Covestro becomes a shareholder in the company BioBTX
By becoming a strategic partner in the company BioBTX, Covestro is enabling the construction of a demonstration plant for a chemical recycling method. The technology will make it possible to recover valuable chemicals from waste.
Covestro is investing a mid-single-digit million euro amount in the scale-up from the Netherlands. In addition to Covestro, the financial investors Invest-NL and Infinity Recycling are also involved in the project. Once operational, the demonstration plant will be able to convert mixed plastic waste in quantities of around 20 tonnes per year. Following the successful upscaling in recent years, the demonstration plant is an important intermediate step before the technology is utilised on an industrial scale.
“Our vision is to fully focus on the circular economy and climate neutrality and we are pursuing all innovative solutions that bring us closer to this goal,” says Thorsten Dreier, CTO of Covestro. “Chemical recycling can make a significant contribution to closing the loop and the BioBTX ICCP technology is a promising way to recover raw materials from waste that we use in production.” Unlike other recycling technologies, this technology is also suitable for mixed waste from different source materials.
