Plastonix partners with Vee Technologies for plastic recycling solution

INDIA – Plastonix, a Canada-based plastics recycling technology firm, has announced a joint venture with IT services provider Vee Technologies, headquartered in Bengaluru and New York, to combat India’s escalating plastic waste crisis.

The 50:50 partnership aims to develop an innovative plastic waste recycling system using Plastonix’s patent-pending technology.

Vee Technologies will spearhead the initiative by selecting a site for the first pilot facility. The company’s engineering team will design and construct the plant, equipping it with proprietary machinery to process plastic waste.

This pilot facility will evaluate the technology’s scalability and commercial viability in the Indian market, ultimately benefiting the joint venture’s long-term operations.

According to the Central Pollution Control Board (CPCB), India generated nearly 9.46 million tonnes of plastic waste in 2023, with 40% of it comprising single-use plastics.

Alarmingly, only 8% of this waste is currently recycled, underscoring the urgent need for effective recycling solutions.

“With their substantial engineering expertise, Vee Technologies is an excellent partner for Plastonix. We are eager to work closely with their team in the years ahead,” said Roland Kielbasiewicz, CEO of Plastonix.

Once the pilot project achieves its objectives, the partners will roll out a large-scale plastic recycling program to tackle India’s waste management challenges.

This initiative aligns with the country’s Plastic Waste Management Rules 2016, which aim to standardize and improve the handling of plastic waste nationwide.

Chocko Valliappa, Founder and CEO of Vee Technologies, highlighted the significance of addressing plastic waste, stating, “The versatility and ubiquitous use of plastics in the modern world have made plastic waste disposal one of the most pressing challenges.

“We are thrilled to collaborate with Plastonix to reformulate waste plastic into industrial fuel and construction materials.”

This collaboration represents a promising step toward reducing India’s plastic waste through technological innovation and sustainable practices, potentially transforming waste into valuable resources.

In June this year, Deluxe Recycling unveiled a multi-layered plastic recycling facility in Gujarat with major backing from Circulate Capital.

With this new facility, Deluxe is set to more than double its recycling capacity – from 13,000 TPA to 27,400 TPA across 2 locations – cementing its position as one of South Asia’s largest MLP recyclers.

By FY2030, the company aims to recycle more than 200,000 tons of UBCs and MLPs. The investment to build the Sarigam plant by Deluxe Recycling is around INR 50CR+ and the area of the facility is about 1.5 lakh sq. ft.

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