Positive response from Eurostars regarding Nexam Chemical’s rPET project - just over SEK 3.4 million in funding grants to Nexam Chemical.
Eurostars* has approved Nexam Chemical’s rPET (recycled PET) project application. The project will run over 24 months and aims to upgrade recycled PET** with heat-activated crosslinking agents and commercializing the use of upgraded PET material. In addition to Nexam Chemical, two European partners are part of the project. Nexam Chemical’s part of the assigned funding grants from Eurostars and its local government authorities amounts to 375 000 Euro.
The project is based on Nexam Chemical’s crosslinking technology. Nexam Chemical has received news that the rPET project has, by an independent international panel of experts appointed by the Eurostars Secretariat, been ranked so high that it can be financed within the member countries allocated budgets. Nexam Chemical and its two partners will now enter into a consortium agreement and as soon as this is completed, the grants funding will formally approved.
In addition to Nexam Chemical, which is responsible for the management of the project, the project consists of the two partners Armacell Benelux, the world’s leading producer of PET foams, and The European Van Company, a specialized parts producer of sandwich composites to the auto body industry.
“We are happy to announce that our rPET project application received such high rankings by Eurostars. It is further proof of Nexam Chemical’s crosslinking technology and its effects. In this case, it concerns the improvement of performance in recycled PET, with the use of Nexam Chemical’s crosslinkers, for various applications (PET foam, PET injection molding and pressing, etc.). This would enable users to replace virgin PET with recycled PET, which is both cheaper for the user and positive for the environment. That Nexam Chemical receives just over SEK 3.4 million in grants, which is the same thing as reduced costs, over two years is positive.”, says Per Morin, CEO at Nexam Chemical.
The market for engineering polyesters currently amounts to approximately 2 million tons per year. Nexam Chemical works with crosslinkers to polyesters (which in addition to PET, contains PBT) and is currently collaborating with several producers and users of engineering polyesters.
*Eurostars is a joint EU initiative between EUREKA and the EU’s Eighth Framework Programme for Research and Technological Development (Horizon 2020). The purpose is to provide funding for applied research and development with a focus on commercialization for small- and medium-sized enterprises.
**PET (poly-(ethylene terephthalate)) is a plastic that is most known for its use in bottles and advanced packaging (food and pharmaceutical packaging). The plastic is also used for the manufacture of components to e.g. household appliances, the electrical and automobile industry, and the manufacture of foam cores to e.g. composite parts and molded products.
Note: This press release has been translated from Swedish. The Swedish text shall govern for all purposes and prevail in case of any discrepancy with the English version.