REVENTAS AND SABIC COLLABORATION
ReVentas are excited to announce their new strategic partnership with Sabic Ventures.
Scottish innovation start-up ReVentas will take a significant next step in helping to address the plastic waste challenge through a new collaboration with SABIC.
ReVentas, a leading provider of sustainable recycling solutions, will use their expertise to work with SABIC, a global leader in the chemicals industry, using new technology to purify used plastic that could otherwise end up in landfill or be incinerated.
Reventas, has an innovative technology, which has the potential to remove characteristics from used plastic such as colours, odours and additives that can make mechanical recycling more complex. With Reventas’ technology, we aim to take waste plastic and turn it to a “like-new” state, enabling better recycling and allowing the plastic to be used in new applications. This newly discovered technology was able to be explored and developed due to funding received from UK Research and Innovation (UKRI), and administered by Climate Action NGO WRAP, as ReVentas were one of five awarded recipients under the International Circular Plastics Flagship Competition.
Lina Prada, Director, Polymer Application Development & Industry Solutions at SABIC, “The collaboration supports SABIC’s commitment of driving a circular economy for plastics and our target to process 1 million tonnes of our TRUCIRCLE™ solutions annually by year 2030”.
Adding, “Mechanically recycled products have been one of our more sustainable solutions that we offer under our TRUCIRCLE initiative, and we are very happy to start a collaboration with ReVentas and work together to further increase the volumes of used plastics that can be recycled mechanically.”
ReVentas is commissioning a pilot plant and actively engaging with partners across the supply chain to bring their innovative solutions to a wider audience. Through this collaboration, the team will be able to use SABIC’s resources and expertise to bring their product to market with plans for a commercial plant to be running by 2026.
CEO of ReVentas Tom Rose said: “We are delighted to partner with one of the world’s largest petrochemical companies to develop a technology that will help reduce our impact on the climate and our planet.”
“ReVentas is committed to working with SABIC to create a future where we prevent plastic becoming waste, but instead, a valuable resource that can be used to create new products.”
For more information on ReVentas’ technology, please contact Steven Burns – steven@reventas.co.uk.
About SABIC
SABIC is a global diversified chemicals company, headquartered in Riyadh, Saudi Arabia. It company has more than 31,000 employees worldwide and operates in around 50 countries. It manufactures on a global scale in the Middle East, Americas, Europe and Asia Pacific, making distinctly different kinds of products: chemicals, commodity and high-performance plastics, agri-nutrients and metals.
For more information visit www.sabic.com.
SABIC Ventures is the global corporate venturing arm of SABIC, with footprints in North America, Europe and Asia-Pacific. At SABIC Ventures, our goal is to work with globally ambitious start-up companies who have the desire to take business to the next level, to help solve global sustainability-related challenges. SABIC Ventures supports SABIC’s technology goals in the fields of carbon neutrality, circular economy, sustainable agri-nutrients and differentiated materials and process solutions for our customers. We achieve this through collaboration with innovative startups, using venture capital instruments with strategic technical and commercial agreements to accelerate the commercialization of innovative technologies.
