The move will help Borealis to enhance access to chemically recycled feedstock, which will eventually bolster Borcycle C portfolio of virgin-level grade recycled products
Renasci plant in Oostende, Belgium. (Credit: Renasci)
Advanced and circular polyolefin solutions provider Borealis has snapped up a majority stake in Belgium-based recycling solutions provider Renasci, the creator of the Smart Chain Processing (SCP) concept.
The latest deal to purchase a majority stake of 50.01% follows the July 2021 announcement, in which Borealis acquired a 10% share in Renasci. The move aligns with the belief of the Austrian firm in the ability of Renasci’s SCP idea to lead the circular transformation.
The investment is a crucial part of Borealis’ plan to meet its circular goals, which include a six-fold growth in the volume of circular goods and services to 600 kilo-tonnes by 2025 and a rise to 1.8 million tonnes by 2030.
The acquisition will help Borealis achieve these objectives by boosting long-term access to chemically recycled feedstock from Renasci’s Ostend facility and by making essential circular technologies more widely available.
By using its market access, expertise, and technological capabilities, Borealis will expedite the use of the SCP concept and will also study the opportunities for replicating the model in other locations.
Borealis CEO Thomas Gangl said: “With this investment, we mark another milestone on our path to realising our Strategy 2030 goals. Our acquisition of a controlling stake in Renasci has the potential to unlock significant progress on circularity for our entire industry, and is proof of the EverMinds spirit in action.”
The circular polyolefin solutions provider will be able to further expand its Borcycle C range of product offers with the help of the majority interest in Renasci by ensuring the future supply security of chemically recycled feedstock.
To give post-consumer waste made of polyolefins another life, Borcycle C is said to be a portfolio of chemical recycling solutions with ISCC (International Sustainability & Carbon Certification) PLUS-certified content.
Borcycle C solutions, which are chemically identical to goods made from fossil feedstock, are appropriate for all applications, including for the packaging of food and medical supplies.