With the acquisition of a significant stake in Plasta Rei, Itelyum will become a major producer of chemically recycled PET in Italy, taking a further step towards the circular economy and the valorisation of hazardous waste.
This transaction is perfectly in line with the objectives of the European Green Deal, the Circular Economy Action Plan and the voluntary decarbonisation initiatives promoted by the main companies in the plastics sector.
In Cisterna di Latina (Latina, Italy), Itelyum and Plasta Rei are setting up an advanced plant for the chemical recycling of PET, mainly derived from post-consumer food packaging, to produce 100% recycled PET pellets with a quality comparable to virgin polymer. Thanks to Plasta Rei's innovative technology, rPET will be used in the food packaging industry, enabling a sustainable bottle-to-bottle process.
The chemical recycling process developed by Plasta Rei enables more than 95% of the PET used to be recovered, helping to reduce CO2 emissions compared to non-recycled material. The initiative will provide an attractive economic return on investment and reflects Itelyum's commitment to environmental sustainability and corporate social responsibility (ESG).
Itelyum, a portfolio company of Stirling Square Capital Partners with participation from Deutsche Beteiligungs, combines process chemistry expertise and leverages synergies with the rest of the group at both operational and R&D levels, creating the basis for the growth of a new business.
Marco Codognola, CEO and Managing Director of Itelyum, said:
Itelyum's positioning in the plastics recycling market is our new challenge, which we are tackling, as we do with all our business development activities, aware of our technological capabilities, the solidity of our Group and with the will to pursue sustainable development objectives. We have identified Plasta Rei's entry into the capital of Plasta Rei as a significant opportunity for the Group's growth in the Italian market, with important prospects also outside Italy for further projects.
