Clariter and H&R Group team up on chemical recycling
Cleantech company Clariter and specialty chemicals firm H&R Group announced a strategic collaboration on February 5, 2024 to explore opportunities around refined recycled hydrocarbons.
The companies aim to optimise the use of recycled plastics by combining Clariter's advanced recycling technology with H&R Group's leading refining expertise.
Each Clariter facility can recycle 60,000 tons of plastic waste annually into 50,000 tons of sustainable oils, waxes and solvents.
Under the agreement, Clariter and H&R Group will conduct joint R&D to expand applications for Clariter's products. They will also enter a long-term deal for H&R Group to purchase and distribute high-quality, fossil fuel alternatives from Clariter.
"Strategic collaborations are critical to successfully transforming industries to more sustainable models," said Ran J. Sharon, founder and CEO of Clariter.
Niels H. Hansen, CEO of H&R Group, said: "As a society, we need to reduce dependence on fossil raw materials. By accessing climate-friendly alternatives through recycling, H&R can offer comparable product qualities to customers while recognising our environmental responsibility."
About H&R Group
H&R Group develops and manufactures specialty hydrocarbon-based products. Traded on the Frankfurt Stock Exchange, H&R offers white oils, petroleum jellies, paraffins, lubricants, plasticizers and more.
Clariter developed a chemical recycling process to transform plastic waste into oils, waxes and solvents that replace fossil-fuel based products. Clariter's technology aims to profitably combat the plastic waste crisis.