Luxembourg-based Ravago, a leader in polymer recycling and distribution, has acquired an equity interest in Alterra Energy, headquartered in Akron, Ohio. The companies say they plan to combine forces to provide integrated recycling solutions that support the transition toward decarbonization, decreasing virgin fossil resource dependency and increasing circularity for petrochemical and chemical partners. Additionally, Ravago will be a strategic partner in supplying preprocessed plastic scrap to Alterra Energy's Akron plant.
A spokesperson for the companies says they decline to provide figures on the stake Ravago is taking in Alterra or on the volume of scrap that will be supplied.
Alterra Energy says its Akron plant, which was commissioned last year, can liquefy up to 60 tons per day of mixed plastic scrap for use as a feedstock for the manufacturing of plastics and chemicals.
This is the second strategic partnership this year for Alterra Energy. In January, the company announced that Neste, a provider of renewable diesel and sustainable aviation fuel that also helps deliver 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," says 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 uses pyrolysis to transform end-of-life plastics into petrochemical feedstock, will process the Ravago-supplied plastic scrap 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,” Theo Roussis, CEO at Ravago, says. “We are excited to be collaborating with its leadership team as they provide a vital service in solving the plastics pollution challenge. 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."
Ravago represents more than 6.6 million metric tons of annual polymer sales, serving more than 50,000 active customers through more than 325 locations across more than 55 countries worldwide. Ravago's production capability consists of more than 45 manufacturing facilities, 19 of which are recycling and compounding plants in North America, Europe, Asia and Africa with a combined annual capacity of more than 775,000 metric tons; 13 of which are production plants in Europe that offer finished product solutions for the building sector; and seven of which are chemicals plants and 6 are application laboratories for its chemicals business.