picture alliance via Getty Imagesof plastic produced annually is used for packaging, with only about 15% recycled. Much of this discarded plastic ends up in the ocean, breaking into microplastic particles entering the food chain. Plastic pollution is so severe, established in 2018 by New Zealand entrepreneur, Tim Williams, is addressing this crisis.
While I appreciate the lowered carbon footprint and human health benefits, I am even more interested in NILO's technology because of how its binder is made. The primary feedstock for NILO binder is plastic waste that would normally be incinerated or wind up making its way into the oceans and from there, into our food chain.
The total available market size is also attractive. About 20 million tonnes of UF is produced annually in a market worth $16 billion.