In the latest press release, it has been revealed that there has been a significant advancement in the recycling and circular economy of automotive plastics. One of the most notable developments is the introduction of a first-to-market painted recycled sustainable polypropylene (rPP) bumper solution from plastic waste. This solution, valued as a Dissolution Recycled PP for Body Parts Project, offers carbon emissions savings and complies with EU End of Life Vehicles (ELV) regulations, requiring 25% automotive plastics from post-consumer recycled (PCR) materials, of which 25% must come from closed-loop recycling.
Moreover, the technology behind this advancement involves the dissolution recycling process combined with mechanical recycling, resulting in 100% rPP. The recycled material has undergone rigorous testing, including FTIR analysis to ensure its high quality and compliance with industry standards.
In addition to the pioneering recycled bumper solution, there have been tests conducted at the part level, specifically on the bumper fascia cover application for the VW Atlas. The results of these tests indicate that the bumper has demonstrated temperature resistance, withstanding -30°C, and has passed environmental testing, impact testing, and flexural strength testing.
The developments in recycling and circular economy in the automotive sector come at a critical time when there is a growing focus on enhancing circularity and sustainability. The EU Commission's proposal on the 'End of Life Vehicles' Regulation, published in July 2023, aims to ensure that at least 25% of plastic used to build a vehicle comes from recycling, with a specific target for new vehicles to be achieved by 2030.
Today the company's shares have moved 1.57% to a price of $13.59. For more information, read the company's full 8-K submission here.
