Chemical firm LyondellBasell and KIRKBI (owner of LEGO) have announced they will jointly invest in LDPE recycling technology business APK.
APK aims to increase the recycling of multi-layer flexible packaging materials using its solvent-based recycling technology for LDPE.
This technology, which it calls Newcycling, separates the different polymers from this type of packaging, which produces polymers with a high degree of purity for recycling.
LyondellBasell and KIRKBI will become minority shareholders in APK, and along with others, will invest €130 million (£115 million) in the company.
As a result of the investment, APK plans to build more Newcycling facilities. It currently has a pilot plant in Germany.
KIRKBI head of the circular plastics investment area Damir Hamzic said: “We are happy to announce our investment in APK. KIRKBI believes APK offers a promising scalable technology in LDPE recycling that can help increase the circularity of plastics and minimize plastic waste, to contribute to a more sustainable environment in the future.
“We look forward to providing strategic, financial and commercial support while APK establishes technology that will compliment mechanical and chemical recycling.”
KIRKBI is the Kirk Kristiansen family’s private holding and investment company, which was founded to build a sustainable future for the family ownership of the LEGO brand.