NEWS ECP acquires UK-based Biffa


Energy transition-focused investor ECP has completed the acquisition of UK-based integrated waste and recycling firm Biffa in a £2.1 bn ($2.5 bn) enterprise value transaction. Biffa has been at the


forefront of the UK’s waste management industry for over 100 years. The com- pany says it supports the entire waste management process from recycling, treatment and energy generation to collection, disposal and surplus redistribution. “The closing of the


transaction marks an important milestone in this exciting next chapter for


Alterra


announces US deal


Alterra has announced a licence arrangement with a subsidiary of Freepoint for a proposed 192,000 tonnes/yr chemical recycling facility to be sited in the US Gulf Coast region. The facility’s output will be ISCC Plus certified and sold exclu- sively to Shell under a supply agreement. Alterra currently


operates an industrial 20,000 tonnes/yr recycling facility in Akron, Ohio and licenses its proprietary technology worldwide. The Freepoint project will be its first licensing transaction in the US. � https://alterraenergy.com


4 Andrew Gilbert, Partner at IMAGE: BIFFA Above: Biffa’s PET recycling facility in Seaham, UK


Biffa,” said Michael Topham, Biffa CEO. “As we continue to invest in our leading position in UK sustainable waste management, leveraging ECP’s deep environmental infrastructure


focused expertise will allow us to accelerate our growth, enhance our capabilities, and continue to change the way our customers, and our economy, thinks about waste.”


ECP, said: “We share the Biffa team’s vision to promote a more sustainable, circular economy, and are excited to partner with the company in its next phase of growth. We are impressed by Biffa’s visionary leader- ship, talented employees and commitment to safety. ECP and Biffa will remain focused on providing the highest levels of service to the company’s customers.” With the completion of


the transaction, Biffa shares have ceased trading and will no longer be listed on the London Stock Exchange. � www.ecpgp.com � www.biffa.co.uk


LG Chem to recycle marine waste


LG Chem has entered into an MOU with South Korean company Netspa to build a resource circulation system by recycling marine wastes. Through the MOU, LG Chem will be able to secure raw materials for its Seokmun National Industrial Park pyrolysis oil plant in Dangjin, Chungnam, which is sched-


uled to begin operations in 2024. After Netspa has sorted and processed the waste, LG Chem will use it to produce recycled plastics. About 45,000 tonnes of marine wastes, such as discarded nets and other fishing equipment, is generated every year in Korea, and collecting and


treating it has long been an issue. Kug Lae Noh president of


LG’s petrochemicals arm, said: “We will further accelerate eco-friendly technologies and business- es for sustainable growth in the future such as marine waste resource circulation.” � www.lgchem.com


RePEaT issues licence in China


RePEaT has signed an agreement to license its chemical recycling technol- ogy for polyester products to Zhejiang Jianxin Jiaren New Materials, making the Chinese company the first in the world to be licensed by RePEaT. RePEaT is a joint venture established by Teijin


PLASTICS RECYCLING WORLD | January/February 2023


Limited, JGC Holdings Corporation, and Itochu Corporation to license recycling technology based on Teijin’s expertise in DMT, JGC’s proficiency in plant construction, and Itochu’s wide-reaching global network spanning diverse industries. The JV will provide a technology that


uses DMT for the chemical decomposition, conversion, and then repolymerisation of PET.


Zhejiang Jianxin will use the technology in a polyes- ter product recycling plant it plans to start up in Shaox- ing, Zhejiang Province, next year. � https://repeat-inc.com


www.plasticsrecyclingworld.com


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