21. Jun 2021

Clariter recognised with Frost & Sullivan’s 2021 Technology Innovation Leadership award

Clariter recognised with Frost & Sullivan’s 2021 Technology Innovation Leadership award

Clariter, an international clean-tech company, announced today that it won Frost & Sullivan's 2021 Technology Innovation Leadership Award in the European chemical upcycling of plastic waste Industry.

Frost & Sullivan awarded Clariter for its unique position in developing and leveraging new technology that delivers significant customer value. With its innovative climate-neutral and resource-efficient plastic-to-products solution, Clariter was recognized as a standout in its field.

Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research across two domains for each nominated firm: technology leverage and business impact. In 2021 Clariter excelled in all of the criteria in its commitment to innovation and creativity, commercial success, application diversity, and customer acquisition, as well as in the growth potential space.

Clariter specializes in developing a chemical recycling solution (i.e., upcycling process) that addresses the challenge of the plastic waste epidemic. According to Frost & Sullivan's report, Clariter's commitment to disruptive clean technology has advanced beyond most participants in the recycling value chain. Unlike other companies with commercially available technologies, Clariter cleans the planet by accepting most waste plastics, even hard-to-recycle, problematic, and mixed streams. Moreover, the company's patented upcycling technology involves a chemical process that allows for the dynamic control of every parameter, including process temperature, sensitivity to feedstock contamination, and the polymer breakdown level. As a result, the company ensures the highest product quality output, compared to complementary technologies, such as mechanical recycling, pyrolysis, catalytic cracking, and solvent-based recycling.

Frost & Sullivan's report further indicates that compared to other waste treatment routes for polyolefins, Clariter's upcycling process shows significant benefits. The company's unique technology has achieved a net negative carbon footprint, meaning it does not add to but rather depletes carbon from the planet. Currently, no other recycling technology can really clean the planet, as opposed to simply reducing pollution. Moreover, the benefits of Clariter's upcycling technology supersede commonly used processes that can prolong the life of plastics, such as pyrolysis. The company transforms plastics into high-value, pure industrial products, which are then used "as-is" as ingredients for a multitude of consumer end-products, such as paints, cleaners, inks, greases, polishes, and candles.

Darrell Huntsman, Chief Executive Officer at Frost & Sullivan, said, "Frost & Sullivan identifies companies that consistently develop new growth strategies based on a visionary understanding of the future and, thus, more effectively address new challenges and opportunities. This approach involves deep strategic deliberation around best practices and the development of core analytics across the entire value chain of specific products and services. Against the backdrop of these analytics, Frost & Sullivan recognizes Clariter for its valuable achievement.

Moreover, this recognition is the result of many individuals (e.g., employees, customers, partners, and investors) making critical decisions every single day to support the organization and meaningfully contribute to its future. Frost & Sullivan enthusiastically acknowledges and celebrates their contributions. Congratulations on your accomplishments, and we wish you great success in the future."

Frost & Sullivan recognizes the usefulness of Clariter's proprietary technology across a range of applications and its ability to aid end users in becoming more self-sufficient and less carbon intensive. The company has a superior strategy of in-house research and development (R&D) to support fossil fuel-free manufacturing, create environmentally friendly products, and offer robust support to suppliers and service providers, compared to other commercially available recycling technology providers. Frost & Sullivan research finds that, unlike other technology providers that convert plastic to plastic or plastic to energy or fuel, Clariter is the only technology developer that offers a climate-neutral and resource-efficient plastic-to-product solution.

Ran J. Sharon, Clariter CEO, said, "Congratulations to the entire Clariter Family on our well-deserved success! We would like to thank Frost & Sullivan for recognizing us as one of the industry leaders. Firmly believing that Clariter heralds the future of green petrochemical manufacturing, we accept this tremendous award, with not only pride but also a sense of responsibility."

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