JEPLAN, INC. (CEO & Co-Founder：Masaki Takao：“JEPLAN”)and Rebound Limited (General Manager：Maryam Al Mansoori：“Rebound”), a company based in Abu Dhabi, the capital of the United Arab Emirates (“UAE”), which is engaged in the global development of the recycled plastics trading market, have signed a letter of intent (“LOI”) for a joint project to establish a recycle PET market in the UAE with the appropriate ecosystem. The agreement was signed on 31 May 2023 at the “Make it in the Emirates Forum”.
Rebound, which signed the agreement, is a subsidiary company of International Holding Company (IHC), a UAE investment holding company, launched less than a year ago, the first global trading platform for quality-assured recycled plastics, Rebound Plastic Exchange (RPX).
The signing ceremony was held at the “Make it in the Emirates Forum” organized by the UAE’s Ministry of Industry and Advanced Technology (“MoIAT”) in cooperation with in partnership the Abu Dhabi Department of Economic Development (“ADDED”) and ADNOC. It was attended by representatives from MoIAT, Ministry of Economy, Trade and Industry, government of Japan (“METI”) and Universal Materials Incubator Co.,Ltd.(“UMI”).
The project consists of four steps and will be jointly studied with the aim of agreeing on a demonstration project for the construction of a PET chemical recycling plant in the UAE in preparation for the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC, COP28) to be held in the UAE in November this year. Through the joint study, the participation of partner companies in the UAE will be widely sought, with the aim of establishing a supply chain for recycled PET in the UAE. With the signing of this agreement, the joint study will be carried out in stages, and JEPLAN will be involved in quality surveys of used PET bottles collected in the UAE, verification of recycling costs, and verification of the plant's manufacturing operations.
The LoI Is one of many agreements signed during the Make it in the Emirates Forum in line with MoIAT’s efforts to support the UAE’s economic growth and diversification, as well as its net zero by 2050 strategic initiative.
JEPLAN has a vision of “BRING everyone into circular economy”. JEPLAN uses its unique PET chemical recycling technology, BRING Technology™, mainly for PET bottles and polyester fibers. This technology enables the transformation of used products into materials of equivalent quality to those derived from petroleum. By achieving a continuous cycle of recycling, it contributes to the reduction of CO2 emissions and facilitates a resource circulation system that allows for repeated regeneration. JEPLAN group operates PET chemical recycling plants at two locations in Japan, utilizing this technology.
We are pleased to announce our participation in the collaborative verification project in the UAE, which recognizes the knowledge and unique technology we have accumulated over our decade-long recycling business. We are honored to bring our expertise to this endeavor and contribute to the efforts in the UAE.
JEPLAN Group will continue to collaborate with grobal partners and unite the efforts of the entire group to realize its vision to "BRING everyone into circular economy”.
Photo of the signing ceremony *From the left: CEO & Co-Founder at JEPLAN, INC. Masaki Takao/ Director for Petroleum LNG and Fuel Ammonia Policy Agency for Natural Resources and Energy, Mr.Masashi Watanabe/ Minister of State for Public Education and Advanced Technology, Her Excellency Sarah Bint Yousif Al Amiri/ Undersecretary of Ministry of Industry and Advanced Technology, His Excellency Omar Ahmed Suwaina Al Suwaidi/ Finance & Admin Director at REBOUND Limited, Mr.Alvin Pereira
■Rebound Limited (https://www.reboundplasticexchange.com)
General Manager: Maryam Al Mansoori,
Established: December 2021.
Main business activities: Advisory on the plastic recycling industry, establishment of partnership contracts, and facilitating the trade of quality-assured plastic feedstock.
【Press Release】
【Press Release】JEPLAN signs a letter of intent with Rebound Limited for a joint project to establish a recycled PET market in the UAE.pdf