● Recyclable technology patent licensing MOU with Eastman for the world's first PET bottle packaging material that can be recycled together with PET bottles
● Cooperation between the two companies to create an eco-friendly plastic ecosystem ∙∙∙ SKC expands efforts to achieve the goal of zero plastics net
SKC (CEO Lee Wan-jae) signed a memorandum of understanding (MOU) to negotiate a contract regarding the use of PET label recycling technology patents with specialty materials provider Eastman of the US, and will expand the SKC ecolabel market. Eastman is a global specialty materials company that produces a broad range of products found in items people use every day, including copolyester resins for durable water bottles, medical devices, eyewear, electronics, home appliances, cosmetic containers and PET bottle heat shrink film.
On the 13th, SKC signed an MOU with Eastman for licensing PET label recycling technology patents for North America and Europe for the next 20 years and for creating an eco-friendly plastic ecosystem. If this contract is signed in the future, it will greatly accelerate the adoption by the heat-shrinkable film market of PETC (Crystallizable PET) resins, including SKC’s Ecolabel and Eastman’s Embrace Encore™. .
SKC Ecolabel is the world’s first ‘recyclable PET bottle packaging material’ developed by SKC. Ink that washes in the recycling process is applied to the same material as PET bottles, and it can be recycled together with PET bottles. Unlike other material labels that had to be discarded, there is no environmental pollution problem due to disposal, and it is eco-friendly as recycling increases.
SKC Ecolabel was officially certified by the American Association of Plastic Recyclers (APR) in July 2016, in recognition of its transformation of ideas and excellent recyclability. In 2019, products applied with SKC Ecolabel won the 'APR Showcase Award' at the APR member's general meeting and were named 'Innovator of the Year'. Usage is also on the rise.
Eastman and SKC have separately begun to develop the PETC market because they both value the ease of recycling and the two companies intend to promote collaboration to improve recyclability. SKC and Eastman decided to strengthen the eco-friendly plastic ecosystem by finding areas where the two companies could cooperate.
An SKC official said, “Currently, many global customers are paying attention to the recyclability and innovativeness of SKC ecolabel and its application is increasing. We will achieve it,” he said.