Italian materials supplier Versalis SpA has presented its new strategy on circular economy during the ongoing Plast show in Milan.
The petrochemical arm of Eni unveiled a paper on 30 May setting out its vision and projects for circular economy.
According to Versalis, the new strategy will be based on a “new business model capable of responding effectively to the needs of circularity and resource efficiency.”
“Transformation and the circular economy are key to making a meaningful contribution to tackle global challenges and responding to increasingly demanding market trends in terms of sustainability,” explained the Milan-based supplier.
Among the key pillars of Versalis' circular economy strategy is "the life cycle perspective and eco-design”, whereby the sustainability of products and projects under development is assessed over their entire life cycle.
Additionally, the company will work towards diversifying raw materials through the development of chemical platforms from renewable sources in synergy with traditional production cycles.
As part of the new strategy, the company will also develop technologies to recycle polymers, with as aim to improve collection rates and recycled material quality.