- Interface Polymers' technology simplifies processing and recycling of plastics
- Investment by the Sustainability Tech Fund strengthens Evonik’s position in sustainable products and recycling processes
- Development partnership with the Coating Additives business line for innovative surface coatings
According to the company’s website press release on March 20, 2023, Evonik has invested in the British company Interface Polymers Ltd. This company’s Polarfin® additives simplify the processing of plastics such as mixtures with polyethylene or polypropylene. At the same time, its technology makes it possible to recycle such plastics, thereby solving one of the biggest problems in the recycling process.
As a specialty chemicals company, Evonik is working on solutions for the circular economy at many levels. Polyethylene and polypropylene are versatile and widely used plastics because of their low weight and durability. However, their poor compatibility with other materials is a drawback. So far, costly and time-consuming surface preparation was the only solution. The unique Polarfin® additive technology developed by Interface Polymers makes such preparation unnecessary. Moreover, it greatly reduces the amount of additives needed. As a result, mixed plastics are easier to recycle.
Bernhard Mohr, head of Venture Capital at Evonik: “Many modern applications would be unthinkable without plastics, but recycling them is still a big challenge. Interface Polymers’ additive technology offers a solution and is an excellent fit with Evonik’s Circular Plastics Program.” The Sustainability Tech Fund launched by Evonik in 2022 is adding Interface Polymers to its investment portfolio. In this way, the Evonik Group is strengthening its technological expertise to realize its sustainability goals.
Ross Baglin, CEO of Interface Polymers, said: “Our Polarfin® additive technology modifies and improves the properties of the world’s most commonly used plastics. It can solve several key environmental challenges with their use today. We are delighted to have a world-class company like Evonik as an investor and development partner, and we look forward to making polymers the best solution for so many human needs”.
In addition to the investment by the Sustainability Tech Fund, Evonik’s Coating Additives business line has agreed to an extensive development partnership with Interface Polymers with the aim of using its technology in paints and coatings. Elias Lacerda, head of Evonik’s Coating Additives business line: “We are impressed by the speed with which Interface Polymers has developed in the past two years. With its help, we want to reduce or even eliminate the intensive pretreatment of surfaces.”
Interface Polymers was established in 2016 to commercialise inventions made in the Department of Chemistry at the University of Warwick in Coventry (UK). A core competency of this company is the use of its Polarfin® technology to make the surface of polyolefins compatible with other materials. Diblock copolymers combine polyethylene and polypropylene with polar materials to improve their compatibility with metals, ceramics, and other plastics. This offers advantages in recycling of mixed plastics, adhesion of paints inks and glues to plastic surfaces, and dispersion of materials within molded plastics.
COMPANY INFORMATION
Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of €18.5 billion and an operating profit (adjusted EBITDA) of €2.49 billion in 2022. Evonik goes far beyond chemistry to create innovative, profitable, and sustainable solutions for customers. About 34,000 employees work together for a common purpose: We want to improve life today and tomorrow.
ABOUT EVONIK VENTURE CAPITAL
With a fund size of €400 million, Evonik Venture Capital (EVC) has made 50 investments since 2012, both direct and fund investments. From its offices in Germany, the USA and China, EVC invests in innovative technologies and business models in the area of Nutrition & Care, Smart Materials and Specialty Additives. The investments also support the digitalization and sustainability strategy of Evonik. The scope ranges from early stage to growth stage with an investment volume of up to €15 million per portfolio company. https://venturing.evonik.com
DISCLAIMER
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.
