Borealis and BlueAlp Partner to Accelerate Chemical Recycling Initiatives
Borealis and BlueAlp have announced a strategic partnership aimed at advancing chemical recycling. Borealis will transfer its majority stake in Renasci, a chemical recycling firm, to BlueAlp, while acquiring a 10% share in BlueAlp. This collaboration will enable BlueAlp to directly operate and innovate the Renasci plant, accelerating the production of high-quality circular feedstock. The partnership seeks to meet ambitious recycled content targets and prepare for the EU's upcoming Packaging and Packaging Waste Regulation by 2030, enhancing sustainability across the value chain.
Borealis and BlueAlp have formed a significant strategic partnership to bolster the chemical recycling industry. Under the agreement, Borealis will divest its majority share in Renasci, a chemical recycling company based in Ostend, Belgium, to BlueAlp. Concurrently, Borealis will acquire a 10% stake in BlueAlp, signaling its commitment to the company's future growth and scale-up. Renasci, which utilizes BlueAlp's technology, operates a 20 kilotons per annum scale-up plant. BlueAlp's direct operation of this asset is a logical progression, expected to accelerate technology innovation and establish a robust platform for producing high-quality circular feedstock, while strengthening BlueAlp’s licensing proposition.This collaboration is crucial for both companies and their stakeholders across the value chain, particularly in anticipation of the EU's Packaging and Packaging Waste Regulation (PPWR) in 2030. This regulation is expected to drive increased demand for recycled materials suitable for contact-sensitive applications, such as food and cosmetics packaging, which can be derived from chemically recycled feedstock. Valentijn de Neve, BlueAlp CEO, underscored the timely support from Borealis for expanding capacity, leveraging Borealis’s market experience and materials expertise. Stefan Doboczky, Borealis CEO, highlighted that this deepening partnership, by combining assets and technology, will accelerate progress in chemical recycling and enable Borealis to serve its customers with a broader range of polymers based on chemically recycled feedstock, aligning with Borealis’s We4Customers Strategy and sustainability ambitions. Financial details of the transaction remain undisclosed.
