Plastics recycling startup MacroCycle has announced a new deal with Meta, which will support the development of MacroCycle's first commercial plant. The three-year-old Cambridge, Massachusetts-based company has developed a method to process plastic waste, removing contaminants to create recycled material.
Under the agreement, Meta will pay MacroCycle for environmental attribute credits (EACs), which represent avoided emissions. This allows Meta to count these reductions towards its own carbon footprint, which is reportedly increasing due to the growth of AI. A Meta spokesperson confirmed this is the company's first such deal.
The payments for EACs will provide MacroCycle with a revenue stream to help fund the construction of its new plant in the U.S. MacroCycle states its technology results in 80% fewer carbon emissions compared to new, non-recycled virgin PET plastic. The company's demonstration plant is expected to produce 5,000 metric tons of recycled plastic annually.
MacroCycle's process involves dissolving and purifying PET from various waste streams, including textiles, which have a low recycling rate. The method uses solvents instead of heat, contributing to energy savings and potentially lower costs. The resulting material is described as indistinguishable from new plastic.