Amcor (ASX: AMC) has inked a five-year deal with ExxonMobil to purchase certified-circular polyethylene material in support of its target to achieve 30 per cent recycled material across its portfolio by 2030.
Amcor said the volume of material will increase incrementally each year, and is expected to reach 100,000 metric tons annually at the end of the five-year period.
Made possible by ExxonMobil’s Exxtend technology for advanced recycling, Amcor intends to leverage this material across its global portfolio, with a particular focus on the healthcare and food industries, which are required to meet stringent safety requirements for recycled plastic.
The agreement expands upon Amcor’s initial purchase of certified-circular polyethylene material from ExxonMobil earlier this year.
Amcor is already delivering a variety of solutions containing recycled content to customers around the world, including Mondelez International who has made the switch to 30 per cent food-grade recycled packaging for its Cadbury Dairy Milk, Caramilk and Old Gold family blocks in Australia.
Amcor CEO Ron Delia said, “We are committed to a future of more sustainable packaging and are excited to strengthen our ability to meet increasing customer demand for recycled content.
“We’re already working with major brands to support their sustainability ambitions and look forward to offering this innovative content across our global portfolio.”
ExxonMobil senior vice-president of product solutions Michael Zamora said, “Our expanded commitment will make our Exxtend technology for advanced recycling available to even more of Amcor’s customers across the globe, and represents an important step towards reaching our shared goal of helping to increase the amount of plastic waste that’s recycled”.
Amcor also aims to continue to make progress on its pledge to make all products recyclable, reusable or compostable by 2025, with 74 per cent of total production by weight already designed to be recycled.