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Wednesday, March 10, 2021
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Technip Energies, IBM and Under Armour form joint venture to advance the possibilities of plastics recycling technology

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Technip Energies, IBM, and Under Armour have entered into a joint venture agreement to build and commercialize a new recycling framework and circular economy for polyethylene terephthalate (PET), which is commonly used in the manufacture of synthetic fibers, plastic bottles, and rigid food packaging. 

With work set to begin later in 2021, this newly formed joint venture combines IBM Research technologies and expertise; Technip Energies’ abilities in technology development, engineering studies and licensing proficiency; and Under Armour’s deep technical apparel, footwear and global textile supply chain capabilities.  

Arnaud Pieton, Chief Executive Officer of Technip Energies, commented: “We are very proud to collaborate with two global leaders: IBM and Under Armour. This initiative reflects our commitment to Energy Transition and aims to strengthen Technip Energies’ position in the circular economy and sustainable chemistry. We look forward to initiating this work and exploring how technology can help to advance the expanded recycling of plastics and fibers across different industries.”

 

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering. 

Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”). For further information: www.technipenergies.com.


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