November 4, 2022
(press release)
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Mura Technology, the global pioneer of an advanced plastic recycling solution, today announced an additional strategic investment from Dow, the world’s leading materials science company, to further enable advanced recycling throughout the U.S. and Europe. The investment builds a collaboration that has seen the two companies commit to help eliminate global plastic pollution through the construction of multiple world-scale advanced recycling facilities in the U.S. and Europe, adding as much as 600 kilotons of aggregate advanced recycling capacity by 2030. Last month, Dow and Mura announced plans to construct one of these facilities at Dow’s Böhlen site in Germany. Dow’s investment in Mura Technology will enable the U.K.-based company to develop multiple HydroPRS™ plants in Europe and the U.S. “Dow’s decision to make an investment in Mura Technology is the latest vote of confidence in our business strategy and our innovative, highly scalable technology, HydroPRS™. We are excited to move forward with the creation of a series of financeable HydroPRS™ plants in Europe and the U.S. that will accelerate a circular plastics economy,” said Steve Mahon, chief executive officer at Mura Technology. Diego Donoso, president of Dow’s Packaging and Specialty Plastics said, “Mura brings an important element to Dow’s low-carbon circular plastics business model. The collaboration not only accelerates the strategic transformation of our feedstock slate and enables us to secure circular feedstocks; it also helps us meet strong and growing customer demand for circular polymers. Importantly, this capacity will help Dow scale these technologies globally as we continue to drive our long-term strategy to decrease use of virgin fossil-based feedstocks.” As an investor in Mura Technology, Dow joins companies such as KBR, LG Chem, Six Pines Investment LLC (a subsidiary of Chevron Phillips Chemical Corporation), and igusGmbH as equity investors and commercial partners of Mura Technology. The HydroPRS™ process is a highly scalable form of advanced recycling which uses supercritical water to convert waste plastics, including difficult to recycle flexible and multi-layered materials, into high yields of stable hydrocarbon products for use in the manufacture of new plastics and other materials, recovering plastics which cannot be recycled by mechanical means for use in circular economies.
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