EQP announces launch of innovative Viridis 25
Project complies with European regulations
KUWAIT CITY, Oct 10, (KUNA): Equipolymers (EQP), a subsidiary of EQUATE Group for petrochemicals, has announced the launch of the innovative ‘Viridis 25’, which will provide a new category of polyethylene terephthalate (PET) used in the production of beverage bottles through (thermoforming).
In a statement to Kuwait News Agency (KUNA), Dr Ramesh Ramachandran, President and CEO of EQUATE, said: “The Viridis 25 technology is based on the fact that it contains 25 percent of recycled PET as feedstock, the highest percentage achieved so far.”
He pointed out that this product is expected to have many benefits and a clear and positive impact on the environment and thus will be reflected on the community as a whole as it will result in higher rates of plastic recycling through the increasing demand for recycled PET flakes.
He pointed out that Viridis 25 will contribute to promoting the application of the plastics strategy guidelines in accordance with European standards, which will bring economic and industrial perspectives closer together, decreasing the need for the use of virgin PET and reducing carbon dioxide emissions by 54 percent.
Regarding the details for developing the project, Ramachandran said that EQP had launched in 2009 a project called Viridis; a product of PET containing up to 10 percent recycled PET.
He pointed out that the project (Viridis) complies with the European regulations on plastics that are used with food and therefore can be used in the production of beverage bottles and in products that are formed through heat (thermal formation).
In 2016, EQP and Coca-Cola started collaborating in Viridis 25, a product of PET containing 25 percent recycled PET.
Ramachandran noted that the Viridis 25 project came as a response from EQP to the requirements of the European Commission’s circular economy requirements, which are in line with the guidelines for the European Plastics Strategy.
EQP was established in 2004 to produce and market PET, which is used in the manufacture of plastic bottles. EQP is 100 percent owned by MEGlobal, which is a wholly-owned subsidiary of EQUATE as part of the EQUATE Group.
He explained that EQP produces PET, which is a raw material for the manufacture of high-quality plastics to produce bottles specifically.
Some of the advantages of this product include transparency to ensure optimum product presentation, low weight means that customers carry only the drink while the weight of the package is negligible, as well as strength ensures sturdy, practically unbreakable and safe packaging, he pointed out.
EQP produces about 350,000 metric tons per annum of PET. EQP is a leading provider of sustainable solutions for the plastics industry and is fully supported by the EQUATE Group in providing Viridis 25 as a commercial product during Q4 2019.