Another Man's Treasures
Forbes Indonesia|September 2020
Another Man's Treasures
Inocycle is making a big business from recycling PET waste.
Robert Yota

According to data from the Environment and Forestry Ministry (KLHK), there were 64 million tonnes of waste in Indonesia last year. Approximately 15% of it was a plastic waste, and 3.2 million were thrown into the ocean. Plastic trash mismanagement is still a prevalent issue in the country. Only 10/15% of plastic waste is recycled, with the remaining 60%-70% piling up in waste disposal sites (TPA) and 15%-30% becoming pollutants to the environment.

Publicly listed PT Inocycle Technology Group is a recycler of polyethylene terephthalate (PET) waste. PET is the most commonly used thermoplastic polymer for fiber, packaging, and bottles. The company currently operates five factories located in Tangerang, Karanganyar, Mojokerto, Salatiga, and Palembang, with a total production capacity of 37,600 tonnes with an average 85.4% utilization rate. Furthermore, the company employs 1,000 workers. Inocycle’s main product is eco-friendly fiber, recycled polyester staple fiber (Re-PSF) produced from PET plastic waste. The fiber is used as fillings for pillows, jackets, dolls, and shoes. In addition, the company also manufactures non-woven products such as padding, needle, punch, geotextile, and thermal bonding that are used as raw materials for bed equipment, cars, garment, and construction. Monocycle also produces homeware products made from Re-PSF, such as pillows, blankets, carpets, quilt, and bed covers. Some of the company’s most notable clients include car brands Toyota, Honda, Mitsubishi, Nissan, and Daihatsu as well as Matahari Department Store, King Koil, and Itochu, to name a few. Inocycle works closely with municipal governments for the collection process.

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September 2020