New Delhi [India], December 29 : Reliance Industries on Friday said it has become the first Indian company to chemically recycle plastic waste-based pyrolysis oil into International Sustainability and Carbon Certification (ISCC)-Plus certified circular polymers.
In a release, it said this innovation is a testimony to Reliance's commitment to reducing plastic waste and supporting the circular economy in India.
Reliance shipped its first batch of ISCC-Plus certified circular polymers, named CircuRepol™ (Polypropylene) and CircuRelene™ (Polyethylene).
"RIL's commitment to sustainability is demonstrated through its innovative methods like chemical recycling which help create a Circular Economy. The company firmly believes in finding smart solutions to reduce plastic waste and inspire others to join in this journey towards a greener future," the release stated.
CircuRepol™ and CircuRelene™ have been designed to lead the way in circular economy practices. Reliance's Jamnagar refinery became the first refinery to get the important ISCC-Plus certification, proving that it can produce circular polymers through chemical recycling.
The ISCC-Plus certification guarantees that traceability and rules are followed in making circular polymers.
Reliance has developed a technology that turns different types of plastic waste, including single-use and multi-layered plastics, into pyrolysis oil.
"The company is working with trusted partners to increase the production of this oil and turn the yield into Circular Polymers. Chemical recycling has many benefits, including turning plastic waste into high-quality materials for new plastic. These materials can be used for packaging that comes into contact with food," the release added.
Reliance is India's largest private sector company, with a consolidated revenue of Rs 974,864 crore (USD 118.6 billion), cash profit of Rs 125,951 crore (USD 15.3 billion) and net profit of Rs 73,670 crore (USD 9.0 billion) of the year ended March 31, 2023.
Reliance's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.
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