Ravago will serve as a strategic partner in supplying pre-processed waste plastic to Alterra Energy's Akron facility
Alterra Energy's Akron facility holds the potential to liquefy up to 60 tonnes of waste plastic per day. (Credit: Ben Kerckx from Pixabay)
Luxembourg-headquartered Ravago has purchased an equity stake in advanced recycling company Alterra Energy for an undisclosed sum.
The latest deal represents the second strategic partnership for Alterra Energy this year.
In January this year, Neste purchased a minority stake in Ravago.
Neste offers renewable diesel and sustainable aviation fuel, as well as drop-in renewable and circular chemical solutions.
Ravago will serve as a strategic partner in supplying pre-processed waste plastic to Alterra Energy’s Akron facility in Ohio, US.
The Akron facility holds the potential to liquefy up to 60 tonnes of waste plastic per day, which can be used to manufacture plastics and chemicals. It can also be used for future commercial installations.
Alterra intends to incorporate its forces with Ravago to offer integrated recycling solutions for supporting the transition toward decarbonisation, minimising virgin fossil resource dependency and boosting circularity for the petrochemical and chemical partners.
Alterra Energy CEO Frederic Schmuck said: “Ravago’s equity investment supports Alterra Energy’s continued efforts to accelerate the adoption of advanced recycling.
“We are pleased to be able to partner with Ravago in offering our petrochemical and chemical clients integrated solutions for hard-to-recycle plastics at the end of their first life.”
Alterra has engineered and commercialised a continuous advanced recycling technology to convert end-of-life plastics into petrochemical feedstock.
The same recycling technology will help process Ravago-supplied waste plastic into ISCC PLUS certified material.
Later, the produced material will be further refined and converted into circular building blocks for the plastics and chemicals producing industry.
Ravago CEO Theo Roussis said: “We have long been at the forefront of mechanical plastics recycling—our collaboration with Alterra Energy adds advanced recycling to strengthen and support these efforts.
“Our ambition in the coming years is to do multiple recycling investments with our key partners to address the problem of plastic waste in a meaningful way.”