DUBLIN – Re-turn, the operator of Ireland’s Deposit Return Scheme (DRS), is set to invest a portion of its substantial cash reserves, including millions from unclaimed bottle deposits, into building a multimillion-euro bottle-to-bottle PET recycling facility in the country.
The move aims to drastically cut down on the current practice of exporting up to 90% of the collected PET plastic due to the absence of a domestic facility capable of processing the material into new food-grade containers.
At the end of last year, Re-turn reported a cash balance of €89.8 million, which included €66.7 million in unreclaimed deposits. These funds, along with producer fees, are intended to finance the new plant.
Re-turn CEO Ciaran Foley recently discussed the plans with Environment Minister Darragh O’Brien. Mr. Foley outlined a proposal to set money aside in a circular economy fund for the project, which he hopes will be “up and running” by 2027. Legislative changes and consultation with the European Commission regarding existing regulations may be necessary to facilitate the development.
The company confirmed it is “actively engaging” with the Government and industry partners on the project, which will be the country’s first dedicated bottle-to-bottle PET plant. The spokesperson noted that the scheme’s success in increasing the national recycling rate from 49% to 91% now provides the consistent, high-quality material needed to make such a facility viable.
As many as seven prospective contractors have reportedly expressed interest in constructing the facility, with a tendering process for the plant’s operation also underway.
