International legal practice Osborne Clarke has advised Mura Technology, the global pioneer of an advanced plastic recycling solution, on its multi-million dollar partnership with Dow, one of the world’s largest plastic manufacturers, to help solve the global plastic waste crisis.
The partnership will support the rapid scaling of Mura’s new HydroPRS™ process to prevent millions of tonnes of plastic and carbon from entering the natural environment every year and create the ingredients for a sustainable, circular plastics economy. The deal marks an important step in Dow’s commitment to advance a circular economy for plastics and take action to significantly reduce plastic waste in the environment.
Mura’s proprietary solution, HydroPRS™ (Hydrothermal Plastic Recycling Solution), is a revolutionary advanced recycling process that uses supercritical steam to convert plastics back into the oils and chemicals from which they were made, for use in new, virgin-equivalent plastic products. HydroPRS™ can recycle all forms of plastic – including multi-layer, flexible plastics used in packaging, which are considered ‘unrecyclable’ and are usually incinerated or sent to landfill.
Importantly, the recycled products may be suitable for use in food-contact packaging, unlike conventional recycling processes. There is no limit to the number of times the same material can be recycled with Mura’s process, meaning it has the potential to eliminate single use plastic and make the raw ingredients for a circular plastics economy, creating value not waste. In addition, advanced recycling processes are expected to save approximately 1.5 tonnes of CO2 per tonne of plastic recycled, compared to incineration.
The Osborne Clarke team was led by Partner Matthew Bodfield and Associate Director Jonathan Falconer with support from Associate Krish Mistry.
Osborne Clarke previously advised Mura on its global licensing partnership with KBR.
Decarbonisation will be crucial to meeting the climate change challenge and achieving net zero carbon targets by 2050. Developing solutions to reduce plastic and carbon waste will prove crucial to this. Osborne Clarke is supporting its clients as they strive to meet the challenges of decarbonisation and achieving net zero. The team’s experience and sector expertise means they are well placed to advise on your decarbonisation journey.