Circular Economy Consortium to Explore Plastic Recycling in Indonesia
Exxonmobil, Indomobil Prima Energi and Plastic Energy have entered into a MOU to explore the potential for large-scale implementation of advanced plastic recycling technology in Indonesia. The move is expected to accelerate a circular economy for plastics in the country.
Bali/Indonesia – Exxonmobil, Indomobil Prima Energi (IPE) and Plastic Energy have signed a memorandum of understanding at the sidelines of the G20 Bali Summit to assess the potential for large-scale implementation of advanced plastic recycling technology in Indonesia, helping to accelerate a circular economy for plastics in the region.
The advanced recycling capacity being assessed as a part of the collaboration is expected to be 100,000 metric tons per year, with the first phase starting up in 2025. The companies will also evaluate opportunities to support improvements to plastic waste collection and sorting in the country.
Represented at the signing were Irtiza Sayyed, president of Exxonmobil Indonesia and president of Low Carbon Solutions for Exxonmobil Asia Pacific; Gerry Kertowidjojo, president director of IPE; and Carlos Monreal, founder and CEO of Plastic Energy.
The signing was witnessed by U.S. Ambassador for Republic Indonesia, H.E. Sung Y. Kim; Indonesia’s Coordinating Minister for Maritime and Investment Affairs H.E. Luhut B. Pandjaitan; Jack Williams, senior vice president, Exxonmobil Corporation; and Dave Andrew, vice president of new market development at Exxonmobil.
“Plastics help to raise living standards around the world, including in Indonesia, given their critical use in agriculture, food packaging, medical equipment and more,” said Dave Andrew of Exxonmobil.
“Leveraging new technologies and the expertise of our combined organizations, we can accelerate a circular economy for plastics in the region, so that more plastics can be turned into new products instead of ending up in the environment.”
“Indonesia and the Asia Pacific region is an area of the world that is greatly impacted by plastic waste,” said Carlos Monreal, founder and CEO of Plastic Energy. “With this MOU with Exxonmobil and Indomobil Prima Energi, we aim to utilize our unique and patented advanced recycling technology to provide a solution for recycling plastic waste in Indonesia, helping to curb plastic waste and promote a more circular economy for plastics.”