Flexible packaging collection business REDcycle has become a partnering arm of advanced recycling pioneer iQ Renew, in a merger set to expand recovery of flexible packaging materials and create new markets for soft plastics.
The merger will combine REDcycle’s network of partners and national drop off locations, with iQ Renew’s innovative material processing technology and accelerate the development of purpose-built facility called SPEC – soft plastic engineered commodity. The facility will be dedicated to creating streams of quality feedstock available for use in technologies such as mechanical and the fast-emerging advanced recycling.
REDcycle will be the primary supplier to the plant, with an opportunity to increase the scope and scale of the program in the coming months, including recovery of material from a broader range of sectors.
“The key to achieving the recycling goals we have as a country is collaboration and we believe that this partnership will enable us to create a stream of higher quality materials that will eventually be able to be used in packaging-to-packaging recycling,” said Danny Gallagher, CEO, iQ Renew, confirming that REDcycle will remain its own brand and that consumers won’t see any differences as they will continue to drop off their flexible packaging in stores.
“Being part of the broader iQ Renew business will provide more resources for REDcycle and more opportunities to expand the scope and scale of the program,” he added.
“As consumer involvement in the REDcycle Program continues to grow rapidly, with around three million pieces of soft plastics now being returned to REDcycle bins each day, more domestic offtake partners and new end markets are vital to ensure recovered soft plastics are recycled into new products and emerging opportunities such as recycled content packaging can be realised,” said Liz Kasell, CEO, REDcycle.
“Our two organisations will work with industry retail, government, and offtake partners to develop a smooth running, circular system for post-consumer soft plastics; robustly linked the community’s desire to divert recyclable materials from landfill with the technology and infrastructure needed to deliver measurable outcomes.”
In partnering, these two Australian organisations are fulfilling a shared vision dedicated to creating a world where packaging waste is considered a resource, and playing a transformative role in the resource recovery sector.
