MIDLAND, Mich., Oct. 6, 2021 /PRNewswire/ -- Dow (NYSE: DOW)
today announced several advancements in its efforts to prevent
plastic waste, reduce greenhouse gas emissions and provide
customers with recycled plastic products that provide the same
performance as virgin plastics derived from fossil fuel-based
feedstocks.
The advancements will enable the Company to provide initial
supply of fully circular polymers to customers starting in
2022.
"The market is placing significant value on circularity and Dow
is innovating to address the tremendous unmet demand for circular
and low carbon polymers," said Diego
Donoso, president of Dow Packaging & Specialty Plastics.
"As the leading materials science company, Dow is offering our
customers what they need today and helping them develop more
sustainable products, including 100% recyclable solutions or adding
recycled or bio-based content into their products."
The advancements include:
- Dow and Fuenix Ecogy Group are expanding upon the companies'
initial agreement to scale circular plastics production through
advanced recycling with the construction of a second plant in
Weert, the Netherlands. The new
plant will process 20,000 tonnes of waste plastic into pyrolysis
oil feedstock, which will be used to produce new circular plastic
at Dow's Terneuzen site in The
Netherlands.
- Dow and Gunvor Petroleum Rotterdam finalized an agreement to
purify pyrolysis oil feedstocks derived from plastic waste. Gunvor
will supply cracker-ready feedstock to Dow beginning in 2021, which
will be used to produce circular plastics for customers. The
purification process is necessary to ensure the pyrolysis oil
feedstocks are of sufficient quality to produce new polymers.
- Dow is fast-tracking the design, engineering and construction
of a market development scale purification unit in Terneuzen,
the Netherlands, to provide
additional capacity to purify pyrolysis oil feedstock derived from
plastic waste.
- Dow has established a multi-year agreement with New Hope
Energy, based in Tyler, Texas, to
supply the Company with pyrolysis oil feedstocks derived from
plastics recycled in North
America. New Hope Energy converts used plastics into
pyrolysis oil feedstock, which Dow will use to produce circular
plastics.
- In preparation to deliver certified circular plastic products
to its customers, Dow has received or is on-track to receive
International Sustainability & Carbon Certification (ISCC) for
each of its major European and U.S. sites. Certification requires
an independent, external audit, ensuring product supply chains are
fully traceable and that Dow and its suppliers are adhering to and
accelerating sustainable practices.
The advancements complement Dow's recently announced partnership
with Mura Technology to support the rapid scaling of Mura's
new HydroPRS™ (Hydrothermal Plastic Recycling Solution) advanced
recycling process. The world's first plant using HydroPRS™ is in
development in Teesside, U.K., with the first 20,000 tonne per year
line expected to be operational in 2023, providing Dow with
additional recycled feedstocks.
All of these efforts enable plastics that are currently
unrecyclable to be recycled, including flexible plastics used in
packaging, which today are typically incinerated or sent to
landfill.
"Dow continues to collaborate on leading technologies to enable
the future we envision – the sustainable, resource-efficient
production of circular plastics – to preserve the tremendous
environmental benefits of plastics, including the critical role
plastics play in reducing carbon emissions," said Donoso.
Dow is taking important steps toward meeting its sustainability
targets to address both climate change and plastic waste. The
Company has set targets to enable 1 million metric tons of plastic
to be collected, reused or recycled through its direct actions and
partnerships by 2030, and to enable 100 percent of its products
sold into packaging applications to be reusable or recyclable by
2035.
About Dow
Dow (NYSE: DOW) combines global breadth,
asset integration and scale, focused innovation and leading
business positions to achieve profitable growth. The Company's
ambition is to become the most innovative, customer centric,
inclusive and sustainable materials science company, with a purpose
to deliver a sustainable future for the world through our materials
science expertise and collaboration with our partners. Dow's
portfolio of plastics, industrial intermediates, coatings and
silicones businesses delivers a broad range of differentiated
science-based products and solutions for its customers in
high-growth market segments, such as packaging, infrastructure,
mobility and consumer care. Dow operates 106 manufacturing sites in
31 countries and employs approximately 35,700 people. Dow delivered
sales of approximately $39 billion in
2020. References to Dow or the Company mean Dow Inc. and its
subsidiaries. For more information, please visit www.dow.com or
follow @DowNewsroom on Twitter.
