SEATTLE (Recycling Monster): Mondelez International- one of the world’s largest snacks companies has joined hands with packaging manufacturer Amcor to invest in plastic recycling in Australia.

The two companies have invested an undisclosed amount into Licella Holdings- a global leader in hydrothermal liquefaction (HTL), the next-generation of advanced recycling. Licella’s patented Catalytic Hydrothermal Reactor (Cat-HTR) advanced recycling platform recaptures carbon from a wide variety of recovered resources.

The new facility will be called Advanced Recycling Victoria and will be initially capable to process about 20,000 tonnes per year of end-of-life plastic. The processing capability will be scaled up to 120,000 tonnes per year at a later stage. The recycled content produced by the patented process will provide for much of the needs of the soft plastic packaging industry in the country.

The collaboration aims to close the gap in sustainable local recycling solutions, said Christine Montenegro McGrath, chief global impact and sustainability officer at Mondelez. This will help create a more sustainable future for plastics, he added.

The investment comes at a time when there is an exponential growth in demand for sustainable plastic solutions across the globe.