EINDHOVEN – Dutch company, Ioniqa Technologies, which upcycles low-grade post-consumer plastic waste into a “virgin-like” quality feedstock, has sought bankruptcy protection. The news comes as another blow to plastic recycling efforts globally. While Ioniqa’s focus was on creating a recycled material suitable for high quality food grade applications, the news will still sound alarm bells for PET recyclers focused on fashion applications. Do the economics of such work stack up?
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