Covestro announced it has become a shareholder in BioBTX, a company based in the Netherlands that recovers raw materials by recycling plastic waste, then used to produce benzene, toluene, and xylene(s) from organic and mixed plastic waste. These chemicals are essential for the chemical industry and are used in coatings, plastics production, and more.

The company is investing in the range of mid-single-digit million Euros to enable the construction of a demonstration plant for the BioBTX ICCP-Technology. Once operational, the plant will convert 20 kilotons of mixed plastic waste per year. The plant is scheduled to go into operation by early 2027.

“Our vision is to fully align with the circular economy and climate neutrality, and we are pursuing all innovative solutions that bring us closer to this goal,” says Thorsten Dreier, CTO of Covestro. “Chemical recycling can make a significant contribution to closing the loop and the BioBTX ICCP technology is a promising way of using waste to recover raw materials that we use in production.”

The partnership with BioBTX also includes two joint development agreements. In the development projects, Covestro is researching further possibilities for recycling its own products and contributing expertise in the field of digitalization to improve plant performance.

In addition to Covestro, the financial investors Invest-NL and Infinity Recycling are also involved in the project.