New business turns recycled plastic into building materials
The company using innovative recycling technology to turn trash into treasure.
Launched in 2022, Critical makes products and building materials out of 100% recycled plastic.
Critical Co-founder and Managing Director Rui Peng says the business was set up to meet the growing demand for sustainable, low carbon materials that are durable and aesthetically appealing.
Before the business started trading, Rui and a small team spent several years developing a unique recycling technology that can process any type of used plastic, even if it is contaminated, without using chemicals or additives. That waste is then transformed into panels that come in a range of sizes and thickness.
About half of the $500,000 needed to cover the initial research and development phase came from family and friends. The other 50% came from council and government grants and a venture accelerator which invested $120,000 and provided a 12-week mentor programme. Rui says the programme helped the business define its goals and provided a solid platform when it was ready to seek further investment in its second year of operation.
Critical’s recycled plastic panels are used in retail, commercial and hospitality fitouts for wall linings, displays and countertops. They can also be used to make furniture.
“Architects and designers love the authenticity behind our materials and that we’re providing a healthy product that meets sustainability and Green Star targets.”
The recycled plastic panels are expected to last for more than 20 years and can be recycled again and again. The business offers a buy-back scheme for its products which includes a discount on new panels. This is another benefit that attracts clients, especially those working in the exhibition space where display products often have a short lifespan. As well as used panels, offcuts can also be sent back to Critical and recycled into new panels. Rui estimates a return rate of about 10%.
Critical is investing in more research and development to continually improve technology and efficiency. It is also looking at ways of making its recycling technology available around the world.