Borealis, a global leader in polyolefins, has entered into a strategic agreement with chemical recycling technology provider BlueAlp to enhance its circular economy capabilities. The transaction involves Borealis acquiring a 10% equity stake in BlueAlp while transferring its majority ownership of Renasci, a recycling venture in Ostend, Belgium, to the Dutch technology firm.
Under the new structure, Borealis is set to operate the Renasci plant directly, leveraging its development expertise to maintain one of Europe’s few operational chemical recycling facilities. Meanwhile, the asset transfer and equity injection are designed to strengthen BlueAlp’s licensing proposition and drive the innovation of high-quality circular feedstocks.
Core Transaction Takeaways
- Equity Investment: Borealis acquires a 10% stake in BlueAlp to support growth and scaling.
- Asset Shift: Majority stake in Renasci (Ostend, Belgium) transferred to BlueAlp.
- Production Capacity: The Renasci facility currently operates as a 20kt p.a. (kilotonnes per annum) scale-up plant.
- Regulatory Driver: The partnership is positioned to meet the EU’s Packaging and Packaging Waste Regulation (PPWR), which will mandate increased recycled content in food and cosmetics packaging by 2030.
Strategic Alignment of Borealis and BlueAlp Partnership
The collaboration allows BlueAlp to lead the next phase of development and technological advancement for the Renasci platform. Simultaneously, Borealis will focus on utilizing chemically recycled feedstock to broaden its polymer portfolio, directly supporting its "We4Customers Strategy."
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