Matrixx to set up post-consumer PET, HDPE recycling operation

04/18/2011

Matrixx Resource Holdings Inc. (Houston) has created a joint-venture company to trade and recycle post-consumer polyethylene terephthalate (PET) plastic bottles, as well as their high-density polyethylene (HDPE) caps, and sell the recycled products. The joint venture is developing a proprietary equipment design and process that will eliminate the human component in the sorting process for a more efficient and cost-effective system.

Longer term, Matrixx hopes to build a recycling facility in the New York metropolitan area that it says will incorporate renewable energy sources and serve as an education center. This plant would be Food & Drug Administration (FDA) certified and able to process the post-consumer plastics into grades suitable for use in food and beverage containers, as well as medical supplies.

The partnership has identified and initiated discussions for the acquisition of processing facilities, as well as purchase and sales contracts within and around Central and South America. The partnership plan provides for specific collection and sales contracts of specified tradable commodities, including plastic, brass, copper, aluminum, and other valuable tradable resources.


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