Heraeus invests for a majority share in leading PET recycler Perpetual Technologies – company to be re-named Revalyu Resources for global expansion
Heraeus Holding GmbH, a global Fortune 500 company, announced it has invested substantial equity to take a majority stake in Perpetual Technologies, a leading PET recycling company. To drive global expansion under one brand, Heraeus decided to rename the company Revalyu Resources GmbH.
Revalyu has developed a depolymerisation technology to recycle post consumer PET bottles into esters (monomers), which is the base chemical building block for anything polyester based. Revalyu’s Polymer can be used to manufacture high quality PET products. Today, the company produces filament yarns for the textile industry in its manufacturing facility in Nashik, India. It currently employs around 300 people.
Jan Rinnert, Chairman of the Board of Managing Directors and CEO of Heraeus Holding GmbH says the global strength of Heraeus will provide the investment, infrastructure and strategic support needed to accelerate Revalyu’s growth. “We aim to develop the business into one of the world’s largest and technologically advanced PET recycling companies”, Rinnert added.
“We are a pioneer in recycling PET bottles. After several years of hard work by the team and support from our shareholders and customers, we have built the world’s most innovative, technology leading and environmentally sustainable PET recycling plant in the world based in Nashik, India” said Dr Vivek Tandon, Founder of perPETual Technologies to be renamed Revalyu Resources.
“Together with Heraeus we will strongly focus on rapidly expanding our production capacity in India and globally. Our aim is to recycle 100 million bottles a day of used PET Bottles by 2026, which will be a big step toward solving the PET waste problem”, stated Vikram Nagargoje, Co-founder and COO.
Revalyu’s technology offers a continuous recycling process, which extracts dirt and impurities efficiently, thereby delivering high purity recycled PET. It also uses 91 per cent less energy and 75 per cent less water than conventional processes for producing PET polymers, says the company. It can be used in all PET production processes.
