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By participating as a strategic partner in the company BioBTX, Covestro is enabling the construction of the world’s first innovative demonstration plant for the BioBTX ICCP-Technology in the Netherlands. The technology makes it possible to produce chemicals such as benzene, toluene and xylene from organic and mixed plastic waste. These aromatics are essential building blocks for the chemical industry and are used in plastics production, among other things. Covestro is investing a mid-single-digit million euro amount in the scale-up from the Netherlands. In addition to Covestro, the financial investors Invest-NL and Infinity Recycling are also involved in the project. Once operational, the demonstration plant will convert 20 kilotons of mixed plastic waste per year. Following successful upscaling of the technology over the past years, the demonstration plant is a crucial intermediate step for the technology to be implemented on an industrial scale. The demonstration plant is scheduled to go into operation by early 2027.
Covestro has been cooperating with BioBTX for more than four years and, together with the company, has launched the EU-funded Circular Foam project, which is working on the recycling of rigid polyurethane foam using pyrolysis. The investment in BioBTX is part of Covestro's venture capital program, in which the company invests in young start-ups and scale-ups with innovative products, solutions or business models and thus promotes entrepreneurial activities in and alongside its core business.
