A Dutch-based recycling company that converts consumer waste into raw materials for the plastics industry is set for major expansion.

Waste and water management company, SUEZ, and LyondellBasell, a plastics, chemicals and refining firm are taking a 50/50 stake in Quality Circular Polymers (QCP). They plan to scale up the provision of ‘virgin-like secondary raw material’ for the European plastic industry to support its circular economy ambitions.

“Together with LyondellBasell, we aim to speed up the use of circular polymers and industrial manufacturers to reach their environmental targets. This partnership represents a new step in SUEZ plastics strategy in Europe, and it will help to reach our objective to process 600,000 tons of plastic waste in 2020,” said Jean-Marc Boursier, SUEZ Group Deputy CEO for the Recycling and Recovery segment in Europe.

In a joint statement, LyondellBasell CEO Bob Patel and SUEZ CEO Jean-Louis Chaussade added: “As the circular economy increases in prominence and importance, we believe that demand for recycled materials will continue to grow. This acquisition combines LyondellBasell’s European market presence and technical capabilities with SUEZ’s ability to collect and recover waste into new materials. We believe that this new venture will provide a strategic platform for future sustainable growth.”

SUEZ has an impressive resume when it comes to championing the circular economy. In the summer it penned a Memorandum of Understanding (MoU) with Bouygues Construction to help build cities that are smart and circular.