Plastics group Borealis says it has increased its stake in Belgian recycler Renasci.
It acquired a 10 percent stake in Renasci back in July 2021, and now Borealis has expanded its investment to a majority stake of 50.01 percent. Renasci, based in Ostend, Belgium, has developed the so-called Smart Chain Processing (SCP) concept, which is said to enable the processing of different waste streams with various recycling technologies under one roof. This, it says, achieves a particularly high level of waste recovery, resulting in a lower carbon footprint. Borealis intends to further expand this concept and push it in the market. "This investment is the latest milestone on our way to achieving our Strategy 2030 targets," says Thomas Gangl, CEO of Borealis. The group aims to increase the volume of circular products and solutions to 600,000 tons by 2025, rising to 1.8 million tons by 2030. The majority stake in Renasci is said to allow Borealis to further expand its Borcycle C product portfolio, as it would also secure future supplies of chemically recycled raw materials. Borcycle C is a portfolio of chemical recycling solutions from Borealis with certified ingredients based on the mass balance approach, derived from polyolefin-based household waste. Borcycle products are also said to be suitable for applications subject to stringent quality and safety requirements, such as healthcare and food packaging.
- plastverarbeiter.de (Jan. 17, 2023)
- Photo: © Renasci