LyondellBasell and Partners Invest in Alterra’s Advanced Recycling Technology

Alterra announced the closing of the first round of its latest equity investment, with investors including Infinity Recycling, LyondellBasell and Chevron Phillips Chemical.

This investment round will accelerate the commercialization of Alterra’s advanced recycling technology, which is designed to transform waste plastics into valuable raw materials for a more sustainable and circular economy.

Infinity Recycling led the round through its Circular Plastics Fund. Alterra also received additional equity investment in the round from Neste and long-term private investor Potenza Capital.

Alterra’s innovative technology transforms waste plastics into valuable resources, reducing reliance on landfills and supporting the transition to a circular economy. With this new funding, the company aims to deploy its solutions globally, strengthening its commitment to sustainable plastics management.

Fred Schmuck, CEO of Alterra, said: "This funding marks a pivotal moment in our journey. We are excited to work with our strategic partners to scale our technology and bring effective recycling solutions to communities around the world. Together, we can have a meaningful impact on the environment and create a more sustainable future."

Arie Hooimeijer, Head of Investments at Infinity Recycling, added: "Investing in Alterra aligns with our mission to support innovative solutions for a circular plastic economy. The advanced recycling technology developed by Alterra not only reduces plastic waste by reusing plastic materials, but also unlocks new economic opportunities. We are excited to be a part of this transformative effort."

“This investment in Alterra reflects our company’s broader sustainability goals, including collaborating on advancing the circular economy around the world,” said Benny Mermans, vice president of sustainability at Chevron Phillips Chemical. “We support the elimination of plastic waste in the environment by sustainably recycling used plastics to create new, valuable products.”