Rebound, a subsidiary of Abu Dhabi’s International Holding Company (IHC) announced 5 September that it had launched Rebound Plastic Exchange (RPX), a global B2B digital trading platform for recycled plastics. With the start of the platform, Rebound, which was established last January with the stated intention of creating a global marketplace for plastic recycling, has now fulfilled that goal.
Rebound Plastic Exchange introduces globally recognised standards, certification, insurance, and quality assurance into the supply chain to facilitate the cross-border movement of regulatory compliant feedstock of consistent quality.
The platform aims to increase the efficiency of recycling plastic at scale, provide new economic opportunities and reduce the impact of plastic pollution - unlocking a global business opportunity worth AED 56 billion, said IHC.
In her keynote, Maryam Al Mansoori, general manager at Rebound, said, “RPX was envisioned to bring trust and quality assurance amongst buyers and sellers. Our digital platform provides companies and nations with a vital benchmark for their capacity to adopt and trade quality assured plastics, equip them with frameworks to facilitate exchange, and highlight the tangible benefits of transparent plastic trading. Overall, the platform inherently complements governments’ commitments to the Basel Convention’s Amendments on the trade of plastic and enhances the responsible participation in recyclable plastic trade.”
To ensure continuous transparency whilst facilitating cross border trades, RPX will run specification sheets, endorsed by industry membership association RECOUP, that are tailored according to each listing found on the RPX B2B marketplace. These specification sheets were developed by a group of industry experts led by Prof. Edward Kosior, managing director of Nextek. RPX will also implement an innovative passporting system to operate an end-to-end digital certification according to global standards. Industry members in the Middle East, North America, Latin America, India, Southeast Asia and Europe have already subscribed to the Rebound Plastic Exchange.