Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, has taken two important steps in response to meet these challenges. Firstly, by working with the plastics industry's trade association, Borealis participated in the creation and launch of the Polyolefin Circular Economy Platform (PCEP), which was launched in October 2016 by three plastics industry organisations: PlasticsEurope, European Plastic Converters and European Plastic Recyclers. For the first time, the platform will create a multi-stakeholder group that will seek to identify the barriers and opportunities to increase Europe's recycling and work towards ensuring the supply of high quality recycled plastics for the European market. The aim is to increase the resource efficiency of plastics, ensure their recovery and prevent any waste leaking into the marine environment. The PCEP will work to a five to ten year time horizon, to deliver effective, science-based solutions.
To support the PCEP's work, Borealis has become the first prime plastics producer to join the New Plastics Economy initiative. This project is led by the Ellen MacArthur Foundation and brings together a broad group of stakeholders, including companies, cities, philanthropists, policymakers, academics, students, NGOs and citizens.
Over the next three years, the initiative intends to redesign the future of plastics, starting with packaging. It will drive collaboration across the value chain, guide innovation to create effective markets, mobilise 'moonshot' innovations, develop robust evidence to inform improvement and engage with stakeholders.
"Borealis is committed to discovering and realising the opportunities presented by the circular economy, so we are pleased to be involved in both the PCEP and the New Plastics Economy," says Alfred Stern, Borealis Executive Vice President Polyolefins and Innovation and Technology. "These initiatives will play an important role in bringing all stakeholders to work together to overcome the barriers to implementing a circular economy and achieve the European Commission's 2025 target."
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Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, the company currently has around 6,500 employees and operates in over 120 countries. Borealis generated EUR 7.7 billion in sales revenue and a net profit of EUR 988 million in 2015. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, the remaining 36% belonging to OMV, an international, integrated oil and gas company based in Vienna. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).
Building on its proprietary Borstar® and Borlink™ technologies and more than 50 years of experience in polyolefins, Borealis and Borouge support key industries with a wide range of applications in the areas of energy, automotive, pipes, consumer products, healthcare, and advanced packaging.
The Borouge 3 plant expansion made Borouge the world's largest integrated polyolefins complex. Now fully ramped up, the additional 2.5 million tonnes of polyolefins capacity yield a total Borouge capacity of 4.5 million tonnes, and a combined Borealis and Borouge capacity of 8 million tonnes.
Borealis offers a wide range of base chemicals, including melamine, phenol, acetone, ethylene, propylene, butadiene and pygas, servicing a wide range of industries. Borealis also creates real value for the agricultural industry, selling approximately 5 million tonnes of fertilizers. Technical nitrogen and melamine products complement the portfolio with applications ranging from mono-nitrogen oxide (NOx) abatement to glues and laminates in the wood working industry.
Borealis and Borouge aim to proactively benefit society by taking on real societal challenges and offering real solutions. Both companies are committed to the principles of Responsible Care®, an initiative to improve safety performance within the chemical industry, and work to solve the world's water and sanitation challenges through product innovation and their Water for the World™ programme.
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Borstar is a registered trademark of the Borealis Group.
Borlink and Water for the World are trademarks of the Borealis Group.