Far Eastern New Century's Circularity Performance Ranks First Place among Global Peers
TAIPEI, June 28, 2023 /PRNewswire/ -- Far Eastern New Century Corporation (FENC), a leader in green polyester materials, is committed to promoting a circular economy and recycles more than 20 billion used PET bottles into new products every year. FENC is the leader of food-grade recycled PET and recycled polyester filament. According to the research report, Plastic Waste Maker Index 2023, published by the Australian philanthropic organization Minderoo Foundation in 2023, FENC stands out from 400 companies worldwide for its excellence in circularity performance, winning first place in the global plastics industry and dominating all evaluation components. FENC is the only one that has been reported by case study, including how it has consistently taken steps to expand its recycled PET business and formulated the strategy, risk management plan and targets for its recycling operations. FENC is the only company among the peers to have a board-level sustainability committee overseeing its recycling strategy.
FENC has invested in the circular economy for over 30 years, using its core strengths to create various innovative recycling technologies, including applications for land, ocean and air waste recycling. FENC has developed the FENC®TopGreen®ChemCycle, which uses a chemical process to recycle waste textiles, which are much more complex than waste PET bottles, and convert them into recycled PTA for use as polyester raw materials and then into new polyester products.
Ocean recycled anti-bursting jerseys, which are made from ocean waste PET bottles, are the first of their kind in the world to be used in the 2022 World Cup football national team kits, with 9 national teams already wearing them, including the champion Argentina. FENC formed collaborations with international brands to utilize bio technology which transforms industrial waste gas into low carbon polyester and produced the world's first apparel made from recycled waste gas. The low carbon polyester, FENC®TOPGREEN®Bio3 PET, won the world class awards, including International Textile Manufacturers Federation's Sustainability & Innovation Award and the International Innovation Awards in 2022 as well as the Red Dot Design Award in 2023.
FENC serves as an industry leader in driving innovation through R&D and technology and working with well-known brands to build a sustainable supply chain.
About Far Eastern New Century (FENC)
FENC, an international company based in Taiwan, was established in 1949 and operates in the US, Japan, Mainland China, Vietnam, Malaysia, and the Philippines as well as in many other countries and regions. FENC is the only polyester supplier in the world vertically integrated to offer a product portfolio spanning the gamut from raw materials to consumer products. The range of products and applications cover all facets of life, including PET bottles, food and non-food packaging, hygiene, automotive, and home textiles as well as functional athletic apparels. FENC's 2022 consolidated revenues reached USD$8.8 billion.
Please visit www.fenc.com for more information.
SOURCE Far Eastern New Century Corporation
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