Change the World 2021: Eastman Chemical
CEO Mark Costa has the goal to remove more plastic waste from the environment.
Eastman is a company has been around 100 years part of Kodak and spun off as a separate company. We make a variety materials that go into thermal plastic engine materials, could go into your water bottle here, uh, into cars, renting or paint protection out. Is it going to paint animal nutrition products? Were very diversified company making a materials for a wide range of the market. We have significant environmental challenges. Top of the list is plastic waste as well as climate. And so we're focused on solutions that really address both. How do we get plastic waste out environment and how do we do it at a lower carbon footprint of you more efficient with our natural resources and the impact on emissions. And what we do is we can take plastic that has no alternative life. So it's a compliment of mechanical recycling, which is how, you know, recycling today and unzip it back into its building blocks, purified and then rebuild identical polymers that we make today at a carbon footprint that is substantially better than the current fossil fuel process. So we can take the water bottles that you have. We can actually take textiles that are made out of polyester or even carpet fiber with our technology products that have no alternative use but going to landfill or, you know, unfortunately, sometimes escaping into the environment, we take those polly Esther's and rebuild it back into polymer. Now, most of what we rebuild it back into our products for durable. So we have a tried and be free plastic and we turn that recycled content into this reusable bottles. We can turn it into cosmetic packaging that has, you know, multi use or we could turn it back into PP that's not really our focus. We're trying to upscale it in the durable product. We're really excited. We're already under construction to build 100,000 ton meth analysis plant that will recycle polyester back into a wide range of durable products. So every year we can Return 11 billion bottles back into durable products back into textiles. Right? So we can also make it back into polyester textiles as another source of where we go with material. So, lots of ways to proposals were also in conversations with governments and brands around the world about building a 2nd 3rd, 4th plant, uh, to scale this up and really address this problem on a global basis. Not just what we're doing here. If you just base it on sort of natural gas type products for about 30 to 40% better uh, in our carbon footprint to make the same building blocks. And that's how we're doing the first plant on the energy sources we have today. But the next plant after that, we'll focus on green energy Greenstein. And then you can start getting the carbon footprints to be even at the final product. You can get those, those to be Better than 50% than the fossil-fuel process. So we're eliminating all this oil discovery, petrochemical transportation, etc with one unit. It takes, you know, a little bit of methanol and some energy, and unzips the polymer and then rebuild it back into the original policy.