Eastman Chemical Company EMN recently entered into a long-term supply agreement with Interzero — an innovation leader in plastics recycling with the biggest sorting capacity in Europe — for Eastman Chemical's molecular recycling plant in Normandy, France.Under the deal, Interzero will provide up to 20,000 metric tons annually of hard-to-recycle polyethylene terephthalate (“PET”) household packaging waste for Eastman Chemical's planned molecular recycling facility in France.Eastman Chemical, which is a prominent player in the chemicals space along with Dow Inc. DOW, Celanese Corporation CE and Air Products and Chemicals, Inc. APD, said that its planned molecular recycling plant will become the biggest material-to-material molecular recycling facility in the world. The plant is expected to recycle roughly 160,000 tons of hard-to-recycle polyester waste annually once complete. The project is expected to be online in 2025.This deal marks a key milestone towards Eastman Chemical’s investment in France. The partnership strengthens the complementary nature of mechanical and molecular recycling, Eastman Chemical noted.Chemical recycling is a key element to mechanical recycling to keep more raw materials in the loop and both Eastman Chemical and Interzero are committed to create material circularity.Eastman Chemical's polyester renewal technology offers true circularity for hard-to-recycle plastic waste, which is typically incinerated because it either cannot be mechanically recycled or must be downcycled using existing technology. The technology allows this material to be broken down into its molecular building blocks and then reassembled to become first-quality material while retaining performance. The materials can be made with significantly less greenhouse gas emissions than conventional methods leveraging the technology's inherent efficiencies and the renewable energy sources available in France.Eastman Chemical, in its second-quarter call, stated that it expects to leverage its innovation-driven growth model to deliver above end market growth in the specialty product lines. It also projects to continue raising prices, especially in specialty product lines, in response to persistently high inflation, the company noted.The company continues to expect adjusted earnings per share of $9.50-$10 for 2022. It also anticipates operating cash flow to be around $1.5 billion this year. Special Report: The Top 5 IPOs for Your Portfolio Today, you have a chance to get in on the ground floor of one of the best investment opportunities of the year. As the world continues to benefit from an ever-evolving internet, a handful of innovative tech companies are on the brink of reaping immense rewards - and you can put yourself in a position to cash in. One is set to disrupt the online communication industry. Brilliantly designed for creating online communities, this stock is poised to explode when made public. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity.>>See Zacks’ Hottest IPOs NowWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Air Products and Chemicals, Inc. (APD): Free Stock Analysis Report Dow Inc. (DOW): Free Stock Analysis Report Eastman Chemical Company (EMN): Free Stock Analysis Report Celanese Corporation (CE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research