Freepoint Eco-Systems Belgium NV (Freepoint Eco-Systems) and North Sea Port have announced the signing of a long-term concession agreement to develop Freepoint Eco-Systems' first advanced plastics recycling facility in Europe. This facility will be located at the Kluizendok site on the left bank of the Ghent-Terneuzen Canal in Belgium, within the North Sea Port area. Once completed, it will be one of the largest plastic recycling facilities in the world.

Freepoint Eco-Systems plans to build an ISCC-Plus Certified advanced recycling facility designed to recycle end-of-life waste plastic, preventing it from being incinerated. This state-of-the-art facility will cover 10 hectares (24.7 acres) of undeveloped land and will have the capacity to recycle approximately 80,000 metric tons of waste plastic each year.

The project is planned for future expansion, with a site capable of supporting a projected total recycling capacity of around 160,000 metric tons of waste plastic annually. Freepoint Eco-Systems is currently focused on securing feedstock and finalizing financial plans. Construction is expected to begin once the permitting process is completed, anticipated in 2025.

"The announcement of our first European location marks a significant milestone in our global strategy," stated Oscar Gutierrez, President of Freepoint Eco-Systems International. " We are keen to assist the European waste management sector by offering solutions for challenging-to-recycle plastic streams. Our plans highlight our dedication to aiding the petrochemical industry in developing a circular economy and achieving low-carbon feedstock goals."

Freepoint Eco-Systems focuses on creating and managing state-of-the-art plastic recycling facilities across the globe. The Ghent site is the first of several European projects currently in progress.

"The strategic location of North Sea Port aligns perfectly with our business model of developing large-scale circular economy infrastructure with excellent logistics, allowing us to better serve our global customers," said Gutierrez. "We are grateful to North Sea Port and Flanders Investment and Trade for supporting our mission and providing the necessary assistance to launch this project. Our team looks forward to creating a more sustainable future together."

Daan Schalck, CEO of North Sea Port, expressed enthusiasm about hosting such a substantial industrial investment. We actively promote the development of circular chains, where raw materials and products are continually reused. As a port, we have excellent access to future raw materials within our circular valleys. Our position as a versatile multimodal hub for global trade flows ensures the smooth transport of goods via Western European inland waterways, motorways, railways, and pipelines. As pioneers in the circular economy movement, we are excited to partner with Freepoint Eco-Systems on their inaugural advanced recycling facility for plastics in Europe."

Jan Jambon, Minister-President of Flanders, stated, "Plastic waste and its reduction is a global challenge for all countries and regions. Flanders is committed to a greener future where industry and climate coexist harmoniously. The partnership between Freepoint Eco-Systems and North Sea Port is a significant step forward in realizing this vision."

"Flanders Investment & Trade is excited to bring together two pioneering forces in creating a sustainable ecological ecosystem for the future. Hosting one of the world's largest plastic recycling hubs will not only position Flanders as a leader in this field but also contribute to a greener future for everyone," said Joy Donné, CEO of Flanders Investment and Trade.