”The deepening of the partnership with BlueAlp, combining assets and technology, will accelerate progress in chemical recycling for the industry,” says Stefan Doboczky, Borealis CEO. “It will allow Borealis to accelerate serving our customer base with an ever-broadening range of polymers based on chemically recycled feedstock. This transaction is fully in line with Borealis We4Customers Strategy, helping customers to deliver on their sustainability ambitions, whilst strengthening the innovation and operational focus of the group.”

The financial details of the transaction are not being disclosed.