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Abundia Global Impact Group Enters into Licensing Agreement with Alterra Energy

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CHARLOTTE, NC / ACCESSWIRE / October 28, 2021 / Abundia Global Impact Group (Abundia), a technology company focused on circular solutions and sustainability, today announced it has entered into a licensing agreement with Alterra Energy (Alterra), a leader in the advanced recycling of plastics into petrochemical products.

Alterra's thermochemical liquefaction process will be combined with Abundia's disruptive upgrading technology to recycle plastic waste into usable chemical products, providing a circular solution to the plastic waste that is treated. Abundia plans to commence development of its first site in Mainland UK, which initially will have the capability of processing up to forty thousand tons of plastic waste per annum into various recycled chemicals during the second half of 2022 and, through expansion, is targeted to increase processing to one hundred and twenty thousand tons annually by 2027.

"Having spent many years researching, co-developing, and reviewing scores of technologies that attempt to solve the global plastics recycling crisis, I'm convinced that the combination of Alterra's liquefaction platform and Abundia's downstream upgrading technologies will provide a robust and circular solution to the waste plastics problem cluttering our world today," stated Dr. Martin Atkins, Chief Scientific Officer of Abundia Global Impact Group. "Our combined, efficient, high-volume continuous process creates an economical and sustainable solution for plastic and municipal wastes that are sought by global stakeholders including governments, industry, environmental groups, and consumers."

"Abundia shares our commitment to solving plastic pollution and to supporting the circular economy. Our innovative advanced recycling approach, combined with Abundia's upgrading technology process, is another step in this direction," stated Frederic Schmuck, CEO of Alterra.

The terms of the agreement were not announced publicly.

About Abundia Global Impact Group

Founded in science and united in purpose, Abundia Global Impact Group was formed by bringing together two of the world's most respected visionaries in the fight against global pollution: Dr. Martin Atkins, co-founder and CEO of Green Lizard Technologies and Dr. Sam Weaver, founder and President of Proton Power. Through combining Green Lizard and Proton's patented and modular technologies, Abundia uniquely provides solutions to two of the world's biggest problems: global waste and our dependence on fossil fuels. We are on a mission to transition the world into a decarbonized future by turning biomass and plastic wastes into high grade renewable fuels, energy, and chemical commodities, thus answering the demand for scalable and sustainable solutions within established global markets.

https://www.abundiaimpact.com

About Alterra Energy

Alterra Energy is solving the plastic pollution challenge on a global scale with the development and commercialization of a continuously advanced recycling technology. At its Akron, Ohio plant, the company converts plastic destined for landfills into petrochemical materials that can be further refined into new plastic production and other petrochemical products. The facility is International Sustainability and Carbon Certification PLUS (ISCC PLUS) certified as a pyrolysis plant and collection point for mixed plastic waste. Alterra Energy utilizes a scalable, patented, thermochemical liquefaction technology to process and recycle waste plastic, diverting millions of pounds of plastic from landfills. Its team of engineers, experts, and partners are driven by one purpose: creating a cleaner planet for future generations. Alterra Energy licenses its technology to entities looking to recycle more challenging plastics or seeking more sustainable products. It is partnering with companies in the solid waste industry, government entities, and petrochemical companies.

https://alterraenergy.com/

Contact Info

Chuck Harbey,
c.harbey@abundiaglobalimpactgroup.com, for Abundia

Bob Zeitlinger,
bzeitlinger@makovsky.com, for Alterra Energy

SOURCE: Abundia Global Impact Group



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