MOSCOW (MRC) -- German polymers company Covestro plans to cooperate with environmental services provider Interseroh on the “innovative recycling” of plastic waste, said the company.
Materials manufacturer Covestro and the environmental service provider Interseroh, a company of ALBA Group, intend to cooperate in the field of innovative recycling of plastic waste. This includes resistant plastic products made from Covestro materials, such as polyurethanes and polycarbonates. Therefore, the two partners have recently signed a memorandum of understanding.
For this reason, Interseroh intends to source and prepare the relevant materials derived from the end-of-life products and distribute them to Covestro for re-integration into the raw materials cycle; Covestro intends to use these end-of-life raw materials as feedstock leveraging their reycling expertise to turn plastic waste into high quality raw materials so as to close the loop.
"Our cooperation with Interseroh is an important milestone for the convergence of the chemical and recycling industries with the aim of building new value cycles for the circular economy," says Covestro CEO Dr. Markus Steilemann. "The success of the project will largely depend on our partner's recycling know-how and innovative recycling technologies that we are currently developing, but also on suitable regulatory framework conditions, especially for chemical recycling."
"Technological development and innovation are essential pillars of our work towards a future without waste," states Dr. Axel Schweitzer, CEO of ALBA Group. "In the light of the climate protection targets to be achieved, we must also find sustainable solutions for types of plastic that are difficult to recycle. We are pleased to be able to help shape developments here together with Covestro."
The financial or other details of the Covestro-Interseroh cooperation were not disclosed.
We remind that Covestro closed the sale of its European polycarbonates (PC) sheets business to the Munich-based Serafin Group effective January 2, 2020. This includes key management and sales functions throughout Europe as well as production sites in Belgium and Italy.
As per MRC's ScanPlast, Russia's consumption of PC granules (excluding imports and exports to Belarus) decreased by 14% and reached 62,000 tonnes in January-August 2021 against 72,100 tonnes in the same period of 2020. 13,500 tonnes of PC were consumed for the production of injection moulding products in Russia over the stated period, down by 29% year on year, whereas the last year's figure was 10,500 tonnes.
Interseroh is part of ALBA Group, a Germany-based recycling and environmental services provider.
Covestro (formerly Bayer MaterialScience) is an independent subgroup within Bayer. It was created as part of the restructuring of Bayer AG from the former business group Bayer Polymers, with certain of its activities being spun off to Lanxess AG. Covestro manufactures and develops materials such as coatings, adhesives and sealants, polycarbonates (CDs, DVDs), polyurethanes (automotive seating, insulation for refrigerating appliances) etc. With 2020 sales of EUR 10.7 billion, Covestro has 33 production sites worldwide and employs approximately 16,500 people (calculated as full-time equivalents).
MRC