NEW YORK--(BUSINESS WIRE)--New York-based GreenSteel, LLC, and its affiliate, International Recycling Group, LLC (“IRG”), today announced that it has sold membership interests in IRG to Spartanburg, South Carolina-based, United Resource Recovery Corporation, Inc. (“URRC”).
IRG is pursuing the goal of 100% utilization of plastic scrap by separating PET, HDPE and other readily recyclable plastic categories from non-recyclable plastic scrap streams, and converting the non-recyclable portion into a cost-effective, environmentally beneficial, reducing agent for the steel industry.
The use of economically non-recyclable plastic scrap as a reducing agent for the steel industry eliminates landfilling of end-of-life plastics, reduces coal mining, lowers greenhouse gas emissions and drives higher recovery rates of recyclable plastics for conversion back into finished products. IRG’s partnership with URRC provides IRG with access to URRC’s proprietary UnPET® food-grade PET recycling technology. This will allow IRG to provide a home for tens of millions of pounds of sorted RPET it expects to process at its future PolyCoke™ facilities in the US and abroad.
Terms of the transaction were not disclosed.
IRG is currently developing plants dedicated to the manufacture of PolyCoke™ by sourcing plastic scrap that cannot be economically recycled and would otherwise enter the landfill. WWW.INTERNATIONALRECYCLING.COM
URRC is a pioneer in the recycling of silver bearing films in the U.S. and post-consumer PET for food-grade applications globally. URRC has developed patented and proprietary technologies for plastics recycling and has licensed the technology for client processes in eight locations around the world. URRC also offers engineering, design, build and operations services for clients. WWW.URRC.NET