15 September 2023
London, UK - Greenback Recycling Technologies (Greenback) and Enval have merged their operations, creating an industry leader in next generation recycling of plastics. The acquisition takes place following the inauguration of its first-of-a-kind recycling plant that uses the Enval technology in Cuautla, México.
The combined company, headed by Philippe von Stauffenberg, CEO of Greenback, brings together the expertise of both companies in the recycling industry, creating a stronger and more competitive entity. It will be able to offer holistic and integrated technology-based, fully circular solutions for the neutralisation of the currently hard-to-recycle post-consumer plastic packaging waste, and also, provide feedstock for new food-grade packaging with recycled content.
"We are thrilled to join forces with Enval. Together, we will be able to offer our customers a wider range of innovative recycling solutions. With Enval’s™ breakthrough microwave-induced technology we transform flexible plastics into pyrolysis oil, π-Oil™, which can be used for recycled content for new food packaging. The process also allows the recycling of another valuable raw material, aluminium, when it is present in multi-layered flexible packaging. This merger is a significant milestone for Greenback and Enval, and we look forward to the opportunities it will bring,” von Stauffenberg states.
Dr. Carlos Ludlow-Palafox, CEO and founder of Enval says: "We are excited to be joining forces with Greenback. For some time, we have been operating closely together on the construction of the plant in Mexico and this merger cements that relationship. It will allow us to expand our reach and accelerate our growth in the recycling industry. By combining Enval's expertise in the chemical recycling sector with Greenback's operational and business development experience, we will prevent many more tonnes of plastics from polluting our landscapes and oceans. We look forward to continuing to work with the Greenback team, now as a single company, to build a more sustainable future for all".
For additional information: Lorena de la Canal Rioseco, Head of Corporate Affairs lorena.delacanal@greenback.earth,
About Greenback Recycling Technologies Ltd Greenback Recycling Technologies is a UK-based advanced recycling company founded in 2018 to bring an immediate solution for the global plastic pollution. With a patented Enval™ microwave-induced recycling process it recycles flexible, multilaminate plastics and turns it to π-Oil™ and recycled aluminium. With eco2Veritas™ digital certification system it tracks the origins of the waste and proves the amount neutralised for brands and CPGs. greenback.earth
About Enval Ltd Enval is a UK-based company that unlocks the potential of high-performance materials using a novel recycling process based on microwave induced pyrolysis. Enval™ specialises in the recycling of flexible packaging, making previously unrecyclable packaging valuable and environmentally responsible. www.enval.com
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