Technology group Heraeus Holding GMBH, a Germany-based family-owned portfolio company with roots going back to the seventeenth century, has announced that it has acquired a majority stake in perPETual Technologies, a leading PET recycling company based in Kleinostheim, Germany.
The company also announced that perPETual Technologies would be renamed revalyu Resources GmbH. The reasosn for the the name change is to drive global expansion under one brand, said Heraeus.
Founded in 2007, revalyu Resources built and commercialised in Nashik, India the world’s first chemical full glycolysis recycling plant.
Based on the company’s proprietary depolymerisation technology, the process first converts post consumer PET bottles into sustainable esters (monomers), the base chemical building blocks for anything polyester materials. These are then filtered to remove all impurities before being re-polymerised. The result is the production of a very pure sustainable PET polymer of a quality equal to PET polymers produced from virgin petrochemicals. The process also uses 91 percent less energy and 75 percent less water than conventional processes for producing PET polymers. It can be used in all PET production processes.
“We are a pioneer in recycling PET bottles. After several years of hard work by the team and support from our shareholders and customers, we have built the world’s most innovative, technology leading and environmentally sustainable PET recycling plant in the world based in Nashik, India,” said Dr. Vivek Tandon, founder of the newly renamed revalyu Resources.
revalyu’s polymer can be used to manufacture high quality sustainable PET products. Today, the company produces filament yarns for the textile industry in its manufacturing facility in Nashik, India. It currently employs around 300 people.
According to Jan Rinnert, Chairman of the Board of Managing Directors and CEO of Heraeus Holding GmbH, the global strength of Heraeus will provide the investment, infrastructure and strategic support needed to accelerate revalyu’s growth.
Heraeus aims to develop the business into one of the world’s largest and technologically advanced PET recycling companies.The aim is to recycle 100 million bottles a day of used PET Bottles by 2026, which will be a big step toward solving the PET waste problem.
“Heraeus will invest a mid three-digit million dollar amount in the next few years in the worldwide development of the infrastructure for recycling PET bottles,” said Till Weber, Senior Manager External Communications at Heraeus.
As a result, said Tandon, revalyu Resources will become the leading global brand for recycling polyester, with customers no longer having to compromise between their ambitious sustainability goals and high quality requirements.
Hereaus features in the FORTUNE Global 500 list. The Group employs some 14,800 employees in 40 countries aand generated revenues of €31.5 billion in financial 2020. Heraeus is one of the top 10 family-owned companies in Germany.