Reliance Industries, India’s largest private sector company, has achieved a major milestone in its efforts to promote circular economy and reduce plastic waste. The company has become the first in India to chemically recycle plastic waste-based pyrolysis oil into International Sustainability and Carbon Certification (ISCC)-Plus certified circular polymers .
Pyrolysis oil is a product of breaking down different types of plastic waste, including single-use and multi-layered plastics, using high temperature and pressure. Reliance has developed a technology that can convert this oil into high-quality materials for new plastic, which can be used for food packaging applications .
The company shipped its first batch of ISCC-Plus certified circular polymers, named CircuRepol (Polypropylene) and CircuRelene (Polyethylene), on Friday. These products are designed to lead the way in circular economy practices, as they reduce the dependence on fossil fuels and lower the carbon footprint of plastic production .
Reliance’s Jamnagar refinery became the first refinery to get the important ISCC-Plus certification, proving that it can produce circular polymers through chemical recycling . The ISCC-Plus certification guarantees that traceability and rules are followed in making circular polymers.
“RIL’s commitment to sustainability is demonstrated through its innovative methods like chemical recycling which help create a Circular Economy. The company firmly believes in finding smart solutions to reduce plastic waste and inspire others to join in this journey towards a greener future,” the company said in a release .
Reliance reported a consolidated revenue of Rs 974,864 crore (USD 118.6 billion), cash profit of Rs 125,951 crore (USD 15.3 billion) and net profit of Rs 73,670 crore (USD 9.0 billion) for the year ended March 31, 2023. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services .