Technology group Heraeus Holding GMBH, a Germany-based family-owned portfolio company with roots going back to the seventeenth century, has announced that it has acquired a majority stake in perPETual Technologies, a leading PET recycling company based in Kleinostheim, Germany, said Sustainableplastics.
The company also announced that perPETual Technologies would be renamed revalyu Resources GmbH. The reasons for the the name change is to drive global expansion under one brand, said Heraeus. Founded in 2007, revalyu Resources built and commercialised in Nashik, India the world’s first chemical full glycolysis recycling plant.
Based on the company’s proprietary depolymerisation technology, the process first converts post consumer PET bottles into sustainable esters (monomers), the base chemical building blocks for anything polyester materials. These are then filtered to remove all impurities before being re-polymerised. The result is the production of a very pure sustainable PET polymer of a quality equal to PET polymers produced from virgin petrochemicals. The process also uses 91 percent less energy and 75 percent less water than conventional processes for producing PET polymers. It can be used in all PET production processes.
According to Jan Rinnert, Chairman of the Board of Managing Directors and CEO of Heraeus Holding GmbH, the global strength of Heraeus will provide the investment, infrastructure and strategic support needed to accelerate revalyu’s growth.
Heraeus aims to develop the business into one of the world’s largest and technologically advanced PET recycling companies.The aim is to recycle 100 million bottles a day of used PET Bottles by 2026, which will be a big step toward solving the PET waste problem.
Hereaus features in the FORTUNE Global 500 list. The Group employs some 14,800 employees in 40 countries aand generated revenues of EUR31.5 billion in financial 2020. Heraeus is one of the top 10 family-owned companies in Germany.
As per MRC, Songwon and Heraeus announced that they have signed a co-operation agreement to jointly develop and market high end specialty chemicals for the electronics industry. This new co-operation combines Songwon's strong expertise in R&D and chemical manufacturing with Heraeus' technical capabilities and high reputation in the electronics chemical industry, thereby broadening both companies' access to the global electronics market.
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