Integrating Circular Economy for PET Plastic at Duke University’s Fuqua School of Business

Abstract

Plastic has become an integral part of our economy as a core material. However, current waste systems are proving insufficient to address the increasing rise of plastic waste, which paired with consumer challenges, has led to a worldwide crisis regarding plastic waste. Premirr Plastics, a North Carolina-based start-up company, has invented a new process to recycle waste PET plastic back to virgin quality monomers, which allows for the continuous reuse of the material – a drastic change from current technology. Premirr is various exploring business models and is interested in creating a small-scale, closed-loop system for individual institutions, such as universities. This paper evaluates part of their proposed plan by testing its feasibility at Duke University's Fuqua School of Business to explore (1) consumer interest, and (2) institutional interest. This study concludes that, while there is strong consumer interest and institutional support at Fuqua, certain barriers make this a challenging business plan. However, due to the plan’s marketing appeal, we recommend launching a pilot as a marketing plan while relying on another business plan as the primary revenue generator.