Renasci plant in Oostend, Belgium
© Renasci
Vienna, Austria /Eindhoven, the Netherlands; December 16, 2025 – Borealis today announced a strategic partnership with BlueAlp, a leading chemical recycling technology company headquartered in Eindhoven, the Netherlands. The partnership will see Borealis transfer its majority share in Renasci, a chemical recycling company based in Ostend, Belgium, to BlueAlp, while acquiring a 10% share in BlueAlp to support its future growth and scale-up.
Renasci licensed BlueAlp’s technology to create a 20 kt p.a. scale-up plant, which BlueAlp engineered, constructed, and has supported throughout its operation in recent years. Moving from supporting operations to directly operating the asset is a logical next step in BlueAlp’s growth. This will accelerate technology innovation, establish a robust platform for producing high-quality circular feedstock, and further strengthen BlueAlp’s licensing proposition.
Since entering into Renasci, Borealis has led the development to become one of the few operating chemical recycling plants in Europe. Following the agreement, BlueAlp will lead the next phase of development and further advancement of Renasci, while Borealis continues to develop customer solutions based on chemically-recycled feedstock.“Borealis’ direct support comes at a pivotal moment in the chemical recycling industry, where rapid expansion of capacity is needed to achieve recycled content targets. Their market experience and materials expertise will support our growth and position us well to turn more plastic waste into high-quality circular feedstock,” says Valentijn de Neve, BlueAlp CEO.
This collaboration helps Borealis and BlueAlp’s customers and partners across the value chain to prepare for the EU’s upcoming Packaging and Packaging Waste Regulation (PPWR) in 2030, which is expected to increase demand for recycled materials suitable for contact-sensitive applications like food and cosmetics packaging, such as those based on chemically recycled feedstock.
”The deepening of the partnership with BlueAlp, combining assets and technology, will accelerate progress in chemical recycling for the industry,” says Stefan Doboczky, Borealis CEO. “It will allow Borealis to accelerate serving our customer base with an ever-broadening range of polymers based on chemically recycled feedstock. This transaction is fully in line with Borealis We4Customers Strategy, helping customers to deliver on their sustainability ambitions, whilst strengthening the innovation and operational focus of the group.”
The financial details of the transaction are not being disclosed.
END
This Media Release is also available in German and Dutch language.
Renasci plant in Oostend, Belgium
© Renasci
About Borealis
Borealis is one of the world’s leading providers of advanced and sustainable polyolefin solutions. In Europe, Borealis is also an innovative leader in polyolefins recycling and a major producer of base chemicals. We leverage our polymer expertise and decades of experience to offer value-adding, innovative and circular material solutions for key industries such as consumer products, energy, healthcare, infrastructure and mobility.
With customers in over 120 countries and head office in Vienna, Austria, Borealis employs around 6,200 people. In 2024, we generated a net profit of EUR 566 million. OMV, the sustainable chemicals, fuels and energy company with a focus on circular economy solutions, headquartered in Vienna, Austria, owns 75% of our shares. The Abu Dhabi National Oil Company (ADNOC), based in the United Arab Emirates (UAE), owns the remaining 25%.
In re-inventing essentials for sustainable living, we build on our commitment to safety, our people, innovation and technology, and performance excellence. We are accelerating the transformation to a circular economy of polyolefins and expanding our geographical footprint to better serve our customers around the globe. Our operations are augmented by two important joint ventures: Borouge (with ADNOC, headquartered in the UAE); and Baystar™ (with TotalEnergies, based in the US).
www.borealisgroup.com
About BlueAlp
BlueAlp is a leading chemical recycling technology company, with a proven and scalable technology to convert mixed plastic waste into circular base material for the petrochemical industry. Driven by its mission to accelerate plastic recycling, BlueAlp enables the transition toward a truly circular plastics economy. BlueAlp has developed its unique process step by step, starting with its first 3kt plant in Switzerland. Building on this solid foundation, Renasci licensed BlueAlp’s technology to develop and operate a 21kt scale-up facility, demonstrating the robustness and commercial readiness of the process. Today BlueAlp is growing its operations globally, which includes amongst others building the largest pyrolysis plant of Italy together with Italian waste manager RES.
BlueAlp operates through three complementary business models: the development and licensing of proprietary technology; the delivery of detailed engineering and fabrication of chemical recycling plants; and the ownership and operation of chemical recycling facilities. Headquartered in Eindhoven, the Netherlands, BlueAlp employs approximately 100 people (excl Renasci). The company is supported by a strong shareholder base including Borealis, Shell, Rumali, Den Hartog, and Mourik.
www.bluealp.nl
About Renasci
Renasci is a Flemish company active in chemical recycling. Renasci uses waste treatment technologies that allow for maximum material recovery. The process offers a totally new approach to waste processing by converting hard-to-recycle plastic waste streams into usable end products, instead of sending them to landfill. In this way, Renasci contributes to a sustainable solution for the global waste problem.
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