Clariter and H&R Group Enter Into Strategic Collaboration in the Chemical Recycling arena
Luxembourg and Salzbergen, Germany, February 5th, 2024 – Clariter, a global cleantech pioneer, and H&R Group, a German hydrocarbon-based chemical specialties company engaged in the development, manufacturing, and marketing of oil-based specialty products for numerous industrial applications, today announced their entering into a strategic collaboration. The parties intend to explore various opportunities to jointly develop and reinforce the value proposition of refined, recycled hydrocarbons, to be produced by Clariter’s proprietary technology.
Taking advantage of the synergies created by joining forces, Clariter and H&R will be pursuing the common goal of jointly optimising the utilisation of recycled plastics, combining Clariter’s advanced recycling technology with H&R’s leading refining expertise. Each Clariter facility is designed to recycle 60,000 tons of plastic waste and produce 50,000 tons of high-value, sustainable oils, waxes and solvents per year.
Under the collaboration, Clariter and H&R are currently conducting joint R&D initiatives to expand applications for Clariter’s products. In addition, the companies will enter into a long-term off-take agreement for the purchase and distribution of high-quality alternatives to current fossil fuel-based petrochemicals.
Both companies will also work together to identify opportunities for collaboration to pursue common interests and goals, as well as to benefit from each other’s knowledge, market presence and expertise.
Clariter’s Founder and CEO, Ran J. Sharon, says: “Making a long-lasting impact on sustainability requires a systemic and scalable approach. Strategic collaborations are critical to orchestrating the transformation successfully, which is why we are pleased to join forces with H&R in leading the chemical recycling industry towards a greener path together. We strive to serve as a model to reduce the use of fossil fuel-based products by creating the products relied upon by global customers in a new, sustainable way.”
H&R’s CEO and Chairman of the Executive Board, Niels H. Hansen, adds: ”As a society, we need to reduce our dependence on fossil raw materials. By following the recycling routes, H&R can access climate-friendly alternatives to fossil sources and use them in its existing plants. In one combined step, we offer comparable qualities to our customers and recognize our environmental responsibility. We are therefore successfully reorienting the company toward sustainable solutions.”
About Clariter
Clariter S.A. is a global cleantech company that has developed a chemical recycling process that provides a solution to the plastic waste epidemic. This proprietary, efficient technology transforms plastic waste into high-quality, high-value products: oils, waxes, and solvents that replace fossil-based products. Clariter offers a commercially attractive combination of profitability and sustainability.
About H&R Group
H&R KGaA is a specialty-chemicals company listed on the Frankfurt Stock Exchange’s Prime Standard segment. It develops and manufactures fossil-, biomass-, synthetic- and recycle-based hydrocarbon chemical and pharmaceutical specialty products and produces high-precision plastic parts.
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