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Union J.Plus: a key player in plastic recycling in Thailand
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Every year, Thailand generates more than 2.5 million tonnes of plastic waste, of which barely 25% is recycled. The rest often ends up in landfills – or, worse, in natural ecosystems, particularly marine ecosystems. Against this backdrop, Union J.Plus, partnered by the Circulate Capital Ocean Fund I-B, is playing a key role in the country's plastics recycling industry.
Union J.Plus specialises in the production of recycled plastic resin, a sustainable and economic alternative to the virgin resins used by industry. Every year, the Union J.Plus factory – located in the Samut Prakan Free Trade Zone, south-east of Bangkok – processes up to 32,000 tonnes of used plastic, including 20,000 tonnes of high-quality plastic.
As CEO Kulanart Siriphati explains,“Union J. Plus collects previously used or discarded plastic – including ocean and other type of plastic – that we recycle using modern technology". The waste is sorted, crushed, washed and cleaned before being transformed into plastic threads and then pellets, which are sent to Union J.Plus's customers for reuse.
In 2023, this virtuous model enabled the Company to benefit from strategic support from Circulate Capital, through its Circulate Capital Ocean Fund I-B, focused on combating plastic pollution in South and Southeast Asia.
Environmental impact
Union J.Plus plans to use this financial support to increase its recycling capacity, improve its supply chain and upgrade its processes. This is a crucial development in a country where a shortage of plastic waste recovery facilities represents an annual estimated economic loss of $US 4 billion.
The Circulate Capital Ocean Fund I-B – supported by Proparco – aims to support the regional players involved in the circular economy by investing in concrete solutions to reduce plastic pollution at source.
These increased resources provide Union J.Plus with the tools it needs to tackle the challenges posed by plastic waste recycling in Thailand. By focusing especially on innovation, the company is demonstrating that it is possible to combine economic performance with a positive environmental impact.
See also: The impact funds being supported by Proparco in the Indo-Pacific region
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