Flexible packaging recycling firm Enval has been bought by advanced recycling technologies company Greenback Recycling Technologies.
Both companies are UK-based, but Enval recently opened its first full recycling plant in Mexico.
The combined company will be run by Greenback Recycling Technologies chief executive Philippe von Stauffenberg and will offer a holistic and integrated solution for hard-to-recycle post-consumer plastics.
Philippe von Stauffenberg said: “We are thrilled to join forces with Enval. Together, we will be able to offer our customers a wider range of innovative recycling solutions.
“With Enval’s breakthrough microwave- induced technology we transform flexible plastics into pyrolysis oil, π-Oil, which can be used for recycled content for new food packaging.
“The process also allows the recycling of another valuable raw material, aluminium, when it is present in multi-layered flexible packaging. This merger is a significant milestone for Greenback and Enval, and we look forward to the opportunities it will bring.”
Enval chief executive and founder Carlos Ludlow-Palafox added: “We are excited to be joining forces with Greenback. For some time, we have been operating closely together on the construction of the plant in Mexico and this merger cements that relationship.
“It will allow us to expand our reach and accelerate our growth in the recycling industry. By combining Enval’s expertise in the chemical recycling sector with Greenback’s operational and business development experience, we will prevent many more tonnes of plastics from polluting our landscapes and oceans.
“We look forward to continuing to work with the Greenback team, now as a single company, to build a more sustainable future for all.”