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Yes, molecular recycling is a type of chemical recycling. We use the term molecular recycling because it helps illustrate the technology. In our existing and planned molecular recycling facilities, the principle is to break down plastic waste, which previously went to landfills, incinerators or the environment, into its basic building blocks (monomers). These monomers are used to make new plastics that perform like virgin plastic, giving them a potentially infinite life cycle.

Material-to-material recycling refers to technologies that use waste as feedstock to make new materials. These new materials are referred to as secondary or recycled feedstock and can be used to make new products. Material-to-material recycling is different from other technologies that convert waste into energy or fuel, for example.

Molecular recycling is an important part of Eastman’s path to decarbonization. Our molecular recycling technologies, developed in the 1970s for specific applications, are proven and reliable. Products made from these technologies have been adopted by industrial companies in sectors including cosmetics, packaging and medical. Studies show that our molecular recycling technologies emit 20%–50% fewer greenhouse gases than conventional production processes that use virgin fossil resources. These results have been independently confirmed. Studies are taking place on how our France facility could further reduce greenhouse gas emissions.

We have made progress in planning the facility, and construction would be implemented in two phases. The facility will reach full capacity at the end of the second phase, which would allow the annual recycling of more than 200,000 metric tonnes of hard-to-recycle polyester waste. Phase I will allow for the processing of more than 110,000 metric tonnes of polyester-rich waste.

Climate change and plastic waste are global issues. Although our headquarters is in the United States, we are a global company committed to making a global impact. We have around 2,300 employees in Europe, and almost 30% of our business revenue comes from this region. Creating a facility to meet this regional demand will reduce our carbon footprint by minimizing our shipping distance to European customers. Proximity is one of the pillars of a true circular economy.

We share the same vision as leaders in France and are pioneers in the fight against plastic waste. France already has a mature ecosystem in terms of waste collection, sorting and treatment while looking to improve recycling capacity. French environmental leaders are aware that mechanical recycling alone will not be enough because it does not account for all types of plastic. France has a clear policy that encourages innovative technologies, such as molecular recycling, to complement existing technologies. This policy helps the nation move toward a circular economy and a decarbonized economy thanks to a competitive energy mix.

France, particularly Normandy, has a rich industrial history that’s created a workforce with the necessary skills to make the project work. Eastman has placed sustainability at the heart of our business strategy, and we are committed to contributing to this circular economy.

We have secured 70% of the raw material needed for phase I of the project.

There is an urgent need for recycled plastic in a wider spectrum of markets. Many brands have made bold commitments to improve product and packaging sustainability.

Eastman has signed letters of intent with brands, including LVMH Beauty, Estée Lauder Companies, Clarins, Procter & Gamble, L'Oréal and Danone. They have signed multiyear contracts to purchase certified recycled content from our facility. These customers are committed to their circular approach in terms of manufacturing and compliance. We are committed to supporting these customers in their transition process.

We believe a system change is needed to enable true plastics circularity. We strongly believe in collaboration among all actors in the value chain to achieve the environmental objectives initiated by the Paris Agreement and the European Green Deal.