Borealis has entered a strategic partnership with Dutch chemical recycling technology company BlueAlp, marking a shift in its approach to the chemical recycling value chain. As part of the agreement, Borealis will transfer its majority stake in Belgian chemical recycling firm Renasci to BlueAlp, while acquiring a 10% stake in BlueAlp itself.
Renasci, based in Ostend, Belgium, has implemented BlueAlp’s proprietary technology in a 20 kiloton-per-annum (kt p.a.) scale-up plant. BlueAlp was responsible for engineering, constructing, and supporting the plant’s operations in recent years. Taking over direct operations of the asset is expected to accelerate BlueAlp’s technology development and expand its licensing capabilities.
Borealis initially led the development of Renasci to become one of the few operational chemical recycling facilities in Europe. With BlueAlp assuming control of Renasci’s next development phase, Borealis will continue focusing on developing customer solutions that incorporate chemically recycled feedstock.
“Borealis’ direct support comes at a pivotal moment in the chemical recycling industry, where rapid expansion of capacity is needed to achieve recycled content targets,” said Valentijn de Neve, CEO of BlueAlp. “Their market experience and materials expertise will support our growth and position us well to turn more plastic waste into high-quality circular feedstock.”
The collaboration is also aimed at supporting customers and partners in preparing for the European Union’s Packaging and Packaging Waste Regulation (PPWR), expected to take effect in 2030.
“This transaction is fully in line with Borealis’ strategy,” added Stefan Doboczky, CEO of Borealis.