Borealis AG (Vienna, Austria) has acquired a majority stake in Renasci N.V., a Belgium-based provider of innovative recycling solutions and the creator of the novel Smart Chain Processing (SCP) concept.
Borealis announced a supply agreement with Renascil Borealis now announces an increase of its investment to acquire a majority stake of 50.01%, signalling on-going confidence in the potential of Renasci’s patented SCP concept to drive the circular transformation. The investment is an important component of Borealis’ strategy to reach its ambitious circular goals, which target a six-fold increase in the volume of circular products and solutions to 600,000 tons by 2025, rising to 1.8 million tons by 2030. The acquisition will support Borealis to reach these goals by providing increasing long-term access to chemically recycled feedstock from Renasci’s Ostend facility and through enabling access to key circular technologies.
SCP is unique because it enables the processing of multiple waste streams using different recycling technologies under one roof, resulting in exceptionally high valorization of waste. Through leveraging its market access, know-how, and innovative technological capabilities, Borealis will accelerate the implementation of the SCP concept and will also explore opportunities for replicating the model in strategic locations.
“We are committed to leading our industry towards a more sustainable future, and this acquisition is pivotal to our success. Renasci and its SCP concept are perfectly aligned to Borealis’ circular cascade model, which sits at the heart of our ambition to become circular in plastic and in carbon,” says Lucrèce Foufopoulos, Borealis Executive Vice President of Polyolefins, Circular Economy Solutions and Innovation & Technology.