Germany’s group of waste management and recycling companies, Der Grüne Punkt - GreenDot – has a new member based in Italy. Pioneer Point Partners, the shareholder of Synextra, one of the largest material recovering facilities in Europe, has joined the GreenDot Group as part of a strategic collaboration to prepare feedstock for chemical recycling.
The companies said the partnership is a response ‘to a rising need for recyclates from chemical recycling and for its respective feedstock’, driven by the European Union’s proposed targets under the Packaging and Packaging Waste Regulation (PPWR). The EU does not thus far recognise chemical recycling as such, but a growing number of companies are nevertheless investing into chemical recycling in Europe, presumably in anticipation of a change in policy.
“Together with Synextra, GreenDot is looking forward to continuing closing the loop for difficult to recycle plastics packaging,” said GreenDot Group CEO Laurent Auguste. “Jointly, we will accelerate the development of our activities in sorting and improving quality plastics recycling at scale. GreenDot is executing its development plan as planned, which includes being present and developing recycling plants in Europe’s major economies, based on a vertical integration from feedstock preparation to recycling,” he added.
Synextra currently supplies some of the largest chemical recycling plants under operation in Europe. GreenDot, which was acquired by Luxembourg-based Circular Resources last year, operates various plastic recycling companies in Germany, with expertise in both mechanical and chemical recycling. Together, the companies hope to increase the volume of plastic waste feedstock destined for chemical recycling.