Borealis, the Austrian chemical giant, is increasing its Belgian presence with a majority stake in Ostend recycling company Renasci. After eighteen months of cooperation, Borealis is increasing its stake in Renasci from 10 to 50.01%. This makes the Austrian chemical giant the main shareholder in the young recycling company in the Ostend inner port.
Borealis has 6,900 employees in 120 countries, including 1,200 in production sites in Kallo, Zwijndrecht and Beringen and a service centre in Mechelen. It is one of the world’s leading suppliers of advanced and circular polyolefins solutions and European market leader in base chemicals, fertilisers and mechanical recycling of plastics.
Renasci is a Flemish company with innovative recycling solutions and the creator of the Smart Chain Processing (SCP) concept. The acquisition gives Borealis access to that circular technology and chemically recycled raw materials from Ostend. Borealis’ ambition is to increase its volume of circular products and solutions sixfold to 600,000 tonnes by 2025, rising further to 1.8 million tonnes by 2030.
Circular cluster Ostend
Renasci combines multiple waste treatment technologies, enabling maximum material and energy recovery. With that process, raw materials from plastic-containing waste streams, such as demolition waste and specific sub-streams from household waste, can be converted back into useful end products. The company launched a pilot plant near the Ostend-Bruges Canal in 2020. Since mid-2022, it has had a processing capacity of 120,000 tonnes per year. No share acquisition price was disclosed.
Attracting companies in the circular economy, is one of the pillars of the Port of Ostend’s strategic policy. In the vicinity of Renasci, investments in recent years have included West Recycle, Canadian AIM Recycling and Top-Mix. Across the canal there is also the large chemical site Proviron (ex-UCB).
This article by Roel Jacobus first appeared in Flows on January 13, 2023.
Photo: Renasci
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