Global layout of recycled economy, burst of FENC's green energy

        Far Eastern New Century Corporation vigorously promotes recycled economy with innovative green products, and its outstanding achievements have won many CSR awards. For example, FENC won the champion for the third time in the 15th “Global Views” "Corporate Social Responsibility Award" last year, and it won eight awards in the 2019 "GCSA TCSA", the green products team also won the "Science and Technology Management Award" issued by the Chinese Society for Management of Science. In addition to the recognition of the awards, the favor and cooperation of a number of international large-scale factories have also accelerated the global layout of Far Eastern New Century Corporation, which has accumulated energy for the increasingly popular recycled economy.

        

        To be the leader of Japanese market abroad

        

        

        

        With the rising awareness of environmental protection, all walks of life pay more and more attention to recycled economy, especially in order to reduce the consumption of oil, many large international beverage factories are increasingly demanding for recycled and biomass raw materials. In view of Japan's recycling industry in the past, due to laws and regulations and industrial development, most of the recycling plants can only process high-quality bottle and bricks as raw materials, and the customer base is mostly low-end film or fiber customers. The capital and technical energy are obviously insufficient, and the bidding is quite fierce. For FENC, which is committed to the development of renewable raw materials, it is a new blue ocean without doubt. Therefore, FENC and Japan ISHIZUKA Glass Co., Ltd. jointly established Far Eastern Ishizuka Green PET Corporation (referred to as Far Eastern Ishizuka) in 2012, taking the lead in adopting advanced technology to deal with various grades of raw materials, and with Far Eastern Group’s support in capital, manpower and technology, it has advantages in raw material procurement and finished product sales, making Far Eastern Ishizuka the leader of PET recycling industry in Japan.

        

        At present, Far Eastern Ishizuka mainly manufactures RPET, with a capacity of 35000 tons in 2019 and an additional capacity of 50000 tons by the end of 2020. It is estimated that in 2021, the capacity of recycling plant will reach 85000 tons. Its customer base includes the top five Japanese beverage factories including Coca Cola, two leading pharmaceutical manufacturers such as Kobayashi and Otsuka, as well as the internationally renowned furniture factory IKEA. Since 7-11, a Japanese retail group, carries out plastic bottle recycling in its 7-11 chain convenience store, about 300 million plastic bottles can be recycled every year. Coca Cola plans to use the recycled plastic to make new bottled drinks and sell them through 7-11. Far Eastern Ishizuka joined the closed loop bottle to bottle project in 2019, which successfully established the company's fame and also led the retail industry to recycle PET bottles. At the same time, 7-11 also hoped to further cooperate with FENC to introduce this business model to Taiwan to expand plastic recycling and reduce plastic waste.

        

        The sales of Far Eastern Ishizuka and FENC are integrated, and long-term supply contracts are signed with major customers to achieve the goal of sound operation; on the other hand, the investment of FENC in Japan is also accompanied by the continuous growth of customers’ demands, hoping to meet the demands of long-term partners and establish various new business models, so that the revenue can reach a new high, and become a model of the green wood business of Far Eastern Group.

        

        Moving forward to the United States to open a new chapter in recycled economy

        

        

        

        When it comes to the west, the United States can be called the leader of the global consumer market. However, due to its vast territory, the recycling system is not perfect, only 11 of the 50 states in the United States implement the recycling system, and the recycling rate of PET in the past decade is only 30%. In recent years, as consumers pay more and more attention to environmental protection, brands, state governments and non-governmental organizations gradually face up to the importance of resource recycling, and promote relevant laws. In addition to promoting the correct concept of recycling, they also actively improve the recycling system. In the trend of global sustainability development, the demand for recycling environmentally-friendly products is growing. Far eastern New Century Corporation has been deeply involved in the U.S. market for a long time. Since 2018, it began local production in the U.S. and acquired the PET plant (APG) in West Virginia, and acquired Phoenix Technologies International, LLC, (Phoenix for short) a recycling plant in the U.S., in 2019, showing the determination of one-stop deep ploughing in the local area. From PET plant to recycling plant, production capacity has been successively started. In addition to production and technical exchanges, Phoenix is APG's renewable polyester raw material supplier, so that APG can produce REPET containing PCR raw materials, i.e. "Single Pellet Solution" which contains PCR in ester pellets. It is convenient for customers to purchase at one time, and can meet the application of different downstream customers, and achieve the synergy of the group.

