ORLEN VC Fund has invested in advanced plastic waste purification technology that enables the reuse of plastics, including in consumer packaging. This innovative solution, developed by the Scottish start-up ReVentas, will help reduce the carbon footprint of plastics and meet growing market demand for high-quality recycled raw materials. The investment by ORLEN VC highlights the importance of decarbonization and the circular economy within the ORLEN 2035 strategy.
“We focus on innovation-driven growth. We actively seek advanced technological solutions that allow us to build lasting competitive advantages and achieve strategic goals. We aspire to transform our operations to become climate-neutral in the future. Therefore, we are effectively implementing circular economy principles and investing in another tech company specializing in plastic recycling. This will help us achieve real business and environmental benefits and comply with EU regulations,” said Ireneusz Fąfara, President of ORLEN.
ReVentas’ patented technology processes the two most commonly used plastics—polyethylene and polypropylene—which account for nearly 50% of the 390 million tons of plastic produced globally each year.
The start-up’s process involves dissolving polymers and then removing impurities such as fillers, dyes, and odors from the resulting solution. This enables the recovery of homogeneous polymers ready for direct use in producing packaging, automotive components, and various consumer products.
The technology operates at low temperatures and pressures, resulting in lower energy consumption and a smaller carbon footprint. Its industrial application could significantly increase the availability of high-purity recycled plastics on the market. Currently, only about 9% of polymers are processed with commercially available technologies worldwide, due to challenges in obtaining quality recyclates from mixed plastic waste.
“EU regulations from 2030 mandate that packaging contain at least 10% recycled materials. However, Europe faces a significant shortage of suitable secondary raw materials for reuse in production. Meeting this requirement will be challenging. We see it as a business opportunity, which we aim to seize through this investment in cutting-edge recycling technology,” said Marek Garniewski, CEO of ORLEN VC.
“The ORLEN VC investment provides not only the capital essential for our growth but also opportunities for collaboration across various areas. We see great potential for our technology in Central Europe. ORLEN, as a regional leader, is an excellent partner who can help accelerate the commercialization of our technology in this market,” said Tom Rose, CEO of ReVentas.
Under ORLEN’s 2035 strategy, the share of renewable and secondary raw materials in petrochemicals within the circular economy will steadily increase. Their supply will be secured through strategic partnerships. ORLEN Group’s recycling capacity is expected to grow from the current 40,000 tons to 250,000 tons within a decade. By 2035, products made from renewable and recycled raw materials will account for 10% of total petrochemical sales.
Since its inception three years ago, ORLEN VC has invested nearly PLN 250 million, building a portfolio of 13 technology companies and two investment funds. Besides ORLEN VC, investors in ReVentas include Beiersdorf Venture Capital, the investment arm of a leading global skincare company, and Scottish Enterprise, the Scottish government agency supporting entrepreneurship.
