Jakarta – PT Inocycle Technology Group (INOV) plans to produce food-grade plastic from recycled plastic bottle waste for domestic and overseas markets, its director Kwang Shin Kim said.
The clean-technology company, which is listed on the Indonesia Stock Exchange, is in talks with a foreign strategic partner to that end, Kim said without elaborating. He stated that the plan is part of the company’s commitment to helping solve the plastic waste problem in Indonesia by transforming plastic waste into high-quality products.
The company, which claims to have the largest PET (polyethylene terephthalate) plastic waste processing capacity in Indonesia, annually processes three billion plastic bottle waste into various products such as Recycled Polyester Staple Fiber (Re-PSF) or synthetic fibre from recycled PET bottle waste, non-woven, as well as various homeware products.
INOV continues to develop an integrated and sustainable plastic waste value chain system by actively expanding to build washing facilities to collect plastic waste in various cities in Indonesia. The company recently started the operations of new plants and washing facilities have Medan and Subang, increasing its capacity to absorb plastic waste. The new facilities are in addition to the ones in Solo, Mojokerto, Makassar, and Subang. While re-PSF plants are spread across four locations, namely Tangerang, Solo, Mojokerto, and Medan.
INOV will also start a carbon trading business as the company is also actively involved in the reduction of CO2 and other greenhouse gas emissions. The company has met the requirements for obtaining carbon credits, which are tradable certificates. INOV managed to reduce carbon by 27% per employee as of November 2022 from a year earlier, according to a result of an audit by an independent party, namely Planet Mark in 2022. (I Made Sentana)
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