Under this MoU, the packaging specialist will provide its material science, application development expertise and testing capabilities at Pack Studios Shanghai and Mumbai to Lucro. This will enable Lucro to develop and manufacture film structures by employing its Plast-E-Cycle process (converts plastic waste into granules) in combination with Dow Packaging’s virgin resins.
According to the packaging specialist, this collaboration is aligned with the company’s new sustainability target of collecting 1-mn MT of plastics to be reused or recycled by 2030.
“Scrap packaging is one of the country’s highest contributors of plastic waste and we look forward to this collaboration to promote the adoption of sustainable solutions among brand owners and manufacturers and contribute to a reduction in plastics entering the environment as waste,” said Bambang Candra, Asia Pacific commercial vice-president, Dow Packaging and Specialty Plastics.
She added, “Finding value in waste is key for the circular economy to set new standards for the flexible packaging industry and create a viable circular system for flexible plastics.”
“We established Lucro on the belief that there is value to be found in mismanaged plastic waste through recycling. With intent, effort and collaboration across the entire value chain, we can define and build a new plastic value chain that ensures the material is reused and does not end up in the environment,” said Ujwal Desai, co-founder and managing director of Lucro. “Our partnership with Dow provides us with additional expertise to develop high quality, innovative and recycled-content flexible film for businesses.”
The first application segment that both companies are set to focus on will be collation of shrink films, followed by a range of applications, such as shipping sacks, eCommerce bags and non-food packages, among others.