Press Release
Leveraging Summit's expertise in midstream energy infrastructure, the two companies will cooperate as Clariter continues to advance its strategy to build commercial scale plants in
Plastic waste: a global challenge
400 million tons of new plastic are produced annually, and by 2050, this is expected to more than double. Of all the plastic ever manufactured, 70% is used only once, of which only 9% is recycled. The rest is either discarded in landfills or incinerated, releasing harmful CO2 into the atmosphere.
Clariter has developed a unique and proven chemical upcycling technology that complements other traditional mechanical recycling methods. Clariter's patented technology can treat most plastic waste types (including polyethylene, polypropylene and some polystyrene) and convert plastics into ready-to-use, pure products such as waxes, oils and solvents, displacing fossil fuel-based alternatives.
Clariter's high-quality and sustainably produced products have the potential to reduce the world's dependency on crude oil. Clariter's premium products meet the highest industry standards of purity, are food-contact grade and meet or exceed the benchmarks of their fossil-fuel based equivalents.
Clariter and Summit: complementary clean energy expertise
Summit's Chief Executive,
Clariter's CEO,
Clariter offers a commercially attractive combination of profitability and sustainability: an integral part of Clariter's development strategy is to identify partners that, like Summit, are looking for solutions to global environmental challenges."
About Clariter
Clariter is a global cleantech company that has developed a chemical recycling process that provides a solution to the plastic waste epidemic. This proprietary, efficient technology transforms plastic waste into high-quality, high-value products: oils, waxes, and solvents that replace fossil-based products. Clariter offers a commercially attractive combination of profitability and sustainability.
About
Headquartered in
View original content to download multimedia:https://www.prnewswire.com/news-releases/clariter-welcomes-summit-midstream-partners-to-its-group-of-strategic-investors-announcing-collaboration-supporting-clariters-future-united-states-roll-out-strategy-301762832.html
SOURCE
Summit's Investor Relations lead, Randall Burton, at: randall.burton@summitmidstream.com; Clariter's Public Relations Specialist, Barbara Ciesielska, at: barbara.ciesielska@clariter.com