WASHINGTON (dpa-AFX) - Eastman Chemical Co. (EMN) on Monday announced that
its second U.S. molecular recycling project has been chosen by the Department of
Energy or DOE to enter negotiations for up to $375 million in funding from the
Bipartisan Infrastructure Law and Inflation Reduction Act as part of the
Industrial Demonstrations Program.

The second U.S. molecular recycling facility is at its Longview, Texas location,
and is expected to have the capacity to recycle around 110,000 metric tonnes of
difficult-to-recycle plastic waste.

This investment is projected to create more than 200 permanent, well-compensated
jobs in the Longview community, along with approximately 1,000 temporary
construction jobs.

By utilizing Eastman's next-generation methanolysis technology, this project is
expected to reduce carbon emissions in PET production. The recycled PET is
estimated to have over 70 percent reduced carbon emissions compared to fossil
virgin production, with a total reduction of approximately 90 percent when
factoring in avoided emissions.

Additionally, Eastman secured substantial state and local tax incentives
totaling around $70 million to support the project.



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