LONDON (OTS) – Clean Planet Energy today announced a new joint venture with private equity firm Crossroads Real Estate to develop Clean Planet Energy’s new flagship eco-plant, currently under construction in Teesside, North East England. This is the first of ten new eco-plants that Crossroads Real Estate and Clean Planet Energy are developing and operating across the UK.
A new joint venture to tackle the plastic waste crisis could result in over £400m of new UK investment, which is planned to be used to build these facilities in the future. Ten different sites in Lincolnshire, Gloucestershire, Lancashire and South Wales have been identified as suitable for building the first ten plants. Additional locations are being explored and announcements will follow in the coming months.
A Clean Planet ecoPlant is an environmentally friendly, state-of-the-art recycling facility for non-recyclable and hard-to-recycle plastic waste that would otherwise end up in landfills. Each “eco-plant” facility is designed to accept 20,000 tons of plastic waste per year and convert this waste into (a) very low-sulfur fuels that can replace fossil fuels in the transportation and heavy machinery sectors and (b) recyclable petrochemical feedstocks, including naphtha, which are refiners for fossil fuels. It can be used to make new plastic products unnecessarily. Compared to conventional diesel, Clean Planet’s Ultra Low Sulfur Diesel can reduce greenhouse gas emissions by up to 75%. The joint effort will result in more than 200,000 tonnes of hard-to-recycle plastic waste being re-introduced into the raw material cycle each year.
The news comes ahead of the 2022 UN Climate Change Conference in Sharm El Sheikh (COP27), where world leaders are looking for solutions to reduce global greenhouse gas emissions and plastic pollution. Data from 2021 shows that the UK still generates 2 million tonnes of plastic waste per year, of which more than 60% cannot be recycled. In November 2022, the UK Government’s Committee on Environment, Food and Rural Affairs (EFRA) published a report on reducing the amount of plastic waste even faster. It identified advanced recycling technologies as one of the key policy recommendations. By building new eco-plants across the UK, Clean Planet Energy and Crossroads Real Estate are pioneering a way to turn traditionally unrecyclable plastic waste into sustainable and circular products. It aims to reduce plastic pollution in the environment, reduce the amount of waste going to UK landfills and reduce the level of greenhouse gas emissions by using low-carbon alternatives to traditional fuels.
David Gillerman, Founding Partner and CEO of Crossroads Real Estate (https://www.crossroadsre.eu/) said: “At Crossroads, we are committed to green opportunities and we have already proven our impact investment hotel strategy through our sustainable. We look forward to working with Clean Planet Energy in rolling out eco-plants across the UK, including our flagship eco-plants already under construction in Teesside, as we address the challenges we face with impact and excess carbon emissions. This investment makes the partnership with Clean Planet Energy a very compelling opportunity. and can have a social impact.”
Commenting on the joint venture expanding his company’s vision, Bertie Stephens, CEO of Clean Planet Energy Group of Companies (http://cleanplanetenergy.com/), said: “We at Clean Planet Energy are building it.” Our mission is to save our environment from over one million tons of non-recyclable plastic waste every year. This exciting partnership offers an opportunity to take a good step closer to this goal. With “Crossroads Real Estate”, not only supporting us in growth. In ten potential new British “eco-plant” projects, but also in the construction of the current “eco-plant” on Teesside, we have found a partner who is focused on their investments as having a lasting impact. A greener UK – realize the vision of a cleaner world beyond Local authorities and private partners across the UK can benefit from reducing plastic waste in their landfills.”
Earlier this year, Clean Planet Energy announced a 10-year deal with global energy giant bp plc to commercialize circular products from its eco-plants. Any new eco-plant facility could process rigid recycled plastics in the UK. At peak, the plants are expected to create more than 750 direct onsite jobs, and thousands of indirect jobs as the ecosystem transitions from plant development to construction and operations.
About “Crossroads Real Estate” (https://www.crossroadsre.eu/)
“Crossroads European Real Estate Funds” invest in various real estate asset classes across Europe, including hotels, residential buildings, light industrial, retail and co-working spaces.
Since its establishment in 2015, “Crossroads” has generated a total of more than 1.3 billion euros in European real estate values on behalf of its various investors.
Crossroads has extensive experience in developing multi-jurisdictional platforms, spanning various asset classes and capital structures, and unlocking value from complex situations and providing both downside protection and visible returns.
Crossroads’ main target markets are Germany, the United Kingdom, the Netherlands, Belgium, Italy and Spain, with Central and Southern Europe and the Nordic countries also being potential target markets.
About “Clean Planet Energy” (https://www.cleanplanetenergy.com/)
“Clean Planet Energy” (CPE) is an organization that stands for clean technologies and renewable and alternative energies. Its purpose is to convert difficult recycled plastic waste into naphtha, a petrochemical feedstock used to support a closed-loop feedstock cycle in plastic production, as well as to convert it into ultra-low-sulfur diesel.
CPE is committed to saving our environment by removing one million tonnes of hard-to-recycle plastic waste every year. This should be achieved through continued development and implementation of environmentally friendly technologies and processes (such as “eco-plants” from “Clean Planet”). This should prevent plastic waste from entering the environment and the sea. At the same time, global demand for non-recyclable materials must be reduced.
Clean Planet’s “eco-plants” aim to keep hard-to-recycle plastic waste out of the world’s landfills, incinerators and oceans — a huge win for the environment. Clean Planet Energy has offices in the UK, USA, France and Southeast Asia.
Clean Planet Energy 020 3289 0055 [email protected] http://www.cleanplanet.co.uk/ Dr Katerina Garifalou
Original content from: Clean Planet Energy, posted by NewsActual
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