Chemicals and plastics maker Eastman is committing $250 million to open a new plastic-to-plastic recycling facility at its existing location in Kingsport, TN over the next two years, Tennessee Gov. Bill Lee, state economic development officials, and the company announced in a recent release.

Slated to reach mechanical completion in 2022, Eastman said the new plastic recycling plant will aid it in meeting its sustainability commitments on addressing the plastic waste crisis. The company has pledged to recycle over 500 million lb/yr of plastic with molecular recycling technologies by the end of the decade. Eastman is also aiming to recycle over 250 million lb/yr of plastic waste by 2025.

“With the growing demand for products made with recycled content and the urgent need to address the global plastic waste crisis, now is the time for Eastman to take this step. We are grateful for our partnership with Governor Lee in making today’s announcement possible,” Mark Costa, chairman of the board and chief executive officer for Eastman, said in a statement.

Once the site is completed, Eastman will use methanolysis to process polyester into specialty plastics with recycled content. The company has worked for more than three decades to develop its commercial scale methanolysis technology.

“This process of using plastic waste as the main feedstock is a true material-to-material solution and will not only reduce the company’s future use of fossil feedstocks, but also reduce its greenhouse gas emissions by 20%-30% relative to fossil feedstocks,” the release said.

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