Canglobe plans PET recycling facility in Las Vegas
After purchasing a recycling technology that breaks down post-consumer polyethylene teraphthalate (PET) bottles int...
After purchasing a recycling technology that breaks down post-consumer polyethylene teraphthalate (PET) bottles into PET flake, pellets and sheeting, Canglobe International Inc. (Edmonton, AB) announced Wednesday that it is opening up a PET recycling facility near Las Vegas, NV.
Canglobe bought the rights to the technology from the technology’s two designers: Donald Sampson, president and CEO of Canglobe, and Grant Bennett, who will be joining Canglobe to lead the recycling project.
Demand for PET pellets, flake and sheeting has been growing 20% each year for the past five years, Canglobe said, and it shows no signs of slowing down. Each year, PET is used to package an increasing number of products and there is a currently a shortage of PET pellets, flake and sheeting developing in the market.
So far, Canglobe has secured a continuous supply of post-consumer PET bottles from California and other western US states to feed the new facility. Canglobe said it will take about six months to build and startup the plant, and it projects the plant will achieve return on investment (ROI) after being in production for eight to 12 months.