LyondellBasell acquires German innovator APK

LyondellBasell (LB) is taking on the troubled recycling specialist APK in a bid to exploit its solvent-based recycling technology for LDPE and to increase recycling rates for flexible plastic waste.

LB says APK’s solvent-based recycling technology is a perfect fit. Before the planned acquisition, it had previously invested in the German company and collaborated to bring the technology to scale. By acquiring APK, LB is securing the future of the company which became insolvent in May 2024. It expects to leverage APK’s expertise for R&D, project engineering and operations.

Complementary

‘We see APK’s solvent-based recycling technology as a vital addition and complementary to our existing and future mechanical and advanced recycling operations,’ says Yvonne van der Laan, evp, circular and low sarbon solutions. ‘This is an important further step toward reaching our goal to produce and market at least two million tonnes of recycled and renewable based polymers annually by 2030.’

‘We are very pleased that we entered into an agreement with LB, securing the future of the company,’ add APK ceo Steve Döring. ‘With its ambition to be a global leader in circular solutions and technologies, LB is a perfect strategic fit that allows investments into growth opportunities ensuring that our unique solvent recycling technology can realise its full potential.’

Closing of the transaction is subject to usual regulatory conditions.

Solvent-based

The core technology is a unique solvent-based kind for LDPE. LB aims to increase the recycling such hard-to-recycle flexible plastic waste materials. The technology separates the different polymers with a high degree of purity suitable for new flexible packaging of, for example, personal care products. The materials produced will be sold under the LB Circulen portfolio.

As a key element of a new strategy, LB formed a dedicated business, Circular & Low Carbon Solutions (CLCS), in March 2023. CLCS has begun making substantial investments in plastic-waste sorting and recycling operations in Europe, the US and Asia.