FedEx Faces Class Action Lawsuit Over Tariff Refunds After Supreme Court Ruling 
Stock Market Movers: Dell, Block, Duolingo, Zscaler, CoreWeave, Autodesk, Rocket, MARA 
Flare, Xaman Roll Out One-Click DeFi Vault for XRP Yield via XRPL Wallets 
Nvidia to Launch New AI Inference Processor to Boost OpenAI Performance 
Asian Markets Slide as Nvidia Earnings, U.S.-Iran Tensions and AI Valuations Weigh on Investor Sentiment 
Trump Media Weighs Truth Social Spin-Off Amid $6B Fusion Energy Pivot 
Samsung Electronics Stock Poised for $1 Trillion Valuation Amid AI and Memory Boom 
Gold Prices Rally in February as Geopolitical Risks and Economic Uncertainty Boost Safe-Haven Demand 
FAA Plans Flight Reductions at Chicago O’Hare as Airlines Ramp Up Summer Schedules 
Bank of Japan Signals Further Interest Rate Hikes as Inflation Trends Toward 2% Target 
Panama Investigates CK Hutchison’s Port Unit After Court Voids Canal Contracts 
Boeing Secures $166.8 Million U.S. Navy Contract for P-8A Engineering and Software Support 
Venezuela Oil Exports to Reach $2 Billion Under U.S.-Led Supply Agreement 
Netflix Stock Jumps 14% After Exiting Warner Bros Deal as Paramount Seals $110 Billion Acquisition 
Trump Warns Iran as Gulf Conflict Disrupts Oil Markets and Global Trade 
Greg Abel’s First Berkshire Hathaway Shareholder Letter Signals Continuity, Caution, and Capital Discipline 
Australian Job Advertisements Hit 16-Month High as Labour Market Stays Resilient 
SK ecoplant, which is formerly known as SK Engineering & Construction (SK E&C), announced on Wednesday that it would start the production of an alternative to steel bars using plastic bottles. The company will first make the glass fiber reinforced polymer (GFRP) bars made from substances extracted from used plastic bottles.
SK ecoplant is calling its new product “KEco-Bar” and as per The Korea Herald, the making of these GFRP bars also reduces carbon emissions by over 50% compared to the common steel bars as its production does not involve the use of scrap iron limestone.
Aside from being able to contribute to the reduction of carbon emissions, the good thing about the new GFRP bars is the fact that they do not get rusty after getting wet with water. This makes it very suitable for the construction of bridges, dams, and marine oil production bases.
In addition, these are said to be two times stronger and 75% lighter than traditional steel bars. These characteristics make the bars easier to transport and work on.
For the innovative GFRP bars, SK ecoplant, in collaboration with C&Y Co. Ltd. and Korea Marine Transport Containers (KMCT), has already filed an application for a patent on their new technology to produce the glass fiber polymer bars.
The three partners are aiming to produce at least 40,000 metric tons of the GFRP bars per year by 2024. There is also a plan to further bolster production through an additional investment to be able to make up to 200,000 tons annually by 2027. The companies will need 300 million recycled polyethylene terephthalate (PET) bottles to make 200,000 tons of the GFRP bars.
“KEco-bar, which is used for construction, is indifferent to color,” an SK ecoplant official said. “Therefore, it is an innovative technology that enhances the recycling rate of plastic bottles since both transparent and colored plastic bottles can be used to make it.”
Finally, Aju Business Daily further quoted SK ecoplant’s eco-solution business unit chief, Jo Jung Shik, as saying on Wednesday, "KEco-bar is a breakthrough technology that can increase the resource circulation rate of PET bottles because it is not limited to colors due to the nature of construction materials."
