This strategic union is in line with the EU’s proposed new targets for ‘circular polymers’ and industry transformation.
Cologne (Germany) / Milan (Italy), 26 September 2023
GreenDot and Synextra have announced a strategic union in both Italy and Europe to further expand and integrate their knowledge and capabilities in the plastic packaging recycling markets. The collaboration between GreenDot and Synextra will focus on the preparation of materials for chemical recycling and high quality compounds from mechanical recycling processes.
Increased demand for polymers from recycled materials based on new proposed EU targets
GreenDot e Synextra uniscono le loro visioni, competenze ed attività in risposta alla crescente necessità di prodotti riciclati provenienti dal riciclo chimico e da valorizzare con le rispettive materie prime. La crescente domanda di polimeri da materiali riciclati negli imballaggi è guidata dagli obiettivi recentemente proposti dall’UE nell’ambito del regolamento sugli imballaggi e i rifiuti di imballaggio (PPWR). Le due aziende uniranno le loro capacità ed esperienze per sfruttare le sinergie industriali che porteranno a soluzioni e prodotti migliori per le esigenze dell’economia circolare nell’UE e oltre confine.
In accordance with the strategic partnership, Synextra’s shareholder, represented by the Pioneer Point Partners (‘Pioneer’) fund, joins the GreenDot Group. “Together with Synextra, GreenDot intends to continue to close the loop on the valorisation of hard-to-recycle plastic packaging. “Together, we will accelerate the development of our sorting activities and improve the quality of plastic packaging recycling on a large scale,” commented Laurent Auguste, CEO of the GreenDot Group. “GreenDot is implementing its development plan, according to plan, which includes the presence and development of recycling facilities in the main European economies, based on a vertical integration from the preparation of materials for recycling to complete recycling,” continued Auguste.
“Synextra has developed many years of experience in sorting plastic packaging waste, mechanical recycling and the preparation and supply of materials to chemical recycling plants. Synextra currently supplies some of the largest operating plants in Europe on an ongoing basis. The access and integration of this experience and expertise of Synextra within GreenDot allows both companies to accelerate the development of integrated solutions for the circular economy,’ said Fabio Mosca (CEO of Synextra). “We are very proud to be part of the GreenDot team and look forward to seeing further development and growth in plastics recycling with circular solutions,” Mosca continued.
Collaboration in line with major changes in the sector
In line with increasing targets for the use of recycled content in packaging, based on the EU Commission’s proposal for PPWR, the recycling industry is facing a major transformation. GreenDot’s unique approach provides direct access to recyclable material streams through mechanical and chemical recycling on an international scale, making the organisation a major global solutions provider for the circular plastics economy. In this way, the collaboration between GreenDot and Synextra is fully in line with the transformation of Synextra itself, which started five years ago and has since been led by shareholder Pioneer.
The common goal of GreenDot and Synextra is to provide a holistic solution for the recycling of the widest possible range of plastic waste, focusing on those waste streams that cannot be valorised by mechanical recycling. Today, this plastic waste is mostly incinerated or even sent to landfill. The strategic combination of GreenDot and Synextra will make it possible to offer a wide range of mechanical and chemical recycling solutions on an industrial scale to reintroduce plastic waste, currently excluded from the value chain, into the recycling loop. The ecological impact of plastic packaging waste is thus reduced, as recycling prevents the carbon contained in the plastic from being released into the environment.
Foto stampa (© GreenDot, Synextra):