Borealis Finland has received EUR 20 million in funding from Business Finland, a public sector business growth accelerator, to launch the innovative SPIRIT programme “Sustainable Plastics Industry Transformation.” As project leader, Borealis Finland will coordinate research and development efforts among a wide range of existing and new partners.
SPIRIT aims to drive the transformation of the plastics industry in Finland by way of three main activities: the replacement of conventional fossil fuel-based feedstocks with renewably sourced ones; the development of technologies and processes for the mechanical and chemical recycling of plastics; and the decarbonisation of production operations through electrification as well as the use of hydrogen and renewable energy sources.
“Plastic is one of the most versatile materials available, and is an important source of economic growth. Yet as an industry, we must address the issues of dwindling resources on the one hand, and plastic waste on the other,” says Salla Roni-Poranen, Borealis Finland Managing Director. “SPIRIT allows us to maintain our industry leadership as we innovate and collaborate to find alternatives for fossil fuel-based materials and energy supply, and to make plastic recycling even more viable.”
“We welcome the local initiative taken by Borealis Finland in driving change in the Finnish plastics industry,” says Lucrèce Foufopoulos, Borealis Executive Vice President Polyolefins, Circularity and Innovation & Technology. “SPIRIT is another example of how Borealis re-invents for more sustainable living, one region at a time.”
Business Finland is a public sector operator under the Ministry of Employment and the Economy of Finland and was established to attract trade and foreign investment to the country. It provides research, development and innovation (RDI) funding to companies in Finland. Its so-called challenge competitions – in which Borealis Finland successfully took part – invite leading international companies to submit solutions which address pressing future challenges. The most recent competition challenge took place in 2021 and was funded primarily through the EU’s recovery fund.
Media Contacts:
| Borealis Finland: Heli Poikonen Communication Expert tel.: +358 50 3794 119 (Porvoo, Finland) email: heli.poikonen@borealisgroup.com | Borealis Group: Virginia Wieser Senior Manager, Corporate Communications, Brand & Reputation tel.: +43 1 22 400 772 (Vienna, Austria) e-mail: Virginia.Wieser@borealisgroup.com |
About Borealis
Borealis is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers and the mechanical recycling of plastics. We leverage our polymers expertise and decades of experience to offer value adding, innovative and circular material solutions for key industries. In re-inventing for more sustainable living, we build on our commitment to safety, our people and excellence as we accelerate the transformation to a circular economy and expand our geographical footprint.
With head offices in Vienna, Austria, Borealis employs 6,900 employees and operates in over 120 countries. In 2020, Borealis generated EUR 6.8 billion in sales revenue and a net profit of EUR 589 million. OMV, the Austria-based international oil and gas company, owns 75% of Borealis, while the remaining 25% is owned by a holding company of the Abu-Dhabi based Mubadala. We supply services and products to customers around the globe through Borealis and two important joint ventures: Borouge (with the Abu Dhabi National Oil Company, or ADNOC, based in UAE); and Baystar™ (with TotalEnergies, based in the US).
About Borealis in Finland
Borealis’ production facility in Porvoo is a fully integrated petrochemical complex comprising an Innovation Centre and six production plants: a cracker for the production of olefins (ethylene, propylene and butadiene), a phenol and aromatics plant, two plants for polyethylene PE (one is a Borstar® plant), a polypropylene (PP) and a compounding unit. The main applications produced are pipe, packaging and cable products. Borealis’ innovation centre in Porvoo focuses on catalyst and process research and includes catalyst scale-up facilities and fully integrated Borstar PE and PP semi-commercial pilot plant lines. Borealis in Finland employs around 900 employees.
Further information:
www.borealisgroup.com
www.borealiseverminds.com
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