Green Group, one of the most important PET recyclers in Europe, announces new investment in Slovakia, worth 12 million EUR. New transaction will upgrade the current PET recycling operations, resulting in a new production line for recycled plastic granules out of PET bottles (rPET) with a total capacity of 8.000 tons/year. rPET granules are the sustainable alternative for the production of food and non-food plastic packaging, having a carbon footprint up to 60% lower than virgin granules, made from petroleum.
New investment follows up on an initial financial operation of 13 million euros in local Ekolumi company that was integrated in 2019 in the Green Group ownership. With the announcement of the new investment and commitments of Green Group in the Slovak region, Ekolumi also finalizes its rebranding process, to be renamed Greentech Slovakia, thus making the final step in the integration under the group’s PET division, Green Tech.
Green Tech is one of the most prominent PET recyclers in Europe, with a processing capacity of 150,000 tons/year of PET waste, with recycling operations in Romania, Slovakia and Lithuania. It is also the first recycling company in Europe certified by Gold Standard, a reputable Swiss organization, to issue voluntary CO2 emission reduction certificates, resulted from recycling operations.
“The new investment is meant to strengthen the presence of Green Tech Slovakia in the region, as it achieves added value through vertical integration of PET recycling operations, up to the production of secondary raw materials. It is a step forward towards achieving a circular economy for plastics in Slovakia.
Under the Green Group umbrella, Green Tech Slovakia benefits from our extensive experience in recycling and we are convinced that our business model will also be a success here. Especially considering the introduction of the deposit return system that is expected to boost the collection of clean PET bottles from the local market,” said Constantin Damov, Green Group Chairman.
Green Tech plays a key role in the circular economy of plastics and in achieving the ambitious objective of the Green Deal, bending the curve towards recovery and integration into new products of PET packaging, at the end of its life cycle. The company provides a gateway for plastic industries to enter the circular economy, while also lowering their CO2 footprint.
“Green Tech enjoys a strong position on the European market, recycling 2 billion PET bottles per year. Our vision is to become the largest PET recycler and producer of recycled products in Europe, while sustainability and circular economy are the key values guiding us. We see municipal waste as a renewable local resource that has to be treated with a local recycling industry, if we want to achieve a closed loop for PET with reduced CO2 impact”, stated Alina Genes, CEO of Green Tech.
Job creation, which is very much needed in the region with the third highest unemployment rate, is also closely linked to the planned investment. “We currently employ 100 people from Banská Bystrica and its surroundings. By 2023 it could be about 50 people more. New technologies will also allow us to process PET bottles in a gentle way, with great sustainability benefits. Our recycling operations help stop unwanted waste being dumped in the landfills or in the nature and deliver plastic products with a much lower carbon footprint than new plastics,” said Michal Figúr, General Manager of Green Tech Slovakia.
With a current processing capacity of 40.000 tons of PET/year, Green Tech Slovakia is currently the largest processor of PET bottles in the country. The first Green Group investment amounted to 13 million euros, aimed at revitalization of the old industrial site of the former cement plant, the construction of a new hall and new technology. The result was a maximum clean and environmentally friendly process of recycling PET bottles into so-called PET flakes, from which 100% recycled Polyester Staple fibers, r-Pet granules or strap are made.
With the increase in efficiency of PET bottle processing, the company’s capacity opportunities are also on an ascending trend. Currently, they are at the level of 40 thousand tons of PET bottles per year, which is 10 thousand tons more than the whole Slovakia produces.
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