Sustainable plastic: start-up New Life Plastics to recycle a quarter of Hong Kong’s waste bottles each year
- Hong Kong start-up New Life Plastics will start operations at its 6,500-square-metre recycling plant in Tuen Mun early next year
- The stakes are high for the company as Hong Kong’s recycling rate has been flagging in recent years
Although Hong Kong remains at the early stages of implementing policy that encourages recycling of used plastic bottles, NLP is betting that its €10 million (US$11.6 million), 6,500-square-metre plant in Tuen Mun district will manage to break even in five to seven years after commercial operations start early next year.
“Today, I can assure you that our recycling plant, built with the best available and proven technology, can produce food-grade materials to be made into bottles or packaging, which can be recycled again,” NLP general manager Frank Schepers told the South China Morning Post.
Commissioning of NLP’s plant, now in its final stages of equipment installation, was delayed by around a year because of supply chain challenges caused by the Covid-19 lockdowns.
