Dutch chemical company Lyondell Basell and Kirkbi A/S will co-invest in a process that converts packaging waste into plastic granules using a solvent-based separation process.
Lyondell Basell and Kirkbi, a holding and investment company that owns a majority stake in the Lego toy brand, will invest about 130 million Euros (US$139.4 million) in APK AG to increase production of APK’s Newcycling process for low-density polyethylene, Lyondell Basell said on Feb. 8.
The agreement includes the construction of new plants to boost production capacity for the Newcyling technology.
In the Newcycling process, APK takes shredded plastic waste material and dissolves it in a solvent bath before separating the liquid and solid components to purify the polymer and remove the solvent, according to the APK website. The company recovers and reuses the solvent for the Newcycling process.
The agreement builds on continuing efforts in the chemical industry to increase production of recycled plastics. Recent announcements include:
The Newcycling investment will help satisfy demand for sustainable packaging in the consumer market, says Yvonne van der Laan, Lyondell Basell executive vice president, circular and low-carbon solutions.
"We need to advance the recycling of all types of plastic waste material generated today to support the goal of a circular economy and meet the increasing demand for high quality recycled products," she said in a news release. “Advancing this technology, through our investment in APK, will enable more plastic packaging waste to be reintroduced back into the value chain and will address the demand from consumers and brand owners for more sustainable packaging. Products made using this unique Newcycling solvent-based technology will be a great complementary addition to our existing Circulen product portfolio, which currently offers mechanical and advanced recycling solutions to our customers."
