On the evening of November 21st, the award ceremony of the 6th Paulson Sustainability Award, co-sponsored by the Paulson Institute and Tsinghua University, was held in Beijing. Among them, the “Project Double Million: Plastic Waste Recycling and Reprocessing” operated by Kingfa has stood out from more than 100 innovative solutions and won the Recognition of Excellence of 2019 Paulson Sustainability Award. It is the first award-winning material project since the establishment of the Paulson Award. 

The “Project Double Million” of Kingfa uses advanced technology to process plastic waste into environmentally-friendly and high-performance recycled plastic, which is widely used in electronics, textiles, home appliances and automobiles to solve the problem of plastic garbage. With this project, the performance of waste plastics can be equal or close to original resin, which will realize the recycling of waste plastics to new products, thus greatly reducing the production of new plastics. Meanwhile, the project promotes the establishment and improvement of the upstream recycling network, and builds a sustainable circular economy model, which can be replicated globally. The project plans to achieve an annual output of 1 million tons of environmentally-friendly high-performance recycled plastics in 2030, and achieve annual recycling volume of 1 million tons.