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 will be the first of ten new eco-plants that Crossroads Real Estate and Clean Planet Energy will jointly build and operate across the UK.
The joint venture that has just been formed to tackle the plastic waste crisis could generate more than £400m in new investment in the UK, 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 potentially suitable for the construction of the first ten plants. Additional locations are being explored and related announcements will follow in the coming months.
A Clean Planet eco-plant is an environmentally friendly, state-of-the-art recycling facility for processing non-recyclable and difficult-to-recycle plastic waste that would otherwise end up in landfill. Each “ecoPlant” facility is designed to accept up to 20,000 tonnes of plastic waste per year and convert this waste into (a) ultra-low sulfur fuels that can replace fossil fuels in the transport and heavy machinery sectors and (b) recyclable petrochemical raw materials. , including naphtha, which can be used to make new plastic products without requiring refineries to turn to fossil fuels. Clean Planet’s ultra-low sulfur diesel can reduce greenhouse gas emissions by up to 75% compared to conventional diesel. The joint venture could result in more than 200,000 tons of difficult-to-recycle plastic waste being returned to the raw material cycle each year.
This news comes at the time of the 2022 UN Climate Change Conference in Sharm El Sheikh (COP27), where world leaders are seeking solutions to reduce global greenhouse gas emissions and plastic pollution. Data for 2021 shows that the UK still generates over 2 million tonnes of plastic waste a year, of which over 60% cannot be recycled. In November 2022, the UK Government’s Environment, Food and Rural Affairs (EFRA) Committee published a report on how to reduce the amount of plastic waste even more and faster. He identified advanced recycling technologies as one of the main policy recommendations. By developing new eco-plants across the UK, Clean Planet Energy and Crossroads Real Estate are pioneering a way to turn traditionally non-recyclable plastic waste into sustainable, circular products. They aim to reduce plastic pollution in the environment, reduce the amount of waste going to UK landfills and also reduce the amount of greenhouse gas emissions by using them as a low carbon substitute for 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 what we call impact investing we have already demonstrated through of our sustainability hotels strategy.We look forward to working with Clean Planet Energy on launching ecoPlants across the UK, including our flagship ecoPlants already under construction in Teesside on the negative impact of plastic waste on our environment and solving the challenges “We face from excessive carbon emissions. It made the joint venture with Clean Planet Energy a very compelling opportunity. With this investment, we can make a significant environmental and social impact across the UK.”
Commenting on the expansion of his company’s vision made possible by this joint venture, Bertie Stephens, CEO of the Clean Planet Energy group of companies (http://cleanplanetenergy.com/), said: “We at Clean Planet Energy” we have done it. our mission to save our environment over one million tons of non-recyclable plastic waste each year. This exciting partnership gives us the opportunity to take one step closer to this goal. With “Crossroads Real Estate”, you not only support us in the development of up to ten new potential UK “ecoPlant” projects, but also in the construction of the current “ecoPlant” on Teesside, we have found a partner who is so focused on this with your investments like us to make a lasting impact and realize the vision of a greener UK, and beyond that, a cleaner world. Local authorities and private partners across the UK who could benefit from reducing plastic waste in their landfills.”
Earlier this year, Clean Planet Energy announced a 10-year agreement with global energy company bp plc to commercialize circular products from its ecoPlants. Any new ecoPlant facility will be able to process plastics that are difficult to recycle in the UK. At their peak, the plants are expected to create more than 750 direct jobs at the site and potentially thousands more indirect jobs as ecoPlants transitions from development to construction and operations.
About “Crossroads Real Estate” (https://www.crossroadsre.eu/)
The “Crossroads European Real Estate Funds” have invested in various real estate asset classes across Europe, including hotels, residential buildings, light industrial, retail and co-working spaces.
Since its founding in 2015, “Crossroads” has amassed a total of more than €1.3 billion in European property securities on behalf of its various investors.
Crossroads has extensive experience building multi-jurisdictional platforms, spanning various asset classes and capital structures, unlocking value from complex situations that provide loss protection and visible returns.
Crossroads’ main target markets are Germany, the UK, the Netherlands, Belgium, Italy and Spain, with Central and Southern Europe and the Nordic countries also potential target markets.
About “Clean Planet Energy” (https://www.cleanplanetenergy.com/)
“Clean Planet Energy” (CPE) is a company that defends clean technologies and renewable and alternative energies. Its mission is to convert difficult-to-recycle plastic waste into naphtha, a petrochemical feedstock that can be used in the production of plastics to support a closed-loop feedstock cycle, as well as ultra-low sulfur diesel.
CPE is committed to saving our environment over one million tons of difficult-to-recycle plastic waste each year. This will be achieved through the continuous development and implementation of environmentally friendly technologies and processes (such as the “eco-plants” of “Clean Planet”). This is to prevent plastic waste from entering the environment and the oceans. At the same time, the global demand for non-recyclable products 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, US, France and South East Asia.
Clean Planet Energy 020 3289 0055 [email protected] http://www.cleanplanet.co.uk/ Dr katerina garifalou
Original content from: Clean Planet Energy, broadcast by news aktuell
Writing of the press portal: up-to-date news GmbH
“Extreme gamer. Food geek. Internet buff. Alcohol expert. Passionate music specialist. Beeraholic. Incurable coffee fan.”