Despite more people in the world adopting more sustainable ways of living, it is still not enough, it seems, given that less than 9% of plastic waste globally is recycled. Additionally, in spite of efforts by municipalities and governments to offer monetary incentives, the amount of plastics that aren’t recyclable grows by a considerable fraction annually and finds its way into our food, seas and even our bodies.
It seems straightforward, then, to rid ourselves and the world of plastic altogether, does it not? However, this discussion is much larger than us, as we’d first need to find a way to recycle all of the plastic produced globally, instead of the current 9% and get rid of it. This in itself is a good idea, as it would change things for the better.
However, this will be difficult to implement given that this particular line of business doesn’t profit enterprises or entrepreneurs in any major way, which makes it harder to motivate businesses to recycle as they receive close to nothing in return.
So then, how can we make the recycling of plastics more profitable?
Alkemy, a recycling technology company that recently listed on the Toronto Stock Exchange, seems to have the answer. After conducting research for more than 10 years and pouring more than $10 million into this project, the company’s founders have developed a profitable process for producing and recycling plastic-based goods that are manufactured from recycled plastics.
Alkemy recently revealed in its TSX filing statement that its process has been proven over three years of mining for plastics that are deemed nonrecyclable. This is in addition to noting that its process was fully operational.
The company occupies a 70% niche in Israel in this product space and is working on raising enough capital in Canada to fund the establishment of other factories in other countries across the globe, which will be located near plastics dumping sites, to help improve plastics recycling rates.
This is the only case so far in history that a company is mining a pollutant for raw materials, given that it recycles plastic into reusable products for construction purposes. This move to turn sustainability into a profitable enterprise may be just what the world needs to save people from the harms they cause.
More companies and enterprises implementing this firm’s strategy may boost global recycling and maybe even eliminate the use of single-use plastics in the long run.
Away from plastics recycling, Canada is also host to a number of precious metal and base metal extraction firms, including First Energy Metals Ltd. (CSE: FE) (OTCQB: FEMFF), which are going about their work in an ecologically responsible manner. If such eco-consciousness becomes the norm, the damage to the planet would be reduced significantly.
NOTE TO INVESTORS: The latest news and updates relating to First Energy Metals Ltd. (CSE: FE) (OTCQB: FEMFF) are available in the company’s newsroom at https://ibn.fm/FEMFF
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