Borealis has announced a new strategic partnership with BlueAlp, a leading chemical recycling technology company based in Eindhoven, the Netherlands. As part of the agreement, Borealis will transfer its majority stake in Renasci—a chemical recycling company located in Ostend, Belgium—to BlueAlp, while simultaneously acquiring a 10% direct stake in BlueAlp to support its long-term growth and scale-up ambitions.
BlueAlp Takes Over Renasci to Accelerate Technological Innovation
Renasci’s 20 kt-per-year chemical recycling plant, designed and engineered using BlueAlp’s proprietary technology, has been one of the few operating chemical recycling facilities in Europe. Until now, BlueAlp has supported the plant’s operations; taking over full operational control represents a natural evolution in its strategy.
This shift will enable BlueAlp to:
- Intensify technology innovation
- Strengthen the licensing proposition for future adopters
- Build a more robust pathway for creating high-quality circular feedstock
Valentijn de Neve, CEO of BlueAlp, said:
“Borealis’ direct support comes at a pivotal moment for the chemical recycling industry. Their market experience and materials know-how will help us scale up and convert more plastic waste into high-quality circular feedstock.”
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Supporting Europe’s Transition Toward Circular Packaging
Partnership Aligns with EU PPWR 2030 Requirements
The collaboration aims to help value chain partners prepare for the EU’s upcoming Packaging and Packaging Waste Regulation (PPWR), which will significantly increase demand for recycled materials suitable for contact-sensitive applications, such as food and cosmetics packaging. Chemical recycling is expected to play a critical role in meeting these requirements.
Borealis CEO Stefan Doboczky stated:
“Deepening our partnership with BlueAlp will speed up progress in chemical recycling. It enhances our ability to support customers with a wider portfolio of polymers based on chemically recycled feedstock. This aligns fully with our We4Customers Strategy and strengthens the innovation focus of the group.”
A Stronger Platform for Circular Solutions
Since investing in Renasci, Borealis has helped establish it as one of Europe’s few functioning chemical recycling plants. With the new agreement, BlueAlp will lead Renasci’s next stage of development, while Borealis focuses on creating market-ready solutions from chemically recycled feedstock.
Both companies expect the partnership to accelerate industry-wide adoption of chemical recycling and contribute to the rapid expansion of circular feedstock capacity needed to meet global sustainability targets.
Financial terms of the transaction were not disclosed.
