Eastman announced it has achieved on-spec initial production and is generating revenue from its new molecular recycling facility in Kingsport, Tennessee. “The company expects to ramp up production of the new facility over the coming months and enable growth across a wide range of markets. Achieving this critical milestone enables the company’s pathway to deliver approximately $75 million of incremental EBITDA in 2024 from this facility as it builds momentum in its circular economy platform,” the company stated. In addition to this recently completed facility in Kingsport, Eastman plans to invest in two additional molecular recycling plants, one in France and another U.S. site, the company added. “We are thankful for the hard work and dedication of our Eastman team members who have worked tirelessly to build and bring this new facility online. By demonstrating molecular recycling at this scale, we have solidified our position as a leader in the creation of a circular economy. Demand for recycled material at virgin-quality levels from our new facility remains strong, and we are excited to announce this significant next milestone in our journey,” said Mark Costa, Board Chair and CEO.
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