Germany-based APK, a company that specialises in a unique solvent-based recycling technology for low-density polyethylene (LDPE), announced on Wednesday, February 8, that it has raised nearly €130M in a fresh round of funding.
The investment came from London-based LyondellBasell, a global leader in the chemical industry, and Denmark’s KIRKBI A/S, the family-owned holding and investment company of the LEGO brand, and other investors.
Working to transform plastics recycling
One of the largest issues of our day is plastic trash. APK says that every year, almost 80 million tonnes of plastic packaging trash are produced worldwide. And only 10 per cent of the resources are currently recovered through recycling. The remainder is burned, buried, or discharged in an uncontrolled manner into the environment.
This is where APK looks to make a difference. Founded in 2008, APK aims to boost the recycling of multi-layer flexible packaging materials, which now account for the bulk of mixed plastic trash coming from the consumer sector.
In order to do this, the company has created a solvent-based Newcycling process, which separates the various polymers of multi-layer packaging materials and generates recycled materials with a high level of purity appropriate for new packaging materials.
Susanne Küppers, Member of the Executive Board of APK and MD of APK NCC, says, “Our Newcycling technology makes it possible to close the loop even with complex waste streams and to produce high-quality LDPE recyclates from mixed plastic waste – highly efficient and offering both economic and ecological advantages.”
“We have been proving for years that this is also possible on an industrial scale at our plant in Merseburg,” adds Küppers.
Capital utilisation
APK says it will use the funds to build additional Newcyling Plants to increase the production capacity.
According to Yvonne van der Laan, LyondellBasell Executive VP, Circular and Low Carbon Solutions, there is a need for acceleration of recycling of all types of plastic waste material.
She says, “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,” adds Van der Laan.
Susanne Küppers says, “We are pleased to now ignite the next stage and are proud to have LyondellBasell and KIRKBI as two strong supporters at our side, who bring a lot of additional expertise, for example in the areas of polymer design and application know-how.”
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