Borealis acquires stake in Renasci

Borealis acquires stake in Renasci

07.07.2021

The polyolefin producer is joining the Belgian recycling start-up with a minority stake of ten percent.

 

As recently reported, Borealis has agreed with Ostend, Belgium-based Renasci to take over its entire production of chemically recycled raw materials for use in its own cracker in Porvoo, Finland. Borealis has now announced that the polyolefins and basic chemicals manufacturer has acquired a minority stake of ten percent in the Renasci start-up. Together, the two partners want to further develop and expand the so-called SCP technology. The smart chain processing (SCP) concept involves the recovery of multiple waste streams using different recycling technologies, Euwid reports. Mixed waste of plastics, metals and biomass would be sorted in several stages to first recover plastics for mechanical recycling. Plastics that were not suitable for this would then be processed into pyrolysis oil using chemical recycling.

 

In connection with the agreement to acquire a stake in the company is said to be that Borealis will not only purchase the approximately 20,000 metric tons of chemically recycled raw materials, but also the same amount of mechanically recycled material. The deal is another step towards achieving Borealis' own target of selling around 350,000 metric tons of recycled polyolefins by 2025, the group's CEO Thomas Gangl (pictured) told Kunststoff Information. The Ostend plant, which recently started up, will have a processing capacity of around 120,000 tons of dry household and industrial waste annually, according to the company.

 

Read more: www.borealisgroup.com

 

Sources:

  • KI (5.7.2021)
  • Euwid Recycling and Disposal 27/2021 (6.7.2021)
  • Photo: © Renasci

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