(Finance) – NextChem, a subsidiary of Maire Tecnimonthas signed an agreement with Biorenova to acquire, develop and industrialize the proprietary CatC technology, a continuous chemical recycling process for the recovery of monomers (basic components for the plastic value chain) with a high degree of purity from differentiated plastic waste, in particular from polymethylmethacrylate (PMMA, also known as Plexiglas).
NextChem intends to industrialize CatC in the Plexiglas market, and then gradually expand its use to other value-added plastics, being the technology suitable for the depolymerization of polystyrene, a widely used plastic with numerous industrial uses from food packaging to electronics and automotive, among others. Furthermore, further optimization of the technology would allow access to the wider polyolefin market.
NextChem will hold 51% of the capital of the new company (NewCo), owner of the CatC technology. Biorenova will keep the remaining 49%. The closing, subject to the typical conditions of this type of transaction, is scheduled for April 30, 2023. This acquisition is strategically significant as it allows the Group to expand its technology portfolio
and enter new markets.
THE expected revenues from this activity they are expected to grow progressively until reaching a total amount of 30 million euros by 2028. After this period, the turnover is expected to be in the order of around 15-20 million per year.
NextChem, through the Newco, will act as a technology licensor, supplier of high value-added process engineering and critical equipment.
Alessandro Bernini, Chief Executive Officer of the Maire Tecnimont Groupcommented: “With this deal, we are further expanding the technology portfolio of Group in Depolymerization Technologies, following our experience in chemical recycling. We will progressively apply this innovative technology to other value-added markets. This is a further step forward for NextChem’s Circular District model, which integrates technologies for decarbonisation and recycling, leveraging our leadership in the plastic value chain”.