Eastman selected by US Department of Energy to receive up to $375 million investment for its second US molecular recycling project

Incentives from the U.S. Department of Energy and the State of Texas

The company was selected by the DOE to accelerate the demonstration of industry-leading low-carbon intensity recycled PET with this project. Reaching a collaborative agreement with the DOE enables expanding the project to include the deployment of thermal heat batteries and onsite solar power. This, combined with Eastman’s next-generation methanolysis technology, achieves a step-change improvement in decarbonizing PET production resulting in recycled PET with greater than 70 percent reduced carbon emissions compared to fossil virgin production, and approximately 90 percent reduced carbon emissions when including avoided emissions.

Eastman’s planned project in Longview is aligned with the DOE’s goal of catalyzing industry-wide change to a low-carbon future. Also, as part of the award from the DOE, the company plans to support the renovation of a community center to be used as a hub for community outreach, workforce training and development, and other ongoing needs of its community partners.

“We are honored to be selected by the DOE to help fund this important project,” Costa continued. “The commitment helps us to further invest in the local community with a comprehensive community benefits plan. The support of these partners is a testament to our technology and the difference we can make for future generations.”

Eastman also obtained significant state and local tax incentives in support of the project totaling approximately $70 million.

“Texas is where businesses flourish and people prosper,” said Texas Governor Greg Abbott. “With our highly skilled workforce, unmatched business climate, and reasonable regulations, it is no surprise businesses from around the globe continue to choose to grow in Texas. This additional facility by Eastman in Longview will bring hundreds of good-paying jobs to hardworking Texans and millions in capital investment to East Texas. I thank the members of the Texas Legislature and local leaders for their tireless work to attract world-class business investments to our great state. Together, we will continue to create a bigger, better Texas for generations to come.”

“We also deeply appreciate the support of Governor Abbott and the State of Texas for its continued collaboration as we announce this large investment at our Longview facility,” Costa added. ‘We are excited to work with the state and local leaders to continue our legacy in Texas for generations to come.”

Eastman’s proven polyester renewal technology recycles hard-to-recycle plastic waste bound for landfill or incineration today. The company’s technology allows this waste to be broken down into its molecular building blocks and then reassembled to become virgin-quality material without compromising performance. Eastman is enabling the potentially infinite use of materials by keeping these valuable molecules in production, in a material-to-material high-yield loop. Eastman can transform waste plastic into virgin quality food contact polyesters with lower greenhouse gas emissions than traditional methods.

In addition to this newly announced facility in Texas, Eastman has recently completed its first molecular recycling facility in Kingsport, Tennessee, and plans to invest in another location in France.

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