Finnish Circular economy company Syklo has bought 100 per cent of the share capital of biocomposite company Elastopoli.
The acquisition reinforces Syklo’s investments in advancing the circular economy in line with its growth strategy. It aims to achieve an even higher degree of circular economy rate and to refine recycled materials into more valuable products.
Elastopoli has developed a pulp-based cellulose biocomposite and has patented its tech worldwide. The technology enables the production of high-quality biocomposites, which can replace technical plastics and glass fibre composites. Recycled cellulose pulp and plastic can be utilised as raw materials for biocomposites, significantly increasing the processing degree of recycled raw materials.
According to Teemu Koskela, managing director of Syklo:
“Elastopoli is a great example of an amazing excellence there is operating in the field of circular economy. They have developed a unique, patented technology that genuinely solves the challenges faced by customers in the plastics industry.
Elastopoli is not merely a research and development company; they already serve large international clients who are eager to purchase more biocomposites than the pilot plant in Sastamala can currently produce.”
The patented technology has been tested and developed in Elastopoli’s pilot plant in Finland for several years. With the acquisition, Syklo has also made an investment decision to develop the pilot plant’s existing production line and increase its production capacity.
The investment will triple the production capacity of the pilot line. After that Syklo plans to build a commercial-scale biocomposite plant in conjunction with Finland’s largest plastic recycling plant in Hyvinkää.
According to Markku Nikkilä, managing director at Elastopoli:
“We have developed and patented a biocomposite production method that transforms recycled fibres into biocomposite with recycled plastic using a wet process, resulting in excellent technical properties for our customers’ biocomposite products.”
This process integrates recycled fibers, recycles process water and waste, and recovers side-stream products like plastic and metal.
Elastopoli Oy will become Syklo Biocomposites Oy as of 1/1/2025.
Lead image: Syklo.
By Tech.eu
Source: Tech.eu