LyondellBasell, Chevron Phillips Chemical and Infinity Recycling are investing an undisclosed amount in the US company Alterra Energy.
 

The investments by the two chemical companies and the growth capital provider are intended to drive the expansion of Alterra's pyrolysis process for plastic waste, according to a joint statement. According to Alterra, a recycling technology provider based in Akron, Ohio, “significant funds” are flowing after the successful completion of the latest round of financing. Alterra's plant uses a thermal liquefaction process to break down plastic polymers into their molecular building blocks, which in turn can be used as feedstock for other plastics. Other investors in the company include the Finnish raw materials supplier Neste, the energy plant constructor Technip Energies and the private investor Potenza Capital. The aim of the investments is said to accelerate the global application of Alterra's recycling technology.
 
Fred Schmuck, CEO of Alterra, explains the significance of the investment: “This financing represents a crucial milestone. With the support of our partners, we will scale our recycling solutions worldwide and thus make a positive contribution to the environment.” Representatives of investors Lyondell Basell and Chevron Phillips Chemical also expressed their support. Martino Gabellich of Lyondell Basell emphasized that the investment underscored his company's commitment to efficiently recycling plastic waste and thus promoting a circular economy. Benny Mermans of Chevron Phillips Chemical added that the investment in Alterra supports the company's sustainability goals of minimizing plastic waste worldwide.
 
Sources:

• Press release LyondellBasell (22.10.2024)
• Press release Alterra (30.10.2024)
• Press release Neste (4.11.2024)
• Photo: © Alterra Energy