The license Repeat’s chemical recycling technology for polyethylene terephthalate (PET) polyester has been obtained by China-based Zhejiang Jianxin Jiaren New Materials. It is the first global company to acquire a license for in this field.
Founded only last month, Repeat is a joint venture that was founded last month by the Japanese businesses Teijin, JGC, and Itochu. Each enterprise is an expert in its field and they decided to pool their relevant expertise. JGC is experienced in plant construction, Teijin’s teams are well-versed in dimethyl terephthalate (DMT) based chemical recycling, whereas Itochu is known for its diverse supply network.
The parent company is chemical fibre recycler Jiaren New Materials which Teijin helped launch in 2012 alongside Jinggong Holding Group. The Zhejiang Jianxin group was established only last year.
The new licensee aims to build the technology into plans for setting up a new PET recycling facility, which will be opening in Shaoxing next year.
