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PARIS - French President Emmanuel Macron and Mark Costa, board chair and CEO of specialty materials giant, Eastman, have jointly announced that plans that will see Eastman invest up to US$1 billion in a material-to-material chemical recycling facility in France.

The facility will use Eastman's polyester renewal technology to annually recycle up to 160,000 metric tonnes of hard-to-recycle plastic waste, most of which is currently being incinerated.

Muted figures suggest that the investment would recycle enough plastic waste annually to fill Paris’ Stade de France national football stadium 2.5 times over, while also creating virgin-quality material with a significantly lower carbon footprint.

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