13 October 2022 - 11:00 CEST | PDF | 221.13 KB
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Repsol accelerates its commitment to polyolefins recycling by becoming Acteco's shareholder
Press Release
13/10/2022 11:00
- Repsol becomes a strategic shareholder of Acteco, the comprehensive waste management and recovery company, to ensure its access to plastic waste and promote the circular economy of its products. The multi-energy company acquires a 27% stake in Acteco, with whom it has collaborated since 2018.
- Repsol thus advances in its goal to promote the use of recycled materials –under its Repsol Reciclex® range– and recycling the equivalent of 20% of its polyolefins production by 2030.
- This investment allows Acteco to face its plastic waste management and recycling growth plan.
- This operation aligns with Repsol's strategic commitment to the circular economy as the axis of its industrial complexes' transformation to manufacture products
Repsol takes a further step in its strategic commitment to the circular economy, becoming a reference shareholder in the Spanish company Acteco, which specializes in the collection, management, recycling, and recovery of waste in Spain, after acquiring a 27% stake.
With this operation, Repsol ensures its access to quality plastic waste to continue developing circular economy tools that put new sustainable materials on the market under its Repsol Reciclex® range, thus satisfying a growing demand and the sustainability commitments acquired with its customers.
Following Repsol's entry, Acteco will double its plastic recycling capacity in five years.
The circular economy is one of Repsol's main transformation axes to achieve net zero emissions by 2050. The company is evolving its industrial complexes to manufacture the essential products that society needs but with a low or zero carbon footprint. Some examples are the manufacture of renewable fuels from waste or the production of 100% circular polymers.
Repsol and Acteco have collaborated since 2018 to promote new circular economy models through the recovery of polymers after their useful life and their reincorporation into new high-added value products in sectors such as automotive, health, construction, and infrastructure or packaging. Furthermore, in 2020, Repsol and Acteco launched a joint project to increase the capacity of the recycled material production plant Acteco owns in Ibi, Alicante (Spain).
According to Jaime Martín Juez, Refining and Chemicals executive director at Repsol: "This new step in the collaboration between the two companies represents an essential boost to achieve Repsol's goal of recycling the equivalent of 20% of its polyolefins production by 2030."
Juan Manuel Erum and Jorge Ramis, Acteco's founding partners, have stated: "We are pleased to welcome Repsol as a partner and as a member of our company's Board of Directors. Repsol is a global multi-energy supplier that will contribute to accelerating our activity with new materials and new markets. Furthermore, Repsol's investment in Acteco's share capital reinforces our position as a leader in the plastic recycling sector and the construction of a circular economy".