Iterum, formerly known as PET Baltija, has inaugurated a cutting-edge polyethylene terephthalate (PET) recycling plant in Olaine, Latvia. This facility, among the largest in Northern Europe, boasts a planned processing capacity of 80,000 tons annually—approximately 30% more than the company's previous Jelgava site. The total investment for this project exceeds €35 million, with over €10 million allocated specifically to the new factory's development. Aligned with the European Union's Green Deal and climate neutrality objectives, this initiative addresses the increasing importance of waste recycling. While leading EU nations like Germany, Slovenia, Austria, and the Netherlands recycle an average of 65% of their waste, Latvia's rate is below 50%, according to 2022 data from Statista. The Olaine facility spans approximately 30,000 square meters indoors and 40,000 square meters outdoors, making it one of Latvia's largest industrial buildings. It adheres to the BREEAM sustainable construction standards and operates entirely on renewable energy. Innovative wastewater treatment systems have been installed to minimize chemical usage, and an efficient air recuperation system repurposes excess thermal energy from the PET melting process to heat the building. The plant is expected to create over 250 jobs, emphasizing employee well-being and a sustainable work environment. Jūlija Zandersone, Chairwoman of Iterum's Board, highlighted the company's commitment to sustainability and product quality: "Almost 100% of our production is exported, with primary markets including Lithuania, Germany, Finland, Poland, and other regions. Despite Latvia's smaller size compared to other European countries, we are proud to capture up to 5% of the PET processing market share with our high-quality production. The new Iterum factory represents a significant step forward in PET recycling, aiming to further increase our market share." This project was realized with support from the INVL Baltic Sea Growth Fund and collaboration with Latvian industrial park developer SIA Piche. The facility is equipped with advanced technology from Austrian manufacturer Starlinger, making it one of only two European plants with such high-level equipment.