Plastic Pollution Challenge
Viet Nam is in the top 4 countries contributing to plastic waste entering the oceans, especially in Ha Long Bay, with 5,272 tons of plastic waste generated annually.
Only 9% of plastic waste in Viet Nam is recycled, typically for low-value applications and simple use.
Solution
EcoTech has developed a groundbreaking technology that turns many kinds of plastic waste into novel, high-value aerogel materials for billion-dollar markets, such as heat and sound insulation, high-temperature garments and oil spill clean up.
A pilot has been launched in Singapore with the capacity to manufacture 250,000 m2 per year of aerogels from various wastes, including plastic, paper, textiles, rubber and agricultural waste).
Innovation
- Patented: Polyethylene Terephthalate (PET) Aerogels, SG Non-Provisional Application No. 10201802587W;
- Won first place for Sustainable Technologies, Create the Future Design International Contest 2018, Tech Briefs USA;
- Won TechConnect Innovation Awards 2019 in the USA;
- Received world-wide media coverage, with over 2 million views (Reuters, Bloomberg, CNA, Straits Times, etc.).
EcoTech has successfully overcome the problem of plastic waste by developing a means to convert them into high-value aerogels for many useful applications – the first aerogel made from plastic waste.
Eco-aerogels have practical applications, such as in oil-spill clean ups and heat and sound insulations, providing excellent water repellency, are highly compressible and ultra-low density, and have high-porosity, high absorption capacity and ultra-low thermal conductivity. At the end of their useful life, these aerogels can be recycled again to make other aerogels.
Notable achievements to date include:
Impact Model
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SDG 9 – Industry, Innovation and Infrastructure: Develop new aerogel materials from plastic waste to be used for oil spill clean up, heat and sound insulation; enhancing research and upgrading industrial technologies; promoting sustainable industrialization through the project’s manufacturing production. |
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SDG 12 – Responsible Consumption and Production: Apply sustainability in operations, such as using plastic waste as production materials; zero waste disposal; reusability and recyclability of the products. At end of life, products can be reused and recycled as raw materials for other aerogels. |
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SDG 13 – Climate Action: Prevent the harmful effects of plastic pollution; reduce CO2 emissions by reducing energy use, reusing and recycling different products. |
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SDG 14 – Life below Water: Apply newly developed aerogel in cleaning up oil spills in the ocean, contributing to reduce marine pollution, protect marine ecosystems and conserve coastal areas. |
Business Model
The technology is ready for mass production, with commercial equipment available and no critical technical problems.
- Phase 1 (2020-2021): Pilot & Selling products to partners;
- Phase 2 (2022-2023): Mass production & B2B (Selling products);
- Phase 3 (from 2023): B2B (Selling mass products and services (convert waste to products, oil spill clean up)).
The cost of production is USD 1.5 per square meter, and will sell for USD 4-5 per square meter for the absorbent version and USD 15-20 per square meter for the insulator version.
Targeting the Asia Pacific market, with very competitive prices through off-line and online channels.
Market
The global aerogel market was valued at USD 692.1 million in 2018 and is expected to reach USD 2.97 billion by 2026, at a CAGR of 19.7%. The market is primarily driven by demand from various end-use industries, such as oil and gas, building and construction, automotive, aerospace and marine.
Of particular note is that the robust expansion of the building and construction industry will positively impact demand for aerogel, as the number of residential and commercial construction projects rises across the globe.
Traction and Key Metrics
2018 – First development of aerogel from plastic bottles; Won first place for Sustainable Technologies, Create the Future Design International Contest 2018, Tech Briefs USA.
2019 – Completed optimisation and patented the technology; Won TechConnect Innovation Awards 2019 in the USA; World-wide media coverages with over 2 million views (Reuters, Bloomberg, CNA, Straits Times, etc.); Got interest from Mapletree, 3M, Enretech Australasia; SIA Engineering Company; WOHA Architects; Shell Oil Company, etc.
2020 – Piloted manufacturing (capacity of 250,000 m2 per year); Raised S$ 155,000 from Mapletree Investments Pte Ltd.
Vision
- Reach revenue of USD 5 million per annum by 2023;
- Expand market and set up factories in SEA (Indonesia / Malaysia) and Australia within 10 years;
- Global company and IPO by 2030.
Investment
- Our target is to raise USD 1 million in 2021, to reach production capacity of 1.2 million m2 of plastic aerogel per year.
- Expect $3 million in next 2 years, to increase the capacity to 3 million m2 per year.
Contact
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