Abundia Global Impact Group Enters Into Licensing Agreement With Alterra Energy

Abundia Global Impact Group (Abundia), a technology company focused on circular solutions and sustainability, today announced it has entered into a licensing agreement with Alterra Energy (Alterra), a leader in the advanced recycling of plastics into petrochemical products.

Alterra's thermochemical liquefaction process will be combined with Abundia's disruptive upgrading technology to recycle plastic waste into usable chemical products, providing a circular solution to the plastic waste that is treated. Abundia plans to commence development of its first site in Mainland UK, which initially will have the capability of processing up to forty thousand tons of plastic waste per annum into various recycled chemicals during the second half of 2022 and, through expansion, is targeted to increase processing to one hundred and twenty thousand tons annually by 2027.

"Having spent many years researching, co-developing, and reviewing scores of technologies that attempt to solve the global plastics recycling crisis, I'm convinced that the combination of Alterra's liquefaction platform and Abundia's downstream upgrading technologies will provide a robust and circular solution to the waste plastics problem cluttering our world today," stated Dr. Martin Atkins, Chief Scientific Officer of Abundia Global Impact Group. "Our combined, efficient, high-volume continuous process creates an economical and sustainable solution for plastic and municipal wastes that are sought by global stakeholders including governments, industry, environmental groups, and consumers."

"Abundia shares our commitment to solving plastic pollution and to supporting the circular economy. Our innovative advanced recycling approach, combined with Abundia's upgrading technology process, is another step in this direction," stated Frederic Schmuck, CEO of Alterra.

The terms of the agreement were not announced publicly.