The investment arm of Ingka Group, which owns the most IKEA stores globally, has announced an investment in a plastics recycling company based in China.
Re-mall is a recycler of post-consumer packaging waste, which uses a proprietary technique and process to produce transparent recycled polypropylene (rPP) for use in new products.
The finished materials are used in applications such as storage boxes and containers, tableware, toys, cosmetics packaging and woven textile products.
The latest financing is part of Ingka Investments’ commitment to support the transition towards a circular economy by investing in companies that are developing technology or growing capacity to prevent waste or supply recycled materials.
Lukas Visser, Head of Circular Investments at Ingka Group said: “Re-mall’s strong supplier network and partnerships with leading Chinese food delivery service providers are already allowing them to create impact at scale for the local recycling market.
“By investing in Re-mall, we want to amplify this impact to help address a global plastic waste problem and contribute to the circular economy transition.”
Assembling a greener future: IKEA’s store owner invests in China-based plastics recycler appeared first on Energy Live News.