Page 11 - Packaging News Magazine Nov-Dec 2021

November-December 2021 | www.packagingnews.com.au | COVER STORY
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The merger will see Close the Loop Group become the largest users of post-consumer soft plastic waste in Australia, with Close the Loop having made large contributions to circular economy ideology with its TonerPlas asphalt-additive and rFlex recycled plastic resin product. TonerPlas is already being used by multiple councils throughout Australia, with current projects involving the upgrades to the Monash Freeway and the M80 in Melbourne.
TonerPlas has, according to Close the Loop Group, been scientifically proven to extend the longevity of roads by up to 30 per cent, while using large quan- tities of post-consumer soft plastic and toner waste that would otherwise be destined for landfill.
FLEXING MUSCLE
On the flexible packaging front, the use of recyclable films as well as recycled content has been a key focus in 2021 across the individual business units within O F Packaging and will continue to evolve with the merger, Foster says. Customers will have the opportunity to explore sustainability and packaging training sessions with the Group and tap into the expertise of the greater team for new packaging innovation projects.
These include products such as the award-winning, circular economy spout pouch packaging for household and personal care brand Zero Co, and the kerbside recyclable stand-up pouch for Byron-Bay based Brookfarm (which won two gold awards at this year’s Packaging Innovation and
Design Awards, as well as a coveted finalist spot in the Packaging Europe Sustainability Awards for 2021).
GOOD TIMING
The timing for the merger couldn’t be better. Close the Loop Group has an established global presence and a prof- itable business model, refined by an experienced and founder-led executive team. In the Board’s view, the Group is “set for growth in a time of rapid vol- untary and mandated action towards carbon and waste reduction, which has given rise to favourable tailwinds”.
The collective businesses within the Group directly address key global initiatives, such as the Organisation for Economic Co-operation and Development’s (OECD) 25 Climate Actions, the 2025 National Waste Targets set by the Australian Packaging Covenant Organisation (APCO), the EU Waste from Electrical
ABOVE: Two experts make a formidable team: Joe Foster (left) and Steve Morriss (right).
BELOW: Road to success: TonerPlas, which extends the longevity of roads, is already being used by multiple councils throughout Australia for major roadworks.
and Electronic Equipment Directive (WEEE), and general regulations on plastics and waste (including Producer Responsibility legislation).
Foster says there will be great opportunities for brand owners to collaborate with Close the Loop Group for sustainability initiatives, such as individual collection and recycling programs for products and packaging waste, helping companies to meet Environmental, Social and Governance (ESG) criteria and sat- isfy any current or future legislation.
With overwhelming interest already generated from initial investor groups, Close the Loop Group is well positioned to hit the ground running and expand its current operations in the urban min- ing sector across Australia, the United States, Belgium, and South Africa.
Foster says that following the ASX listing, the Group intends to make further strategic acquisitions where attractive opportunities arise, to achieve growth across new regions, while increasing its breadth of offer- ing in multiple markets.
Close the Loop Group has its sights set on being a global market leader in the circular economy by provid- ing end-to-end solutions for a variety of products and packaging formats. The Group will provide closed-loop systems for using recycled content, contributing towards its current com- mitment of zero waste to landfill. ■
Information on the Group and the list- ing can be found at https://ctlgroup. com.au, or contact the Group directly at investors@ctlgroup.com.au
Merging the two companies allows us to create a business suited for the circular economy and gets us closer to achieving the holy grail of recycling packaging back into packaging.”
— Joe Foster,
CEO, Close the Loop Group