For further information, please contact:
Kyle
Bandlow
+1.989.638.2417
kbandlow@dow.com
Twitter: https://twitter.com/DowNewsroom
Facebook: https://www.facebook.com/dow/
LinkedIn: http://www.linkedin.com/company/dow-chemical
Instagram:
http://instagram.com/dow_official
Cautionary Statement about Forward-Looking
Statements
This press release contains "forward-looking
statements" within the meaning of the federal securities laws,
including Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Such statements often address expected future business and
financial performance, financial condition, and other matters, and
often contain words or phrases such as "anticipate," "believe,"
"estimate," "expect," "intend," "may," "opportunity," "outlook,"
"plan," "project," "seek," "should," "strategy," "target," "will,"
"will be," "will continue," "will likely result," "would" and
similar expressions, and variations or negatives of these words or
phrases.
Forward-looking statements are based on current assumptions and
expectations of future events that are subject to risks,
uncertainties and other factors that are beyond Dow's control,
which may cause actual results to differ materially from those
projected, anticipated or implied in the forward-looking statements
and speak only as of the date the statements were made. These
factors include, but are not limited to: sales of Dow's products;
Dow's expenses, future revenues and profitability; the continuing
global and regional economic impacts of the coronavirus disease
2019 ("COVID-19") pandemic and other public health-related risks
and events on Dow's business; capital requirements and need for and
availability of financing; unexpected barriers in the development
of technology, including with respect to Dow's contemplated capital
and operating projects; Dow's ability to realize its commitment to
carbon neutrality on the contemplated timeframe; size of the
markets for Dow's products and services and ability to compete in
such markets; failure to develop and market new products and
optimally manage product life cycles; the rate and degree of market
acceptance of Dow's products; significant litigation and
environmental matters and related contingencies and unexpected
expenses; the success of competing technologies that are or may
become available; the ability to protect Dow's intellectual
property in the United States and
abroad; developments related to contemplated restructuring
activities and proposed divestitures or acquisitions such as
workforce reduction, manufacturing facility and/or asset closure
and related exit and disposal activities, and the benefits and
costs associated with each of the foregoing; fluctuations in energy
and raw material prices; management of process safety and product
stewardship; changes in relationships with Dow's significant
customers and suppliers; changes in consumer preferences and
demand; changes in laws and regulations, political conditions or
industry development; global economic and capital markets
conditions, such as inflation, market uncertainty, interest and
currency exchange rates, and equity and commodity prices; business
or supply disruptions; security threats, such as acts of sabotage,
terrorism or war; weather events and natural disasters; and
disruptions in Dow's information technology networks and
systems.
Risks related to Dow's separation from DowDuPont Inc. include,
but are not limited to: (i) Dow's inability to achieve some or all
of the benefits that it expects to receive from the separation from
DowDuPont Inc.; (ii) certain tax risks associated with the
separation; (iii) the failure of Dow's pro forma financial
information to be a reliable indicator of Dow's future results;
(iv) non-compete restrictions under the separation agreement; (v)
receipt of less favorable terms in the commercial agreements Dow
entered into with DuPont de Nemours, Inc. ("DuPont") and Corteva,
Inc. ("Corteva"), including restrictions under intellectual
property cross-license agreements, than Dow would have received
from an unaffiliated third party; and (vi) Dow's obligation to
indemnify DuPont and/or Corteva for certain liabilities.
Where, in any forward-looking statement, an expectation or
belief as to future results or events is expressed, such
expectation or belief is based on the current plans and
expectations of management and expressed in good faith and believed
to have a reasonable basis, but there can be no assurance that the
expectation or belief will result or be achieved or accomplished. A
detailed discussion of principal risks and uncertainties which may
cause actual results and events to differ materially from such
forward-looking statements is included in the section titled "Risk
Factors" contained in the Company's Annual Report on Form 10-K for
the year ended December 31, 2020.
These are not the only risks and uncertainties that Dow faces.
There may be other risks and uncertainties that Dow is unable to
identify at this time or that Dow does not currently expect to have
a material impact on its business. If any of those risks or
uncertainties develops into an actual event, it could have a
material adverse effect on Dow's business. Dow assumes no
obligation to update or revise publicly any forward-looking
statements whether because of new information, future events, or
otherwise, except as required by securities and other applicable
laws.
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SOURCE The Dow Chemical Company