Belgium – A majority stake in the Belgian recycling business Renasci has been acquired by Borealis.
Borealis already acquired a 10% stake in Renasci in July 2021. The current rate of interest is 50.1 percent. The recycler’s Smart Chain Processing (SCP) approach has caught Borealis’ attention in particular.
The purchase is in line with Borealis’ plan to double the amount of circular goods and solutions to 600 kilotons by 2025 and then boost that amount to 1.8 million tons by 2030. Through the acquisition, Renasci’s Ostend plant’s chemically recycled raw materials and its circular technologies, particularly SCP, are now more readily available to Borealis.
Applying SCP makes it possible to process various waste streams using various recycling methods under one roof. As a result, waste is highly valorized. Borealis intends to hasten the adoption of the SCP idea and investigate options for launching the model in key areas.
By granting greater access to chemically recycled raw materials, the controlling interest in Renasci will assist Borealis in strengthening its chemically recycled product line, Borcycle. The investment made by Borealis has satisfied Renasci.