Polystyvert’s presence in Europe to accelerate its growth strategy

These meetings aim to familiarise value chain partners with the innovative recycling approach of dissolution, integrating purified and safe recycled resin into manufacturing production. Sectors such as the automotive, electronics, packaging, pharmaceutical, and toy manufacturing industries can thus reduce their environmental footprint. Polystyvert's dissolution recycling technology is particularly well suited to styrene plastics, such as polystyrene and ABS, which are often difficult to recycle due to contaminants. Polystyvert's technology has also been recognised by the Basel Convention for its ability to eliminate flame retardants in plastic waste.

In addition, meetings with investors will showcase investment opportunities in the first commercial plant in Montreal, Quebec, capable of processing 11,000 tonnes of polystyrene waste per year.  A consortium has been formed to optimise the management of polystyrene waste across the logistics chain, from collection to recycling, helping to reduce waste sent to landfills and incineration.

"Polystyvert is in an active commercialisation phase. Our dissolution technology is the most advanced on the market. There are great opportunities for partners who want to be sustainability leaders in their industry, or investors looking for mature solutions. We have a portfolio of patented applications in the innovative recycling of plastic waste, ready for deployment today, and with strong short-term growth potential," said Nathalie Morin, President and CEO, Polystyvert

Achievement of a major milestone with recycling of ABS resin to industry specifications

Also, the pilot project for recycling ABS through dissolution, a thermoformed plastic used notably in the automotive, electronics and toy industries, has already reached an important milestone by demonstrating that Polystyvert's technology can produce a recycled resin that meets the specifications of these industries and has successfully passed analyses by an internationally renowned ABS producer. 

“After only nine months in operation, this pilot has demonstrated that our expertise in dissolution recycling, acquired over a decade with polystyrene waste, can be rapidly applied to other plastics, thanks to the know-how of our teams,” added Ms. Morin.

Major challenges despite technological success

Although Polystyvert's technology is the most advanced on the market and ready for commercialisation, a number of major challenges remain. The coming months will be crucial in consolidating the company's leadership position.

“The economic climate is a challenge for all cleantech companies. A first commercial plant is a must to demonstrate the technology at scale. It's our springboard toward selling licenses abroad. That's why we're sending a message today to the governments of Quebec and Canada that they must continue to support us in this final step, so that we can keep ownership of the company in Quebec and Canada, and become an innovative technological champion in the fight against plastic waste and the decarbonisation of industry,” insists Ms. Morin.

Numerous projects ahead

In the coming weeks, Polystyvert will be presenting its dissolution technology at four prestigious conferences in Europe and the US. Also, a rebranding exercise is underway to support the wider application of this technology to other plastics and strengthen its market positioning. In addition, faced with growing demand for certified food-grade recycled plastics, Polystyvert is taking steps to obtain a letter of no objection from the FDA, which will allow recycled materials to be integrated into the food packaging chain.