappa, founder and CEO of Vee Technologies, added, "Plastic waste management is one of the major global issues, and we are thrilled to work with Plastonix to explore how their technology can transform waste plastic into useful products like industrial fuel and construction materials".
Plastonix continues to seek strategic partnerships in order to expand its impact and address the global problem of plastic waste.
