The GreenDot organisation and the Italian recycler Synextra want to work together more closely on plastic waste recycling in the future and have announced a "strategic combination" last week. However, GreenDot, the parent company of Germany's DSD packaging compliance scheme, is not disclosing much information about the deal. The company also declined to comment on specific plans for mechanical or chemical recycling projects for plastic.
A press release issued by the two companies last week simply stated that the partnership would focus on preparing feedstock for chemical recycling and on mechanically recycled compounds. By taking this step, the partners also wanted to meet the growing demand for circular polymers and the use of recycled content in packaging driven by the proposed targets under the future EU Packaging and Packaging Waste Regulation (PPWR).
The two companies want to combine their capacities and expertise to unlock synergies. To this end, Synextra’s shareholder Pioneer Point Partners would join the GreenDot Group, the press release stated. The company did not respond to a request for information about the form in which Pioneer Point Partners would join GreenDot and whether it had acquired shares in the umbrella organisation.
Pioneer Point Partners is an investment firm specialising in the energy and environmental sectors. This corporation became a Synextra shareholder in 2011 when it acquired shares previously held by family members. Synextra operates three plastic recycling plants in Northern Italy in the Milan area with an approved total capacity of 466,000 tonnes per year. The company also recycles waste from the Italian packaging recycling consortia Corepla and Coripet.
Synextra’s CEO, Fabio Mosca, said that the firm was pleased to be part of GreenDot. "Synextra has developed expertise over the past several years in plastic waste sorting, mechanical recycling and supplying feedstock to chemical recycling plants,” he stated. The company was currently supplying some of the largest plants in operation in Europe, he added. "Accessing and integrating this experience and expertise of Synextra within GreenDot enables both companies to accelerate the circular economy development,” Mr Mosca continued. The form that the integration will take remains unclear.
"Together with Synextra, GreenDot is looking forward to continuing closing the loop for difficult to recycle plastics packaging, commented Green Dot CEO Laurent Auguste said. "Jointly, we will accelerate the development of our activities in sorting and improving quality plastics recycling at scale.” This work included being present and developing recycling facilities in Europe’s major economies based on vertical integration from feedstock preparation to recycling. GreenDot did not wish to provide information about specific projects or new plants planned as part of the partnership.