MOL Group has signed a strategic cooperation agreement with German recycling technology company APK, which developed a ground-breaking Newcycling® technology to process a broad variety of mixed plastic waste into high-quality polymers.
At MOL Group, we know that it is important to build a more sustainable future and respond to growing demand for recycled plastic products from our customers. MOL’s new partnership with the German innovative company APK is an important step on our journey to become a regional leader in recycling of plastics. In the new agreement, MOL will support the completion of APK’s Merseburg plant in Germany, which is set to pilot Newcycling®, a solvent-based process which enables the recovery of high-quality materials from complex multi-layer packaging. In the future, together with our partner we would also like to bring this innovative technology to our core region.
Ferenc Horváth, MOL Group’s Downstream EVP, explains MOL’s reasoning behind the decision. “In line with MOL 2030 strategy, we are taking steps to grow our petrochemicals business and enter knowledge intensive industries together with strategic partners. We see a growing demand from our customers for recycled plastics and at the same time we are also fully committed to the idea of circular economy and sustainability. We aspire to become leaders in recycling in Central and Eastern Europe and with today’s agreement we are marking the first milestone on this journey. MOL, as an established polymer player in CEE, together with an innovative partner as APK will work on further developing the Newcycling® technology and bringing it to our core region where the need and the potential for plastic waste recycling is significant.”