IHC launches B2B trading platform for recycled plastics

UAE – Abu Dhabi-based International Holding Company (IHC) has established Rebound to facilitate the global trade of recycled plastic and minimize the world’s plastic pollution.

The Rebound Plastic Exchange (RPX) platform will help buyers and sellers worldwide to trade recycled plastic with transparency.

The platform will run specification sheets personalized for each listing available on the RPX B2B marketplace.

The sheets were developed by a group of industry experts and endorsed by the plastic recycling organization RECOUP.

Rebound CEO Maryam Al Mansoori said: “RPX was envisioned to bring trust and quality assurance amongst buyers and sellers.

“Our digital platform provides companies and nations with a vital benchmark for their capacity to adapt and trade quality-assured plastics, equip them with frameworks to facilitate exchange, and highlight the tangible benefits of transparent plastic trading.

“Overall, the platform inherently complements governments’ commitments to the Basel Convention’s amendments on the trade of plastic and enhances the responsible participation in the recyclable plastic trade.”

The launch come at a time when the global rate of plastic recycling sits at just 15% of plastic waste can be recycled. Rebound Plastic Exchange is scheduled to open for trading in mid-2022

Rebound Plastic Exchange will fill a significant gap in the market, facilitating a truly circular economy as it creates a quality-assured platform to purchase and provide feedstock of recycled plastic to meet the growing demand from consumer goods companies.

There is expected to be a 6-million-ton deficit of recycled content based on the many commitments of global brands, many of whom are aiming for 20-30% increases by 2025.

Rebound Plastic Exchange creates new economic opportunities and a point of market entry for the estimated 80% of countries without domestic capacities to process or consume plastic feedstock, or both.

Its passporting system will also support governments’ commitments to the Basel Convention’s Amendments while responsibly participating in the trade of plastic.

By 2025, it is estimated that roughly 5 million tons of recycled plastic will have been traded via Rebound.

Several major companies from various regions, including the Middle East, North America, Latin America, India, South-East Asia and Europe, have reportedly subscribed to the platform.

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