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Borealis, one of the world's leading suppliers of advanced and circular polyolefin solutions and European market leader in base chemicals and fertilisers, announces the acquisition of a minority stake in Bockatech. The UK-based green tech company is in the growth phase and is the inventor of the innovative EcoCore manufacturing technology platform for sustainable packaging.
The investment deepens the existing partnership between the two companies and emphasises Borealis' commitment to the circular economy of plastics. The move includes a long-term Joint market and material development and the scaling of the EcoCore platform itself. The aim is to enable a larger number of global customers, value chain partners and supply chain players to benefit from a wider range of lighter foam-based applications in the packaging sector.
Synergy effects to promote the circulation of plastics
Borealis and Bockatech are leading the transition to the recyclability of plastics. The collaboration began in 2016 with the development of a foam injection moulding solution for reusable and recyclable packaging. The partnership has already got off to a successful start with the „Close the Loop“ pilot project at the Borealis sites in Belgium. Here, over one Million disposable drinking cups replaced by 30,000 EcoCore lightweight cups, which can be collected and washed for reuse and finally recycled.
Thousands of these more environmentally friendly cups were also on show at the recent COP26 in Glasgow. where they were used for publicly catered events. The conference venue ordered 70,000 reusable cups for this and future events.
While the collaboration will continue to focus on reusable coffee cups, Further applications are planned for technology licensing, including more sustainable reusable packaging and lightweight disposable solutions. Applications in non-packaging product areas are also being considered as the EcoCore technology is further developed and scaled up.
Sustainable expansion of the product range
„We are proud and excited to deepen our partnership with Bockatech. This is a positive demonstration of our EverMinds approach and our commitment to collaboration and innovation to achieve circularity in plastics. We look forward to becoming a offer an exciting range of lighter and easily recyclable solutions, that facilitate the transition from single-use to reuse. This is the right path to a more sustainable life.“
Lucrèce Foufopoulos, Borealis Executive Vice President Polyolefins, Circular Economy Solutions and Innovation & Technology
One aim of the in-depth collaboration is to develop success stories that exemplify the circular cascade model of Borealis stand. Design for eco-efficiency, reuse and design for recycling are key elements that are integrated in a complementary and cascading manner in order to achieve the recyclability of plastics. The EcoCore technology platform is based on the circular cascade model at all three levels from Borealis.
„Working with Borealis, we have already developed packaging for several leading foodservice and fast-moving consumer goods brands in North America and Europe. This new investment will help us to further advance our EcoCore technology and increase the number of applications. We share with Borealis a long-term vision of sustainability and, like them, want to be a leader in the new plastics economy. Their material expertise combined with our manufacturing technology creates more sustainable solutions with better performance for fabricators, brands and consumers alike.“
Henri Gaskjenn, CEO of Bockatech
Source: Borealis
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