Freepoint, Biotrend partner to build chemical recycling plants in Turkey, Balkans

US-based Freepoint Eco-Systems and Biotrend have entered a strategic partnership to expand their chemical recycling capacity in Turkey, the Balkans, and Central Asia.

Biotrend, a Turkey-based waste and energy company, is currently developing the country’s first chemical recycling plant, a 60,000 tonnes/year pyrolysis facility in Izmir. This May, Freepoint announced it would build ‘the first of several’ chemical recycling plants in Europe in Belgium.

Now, the companies said they are considering a 50-50 joint venture to develop and own future projects. Additionally, Freepoint Eco-Systems said it would purchase approximately 10% of the shares of Biotrend through an investment in newly issued shares, after satisfactory completion of the due diligence process. Proceeds from Biotrend's capital increase would then be used to develop and fund chemical recycling facilities including the Izmir facility.

Freepoint and Biotrend aim to build plants in Turkey, the Balkans (made up of Bulgaria, Bosnia and Herzegovina, Serbia, North Macedonia, Kosovo, Albania, Montenegro, Romania, Croatia, Slovenia, and Moldova), and Central Asia, the partners said in a statement. They are targeting a total production capacity of 250,000 tonnes of waste plastic annually.

"The expansion of our [chemical] recycling footprint into Turkey, the Balkans, and Central Asia represents an important step forward for Freepoint Eco-Systems in its ongoing effort to help solve the plastic waste problem on a global basis," said Oscar Gutierrez, president of Freepoint Eco-Systems International. " Biotrend has a strong track record of operating integrated solutions for municipal solid waste in Turkey, and we look forward to building this new plastic recycling infrastructure together."

Freepoint is currently building a 90,000 tonnes/year pyrolysis plant in Ohio, United States, which it said is scheduled to start operations this year. It has also announced plans for another 180,000 tonnes/year plant in Eloy, Arizona.