Freepoint Eco-Systems, a Texas-based company that uses advanced recycling technology to secure and recycle plastic, has partnered with Biotrend, a waste-to-energy firm, to expand its footprint within the advanced recycling industry and the circular economy for plastics.
The partners expect to undertake advanced recycling projects and transform waste plastic into pyrolysis oil. They also seek to establish a strategic investment company to fund future projects and substantially expand recycling capabilities, targeting to recycle 250,000 tons of waste plastic annually in locations like Turkey, the Balkans, and Central Asia. Freepoint Eco-Systems has also announced its plans to acquire a 10% stake in Biotrend.
Analyst QuickTake: In May 2024 , Freepoin Eco-Systems also partnered with Dow, a leader in material sciences, to turn plastic waste into synthetic oil and manufacture new high-quality plastics in Dow's US Gulf Coast operations. Its latest partnership with Biotrend sees the company also expanding internatioally.
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