Sector News

Ravago acquires equity interest in leading advanced recycling company Alterra Energy

July 23, 2021
Chemical Value Chain

Ravago and Alterra Energy to Vertically Integrate to Supply Waste Plastic, Liquefaction Technology and Recycled Polymer Solutions Globally.

Alterra Energy, an innovative advanced recycling technology company, and Ravago, a global leader in polymer recycling and distribution, announced that Ravago has acquired an equity interest in Alterra Energy.

Ravago will be a strategic partner in supplying pre-processed waste plastic to Alterra Energy’s Akron, Ohio, facility — which currently has the capacity to liquefy up to 60 tons per day of waste plastic for use as a feedstock for the manufacturing of plastics and chemicals — as well as for future commercial installations. Ravago will be a strategic partner in supplying pre-processed waste plastic to Alterra Energy’s Akron, Ohio, facility.

Alterra Energy and Ravago plan to combine forces to provide integrated recycling solutions that support the transition toward decarbonization, decreasing virgin fossil resource dependency and increasing circularity for its petrochemical and chemical partners.

The Ravago transaction is the second strategic partnership this year for Alterra Energy. In January, Alterra Energy announced that Neste, the world’s leading provider of renewable diesel and sustainable aviation fuel, and an expert in delivering drop-in renewable and circular chemical solutions, acquired a minority stake in the company.

“Ravago’s equity investment supports Alterra Energy’s continued efforts to accelerate the adoption of advanced recycling,” said Frederic Schmuck, CEO of Alterra Energy. “We are pleased to be able to partner with Ravago in offering our petrochemical and chemical clients integrated solutions for hard-to-recycle plastics at the end of their first life.”

Alterra Energy, which has developed and commercialized a continuous advanced recycling technology that transforms end-of-life plastics into petrochemical feedstock, will process the Ravago-supplied waste plastic into ISCC PLUS certified material. Alterra will then market this material for further refining and conversion into circular building blocks for the plastics and chemicals producing industry.

“Alterra Energy is leading the way in the advanced recycling market. We are excited to be collaborating with its leadership team as they provide a vital service in solving the plastics pollution challenge,” said Theo Roussis, CEO at Ravago. “We have long been at the forefront of mechanical plastics recycling—our collaboration with Alterra Energy adds advanced recycling to strengthen and support these efforts. Our ambition in the coming years is to do multiple recycling investments with our key partners to address the problem of plastic waste in a meaningful way.”

About Alterra Energy
Alterra Energy is solving the plastic pollution challenge on a global scale with the development and commercialization of a continuous advanced recycling technology. At its Akron, Ohio plant, the company converts plastic destined for landfills into petrochemical materials that can be further refined into new plastic production and other petrochemical products. Alterra Energy utilizes a scalable, patented, thermochemical liquefaction technology to process and recycle waste plastic, diverting millions of pounds of plastic from landfills. Its team of engineers, experts and partners are driven by one purpose: creating a cleaner planet for future generations. Alterra Energy licenses its technology to entities looking to recycle more challenging plastics or seeking more sustainable products. It is partnering with companies in the solid waste industry, government entities and petrochemical companies.
https://alterraenergy.com/

About Ravago
Ravago, headquartered in Luxembourg, provides superior distribution, resale, compounding and recycling services for our customers, deploying advanced technology solutions to convert plastic raw materials into products that improve the sustainable quality of our life. Ravago represents more than 6,600,000 metric tons of annual polymer sales, serving more than 50,000 active customers through 325+ locations across more than 55+ countries worldwide. Ravago’s production capability consists of 45+ manufacturing facilities of which 19 recycling and compounding plants in North AmericaEuropeAsia and Africa with a combined annual capacity of over 775,000 metric tons; 13 production plants in Europe that are offering finished product solutions for the building sector and 7 plants and 6 application laboratories for our chemicals business. This all would not have been possible without the contributions of its 8,000 employees.
https://www.ravago.com/

Source: PR Newswire July, 21, 2021

comments closed

Related News

September 12, 2021

Johnson Matthey announces new Hydrogen Technology business

Chemical Value Chain

The new Hydrogen Technologies business will be headed up by Ralph Calmes, who has been appointed Managing Director Hydrogen Technologies. Ralph, who previously led JM’s Platinum Group Metal Services business, will take up this role effective 1 October with both Eugene McKenna (Green Hydrogen) and Jo Godden (Fuel Cells) reporting directly to him. Ralph will report to Group Chief Executive Robert Macleod.

September 12, 2021

CEO Stefan Doboczky will not extend contract and will step down at end of third quarter 2021

Chemical Value Chain

The Supervisory Board of Lenzing AG, the world’s leading producer of wood-based cellulosic fibers, has come to a mutual agreement with its longstanding Chief Executive Officer Stefan Doboczky to end his contract.

September 12, 2021

Europe’s plastics industry calls for mandatory EU recycled content target for plastics packaging of 30% by 2030

Chemical Value Chain

PlasticsEurope says that Europe’s plastics producers support the European Commission’s previously announced proposal for a mandatory EU recycled content target for plastics packaging, as defined in the Commission’s Packaging and Packaging Waste Directive (PPWD). This target should be 30% for plastics packaging by 2030, PlasticsEurope says.

Send this to a friend