Chemical Recycling Business
[Company / organization] Sojitz Corporation PET Refine Technology, Co., Ltd. JEPLAN, Inc.
Project Members’ Roles and Points of Collaboration
JEPLAN Inc. / PET Refine Technology, Co., Ltd.:
Utilization of proprietary chemical recycling technology, BRING Technology™
Sojitz: Engagement of global customer networks spanning multiple regions and industries
Overview of Technology & Business Model
Using its proprietary chemical recycling technology BRING™, JEPLAN and its subsidiary PRT are able to selectively extract the intermediate BHET (Bis(2-Hydroxyethyl) terephthalate) from PET, the material used to make PET bottles and polyester fabric. The company is then able to recover high-purity monomers in order to manufacture recycled PET resin that meets strict bottle-grade quality standards at an industrial scale. The major benefit of this technology is that impurities can be removed via a chemical process so the material quality does not deteriorate even after repeated recycling, and recycled PET resin can be produced with a quality that is equivalent to virgin PET resin derived from petrochemicals. In addition, the process allows for the complete recirculation of resource materials.
Utilizing JEPLAN’s proprietary BRING™ technology and Sojitz’s global customer network that spans multiple regions and industries, JEPLAN and Sojitz will promote the expansion of the chemical recycling business in Japan and overseas, including the establishment of a system to collect used PET products for use as raw material and the construction of new production facilities.
JEPLAN and Sojitz have agreed to jointly promote a PET (polyethylene terephthalate) chemical recycling business in Japan and overseas utilizing JEPLAN’s chemical recycling technology, and JEPLAN has issued a third-party allotment of new shares underwritten by Sojitz. Additionally, Sojitz has agreed to acquire a 25% stake in PET Refine Technology, Co., Ltd., a subsidiary of JEPLAN, and to jointly operate the company. The plant was re-started commercial operation from June 2021.