        Phoenix is not only close to the market, meeting the needs of customers, but also can accurately reflect the changes in the market, providing the latest technology and products. In particular, with the increasing proportion of recycled materials used in plastic packaging materials promoted by the U.S. governments, as the first production base of recycled ester pellets of FENC in the United States, Phoenix will be able to respond to market changes in advance and meet the needs of downstream brands. At present, Phoenix has an annual production capacity of 36000 tons. It mainly cooperates with Coca Cola, Colgate and other international famous beverage and consumer goods manufacturers to provide high-quality recycled polyester granule products in line with the goal of sustainability of brand manufacturers.

        

        Due to the keen demand for green recycling in the United States, FENC focuses on the goal of sustainability of major brands, and the focus on the U.S. market is undoubtedly to further demonstrate the strategic layout and intention of Far Eastern New Century corporation which is committed to environmental sustainability and recycled economy.

        

        Deep ploughing Taiwan, promoting renewable energy to the world

        

        Speaking of Taiwan, as an important part of the global chemical fiber supply chain, the recycling industry technology must be increasingly advanced. In addition, Taiwan has an optimal recycling mechanism in the world. The PET recycling rate is up to 97%. The annual recycling volume of PET bottles is about 100000 metric tons, of which transparent PET bottles account for about 70%. With the high value demand of recycled economy, the existing recycled PET bottle raw materials are gradually unable to meet the expanding demand of chemical fiber industry. The biggest challenge for Taiwan's recycling industry in the future is how to cooperate with beverage brands, reduce the use of colored PET bottles, and reduce the loss of recycled PET bottles.

        

        

        The headquarter of Far Eastern New Century Corporation in Taiwan and the leader of recycling business of FENC changed its name from "Taiwan recycling company" to "Oriental resources development recycling business group", and officially renamed as "Oriental Green Material Company” last year. It is not only Taiwan's oldest PET recycling plant, but also one of Taiwan's main suppliers of PET recycling materials. At present, the annual production capacity is 55000 tons, nearly half of Taiwan's PET bottles can be dealt with. To improve production efficiency and reduce waste output, Oriental Green Material Company continues to optimize production equipment. In 2020, it will invest in the construction of solid waste treatment boilers. In addition to achieving zero delivery of solid waste, the steam generated by boiler combustion can also meet the thermal energy demand of the whole plant, effectively achieving the effect of energy saving and carbon reduction. In addition, it will also synchronously build solar panels, which are expected to be put into operation in March with a power generation capacity of 400KW. In this way, it can increase the application of green power, and deepen the implementation of recycled economy.

        

        Oriental Green Material Company is also an important partner in the supply chain of marine waste recycling materials of Adidas, an international well-known sports brand. It is mainly responsible for processing recycled marine bottles, and then through the vertical integration of chemical fiber of Far Eastern New Century Corporation, Adidas can realize "One Stop Shopping ", successfully transforming waste plastics into ocean recycled yarn, and re-created high-quality shoes, clothing and other textile products to contribute to the marine ecology. According to statistics, since 2016, the ocean recycled yarn product program has successfully intercepted more than 2000 metric tons of marine waste plastics and transformed them into new products, which is an excellent example of cooperation between fashion manufacturing suppliers and brands.

        

        In addition, Oriental Green Material Company and Taoyuan municipal government signed a letter of intent for cooperation in 2019. The waste bottles collected from the beach cleaning activity organized by the Marine Management Office were made to 400 brand-new regenerated jogging clothes for volunteers after being cleaned and granulated by Oriental Green Material Company, which will reduce plastic and save the ocean, and also give the raw materials the opportunity to be recycled.

        

        In the future, Oriental Green Material Company will adhere to the concept of local recycling and giving back to the society, maintain a stable cooperative relationship with major recycling companies in Taiwan, and continuously push Taiwan's high-quality recycled polyester products to the world stage.

        

        In order to create a win-win situation of economy and environmental protection and be internationally compatible, the Taiwan government has announced to promote recycled economy, convert waste into renewable resources, and even listed as one of the key policies of “industrial innovation". Far Eastern New Century Corporation is the leader of environmental protection, continuously developing green products, especially focusing on the innovative development mode of resource recovery and recycling, hoping to realize the vision of complete cycle and zero waste from the industrial side.