After taking a 10% holding in Belgian recycling start-up Renasci (Oostende; www.renasci.be) 18 months ago (see Plasteurope.com of 05.07.2021), Austrian polyolefin manufacturer Borealis (Vienna; www.borealisgroup.com) said it has increased its stake to 50.01%. Financial details of the deal were not disclosed.

By acquiring a majority stake in Renasci, Borealis intends to secure access to chemically recycled raw materials produced in Oostende for its Borcycle C polymers and support its EverMinds circularity platform. The resin maker seeks to raise the volume of circular products sixfold to 600,000 t/y by 2025 and to 1.8 mn t/y by 2030.

The Belgian company holds the patent on its Smart Chain Processing (SCP) recycling process, said to be unique because it allows different waste streams to be processed with different recycling technologies under one roof, Borealis explained. This leads to a high waste recycling rate and a lower carbon footprint.