February 29, 2024
(press release)
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Avient Collaborates with Plastic Bank Recycling Corporation to Formulate Recycled Ocean Plastic into a New Density Modified Polymer for Luxury Caps and Closures. To download a high-resolution image, please click here: FOR MEDIA USE ONLY POMMERLOCH, Luxembourg – February 28, 2024 – Avient Corporation, a premier provider of specialized and sustainable materials solutions and services, is pleased to announce it is extending its Gravi-Tech™ REC Recycled Formulations portfolio with a grade containing up to 60% ocean-bound plastic waste in addition to recycled fillers, making the total recycled content as high as 98%. The new grade offers greater design flexibility and more efficient processing compared to metals traditionally used in luxury packaging caps and closures. Launched in early 2023, Avient’s Gravi-Tech REC recycled formulations are density-modified engineered polymer materials, including recycled content. They offer a more sustainable alternative than density-modified grades based on prime or virgin polymers. They can provide the luxury caps and closures market with an alternative to metal, which is typically associated with higher processing and molding costs. The new grade, Gravi-Tech REC GT5200-5089 C I natural, is based on up to 60% Social Plastic® polymer resin material from Plastic Bank, a social enterprise that collects and recycles ocean-bound plastic waste. This high recycled content supports a Product Carbon Footprint (PCF) reduction of >70% compared to technically comparable virgin material¹. This helps balance impact resistance and density with environmental responsibility and allows for greater design flexibility and efficient processing through standard injection molding methods. “The new Gravi-Tech grade not only advances material science but also contributes to social good,” said Matt Mitchell, Director of Global Marketing, Specialty Engineered Materials at Avient. Social Plastic®, sourced from Plastic Bank, aids in alleviating poverty in vulnerable communities by transforming collected plastic waste into a valuable resource. Combined with Avient’s formulation know-how on the density-modified technology and our ongoing qualification efforts of sustainable raw material alternatives, we achieved a total recycling content as high as 98%. This integration underscores Avient's commitment to both environmental sustainability and positive social impact." Gravi-Tech REC formulations enable visual surface effects and aesthetics, including electroplated metallic finish, cool touch, and color variation. They can be used for applications in luxury packaging and consumer goods such as cosmetic caps and closures, perfume caps, spirit bottle caps, and luxury boxes. The higher density avoids 2-step processes for metal inserts in high-value packaging. The new Gravi-Tech REC GT5200-5089 C grade is manufactured in Europe and is commercially available. Additional food contact-compliant formulations are also available as part of the broader Gravi-Tech REC portfolio. ¹PCF values are calculated with Avient’s TÜV certified PCF-Calculator according to ISO 14067. About Avient Avient Corporation provides specialized and sustainable materials solutions that transform customer challenges into opportunities, bringing new products to life for a better world. Examples include: Avient is certified ACC Responsible Care®, a founding member of the Alliance to End Plastic Waste and certified Great Place to Work®. For more information, visit www.avient.com. To access Avient's news library online, please visit www.avient.com/news. About Plastic Bank Plastic Bank is revealing value in plastic waste to help end poverty. They are a social enterprise based in Vancouver, Canada, empowering a Social Recycling movement. Their collection communities collect and exchange ocean-bound plastic waste as currency for income and life-improving benefits, including health, work and life insurance, digital connectivity, grocery vouchers, school supplies, fintech services, and more. Exchanges are recorded through the Plastic Bank app, backed by their proprietary blockchain-secured platform that enables traceable collection, secures income and verifies reporting. The collected material is processed into Social Plastic feedstock for reuse in products and packaging by some of the world's most progressive companies. Plastic Bank currently stops ocean-bound plastic in the Philippines, Indonesia, Thailand, Brazil, Egypt, and Cameroon. PlasticBank® and Social Plastic® are trademarks of The Plastic Bank Recycling Corporation. Learn more at plasticbank.com. # # # Media ContactFebruary 28, 2024
Nicole DeChant
Avient Corporation
nicole.dechant@avient.com
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