Science company Syensqo completed its spin-off from Solvay on Dec. 8, 2023. The speciality firm took over Solvay’s plastics and composites business and expanded into electric vehicles (EV) batteries, green hydrogen, bio-based and circular solutions. It started trading on the Euronext Brussels and Euronext Paris on Dec. 11, 2023.
Following the spin-off, Syensqo has now announced a three-year strategic partnership with the Ellen MacArthur Foundation (EMF) ‘focusing on advancing the circularity and sustainability agenda within the chemical sector’.
The partnership continues Solvay’s collaboration with the EMF. Syensqo will focus on recirculating valuable materials, for example recovery of metals from used EV batteries at a level of purity that enables their re-use in new batteries; extending the longevity of materials; and integration of renewable feedstocks and the development of biodegradable products.
“Currently, over 80% of Syensqo’s innovation pipeline is dedicated to crafting sustainable solutions, and we aim to enhance the adoption of circular practices by committing to increase circular sales by 18% by 2030,” said the company’s CEO Ilham Kadri.
The EMF is a charity committed to creating a circular economy. Members of its network have open discussions with counterparts they’d never normally speak to, including competitors and emerging innovators; share experiences and learn from others who are trying to implement the circular economy; raise their level of ambition by understanding more clearly what's possible, what the opportunities are, and what others are doing.