Sumitomo Chemical Starts Study for Business Alliance with Rever Holdings Corporation: Advancing material recycling through collaboration with integrated recycling company
Jun. 9, 2021
Sumitomo Chemical Company, Limited announced today that it has agreed to start studying a possible business alliance with Rever Holdings Corporation, a major Japanese integrated recycling company engaged in the management of scrap metal and other recyclable waste from used cars and home appliances, to accelerate material recycling efforts towards achieving a sustainable circular economy. The companies plan to conclude the study within one year.
Sumitomo Chemical identifies contribution to reducing environmental impact as one of its material issues. To meet this challenge, the Company is stepping up efforts to advance material recycling and develop materials for “mono-material” films, while also working on the development of chemical recycling technology in collaboration with other companies and academic institutions. In order to deploy these new technologies and products widely in society, however, effort needs to be directed not only to accelerating technological development but to building a circular economy. Industries that produce and sell products made from natural resources and industries that collect, process, and recycle used products should work closely together in building an integrated recycling system that covers the entire chain—from collection to sorting, crushing and processing to sale of materials and products made from recycled waste.
In this joint study, Sumitomo Chemical and Rever will consider entering into a possible business alliance in material recycling that turns collected plastic waste into products by combining Sumitomo Chemical’s plastic manufacturing technology accumulated for many years and Rever’s waste processing and recycling expertise. The major objectives of the alliance include development of advanced sorting technology applicable to plastic parts collected mainly from used automobiles, production of recycled plastics having wide-ranging applications, and environmental impact assessment for these activities. In addition, Sumitomo Chemical will consider applying the sorting technology to one of the chemical recycling technologies Sumitomo Chemical is seeking to commercialize and that uses plastic waste as raw material.
Sumitomo Chemical is committed to contributing to society through its business activities, as set out in its Business Philosophy. The Sumitomo Chemical Group will continue to work as one to create both economic value and social value in an integrated manner, achieving sustained growth for the Group and contributing to building a sustainable society.
Concept diagram of a circular economy
* “Arteries” and “Veins”:
A circular economy requires an integrated loop system that covers the entire chain from production to consumption to collection and recycling, just as the human body has the circulatory system in which arteries carry oxygen-rich blood from the heart while veins carry oxygen-depleted blood back to the heart.
Overview of Rever Holdings
|Company name||REVER HOLDINGS CORPORATION|
|Location||Tokyo Sankei Bldg., 15 Fl., 1-7-2, Otemachi, Chiyoda-ku, Tokyo|
|Business activities||Resource recycling|
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