PTT Global Chemical Plc (PTTGC), the petrochemical arm of national oil and gas conglomerate PTT Plc, has announced an investment in UK-based startup Interface Polymers, a developer of chemical additives to improve the recyclability and performance of key polymers.
"This investment opens new horizons for the company, enabling more efficient and sustainable plastic recycling," said Kongkrapan Intarajang, chief executive and president of PTTGC.
Interface Polymers' additives enable compatibilisation between polyethylene (PE) or polypropylene (PP) with different kinds of plastics such as polyethylene terephthalate, often known as PET, nylon, ethylene-vinyl alcohol and other plastics.
This makes it possible to recycle mixed plastics widely used in food packaging chains across the world, solving one of the biggest problems in the recycling process, according to PTTGC.
The unique Polarfin additive technology developed by Interface Polymers, added to PP and PE at very low rates, makes them more recyclable, easier to work with and enables strong surface adhesion to plastics, paints and general adhesives.
"Sustainability is key to business operations. We are committed to using innovative solutions to make our products environmentally friendly," said Mr Kongkrapan.
Plastic is a crucial component in various daily equipment, so applying the circular economy principle to the closed-loop plastic waste management, recycling and upcycling is necessary, he said.
PTTGC made the investment through its startup GC Ventures Co (GCV).
The investment, the value of which was not revealed, is also aimed to strengthen the position of PTTGC-owned Allnex Holding GmbH (Allnex) in performance polymers and plastics circularity in order to simplify the processing and reusability of widely used mixed plastics.
PTTGC acquired Frankfurt-based Allnex from the Advent Group for 148.4 billion baht in 2021 to enter the global coating resin market.
Allnex is a prominent player in the industrial coating segment.
Ross Baglin, chief executive of Interface Polymers, said his company is pleased to have GCV and Allnex as investors and development partners, respectively, and it looks forward to making polymers that can satisfy environmental needs.