Shell Invests in Waste-to-Chemicals Company
September 09 2021 - 7:15AM
Dow Jones News
By Jaime Llinares Taboada
Royal Dutch Shell PLC said Thursday that it has taken a 21.25%
stake in BlueAlp Holding BV as part of a partnership with the Dutch
plastic waste-to-chemicals technology company.
The Anglo-Dutch energy giant said BlueAlp's technology
transforms tough-to-recycle plastic waste into a feedstock that can
be used to make sustainable chemicals.
As part of the deal, Shell and BlueAlp will build two conversion
units in the Netherlands. They are forecast to convert more than
30,000 metric tons of plastic waste a year when operational in
2023, and will supply the resulting feedstock to Shell's Moerdijk
and Rhineland crackers.
In addition, Shell is exploring the deployment of two further
conversion units in Asia to supply its chemicals facilities in
Singapore.
"The investment will help deliver Shell's ambition to recycle 1
million tons of plastic waste a year in its global chemicals plants
by 2025," the company said.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
September 09, 2021 07:00 ET (11:00 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Shell (LSE:SHEL)
Historical Stock Chart
From Aug 2024 to Sep 2024
Shell (LSE:SHEL)
Historical Stock Chart
From Sep 2023 to Sep 2024