Showcase: Recycling of Plastics to Sustainable Fuel
The world is facing a global plastics crisis. Out of the 8.3 billion tons of plastics produced since the 1950s, 79% ended in landfills or leaked into the environment. From the Mariana trench to Mt. Everest, there is virtually no place on Earth which is left untouched by plastic pollution. Considering the scope and impacts of plastic pollution, an increasing number of actors from governments, civil society and academia are calling for efforts to tackle the crisis at its source by reducing plastic production.
The Closing the Waste Loop (CTWL) Funding initiative is an R&D programme that was announced in December 2017, along with the Environmental Services Industry Transformation Map. It will support Singapore’s efforts in working towards the Sustainable Singapore Blueprint’s vision of zero waste nation. The initiative is to encourage collaborations with institutes of higher learning, research institutes and private sector partners, to develop technologies and solutions to tackle challenges posed by increasing waste generation, scarcity of resources and land constraints for waste management. The initiative will focus on thematic areas, covering: (1) resource and value recovery from key waste streams, e.g. plastics, food, electrical and electronic products; (2) diversion of ash and residues to conserve landfill space; (3) environmental remediation of closed dumping ground and landfill; and (4) data and analytic driven waste management solutions.
A*STAR - Providing R&D support for its technology
A*STAR is providing research and development support for a local company in its technology to recycle plastic waste by recovering its oil and converting them into marine or aviation fuels.
SDAX - Fund Raising & Financing Support
Moving forward, SDAX will be raising approximately SGD 1.5 million for this project as part of the program. To propel the project to scale as financial stewards, SDAX is working with the company to provide sustainable investment advisory that includes:
- building of business case for ESG;
- life-cycle assessment;
- performing ESG due diligence;
- steward leadership;
- credit due diligence;
- valuation; and
- deal structure