Plastonix, Vee Technologies to develop plastic waste recycling system in India
Toronto, Nov 25 : In a bid to help India tackle plastic waste, Canada-based plastics recycling technologies company Plastonix on Monday announced a collaboration with Bengaluru and New York co-headquartered IT services company Vee Technologies.
The companies will pursue a 50:50 joint venture to collaboratively develop a plastic waste recycling system in India, using Plastonix’s patent pending technology.
Vee Technologies will select a site for its first facility. Using its in-house engineering team, it will design, build the pilot plant and outfit it with proprietary equipment and manufacturing, the company said in a statement.
Vee Technologies will use this facility to optimise the commercial-scale efficacy of the technology for the Indian market and use this know-how to benefit the joint venture with Plastonix.
The country produced nearly 9.46 million tonnes of plastic waste in 2023, according to the Central Pollution Control Board (CPCB) data, with two-fifth of this being made up of single-use plastic. It is estimated that only eight per cent of plastic waste is being recycled.
“With their significant engineering strength, Vee Technologies is an exceptionally good fit for Plastonix. We look forward to working closely together with their team for the coming years,” said Roland Kielbasiewicz, CEO of Plastonix.
Once the goals of the pilot have been attained, Plastonix and Vee Technologies will launch a new plastic recycling programme for India to significantly reduce plastic waste in the region. The country formulated Plastic Waste Management Rules in 2016 to manage plastic waste nationally.
“The versatility and ubiquitous use of plastics in the modern world have made plastic waste disposal one of the major challenges crying for a solution. We are excited to partner with Plastonix to test and expand use of this technology by reformulating waste plastic into industrial fuel and construction aid,” said Chocko Valliappa, Founder and CEO of Vee Technologies.