Austria-based chemicals firm Borealis has invested in green tech firm Bockatech in an eleventh-hour funding wave before the start of the new year.
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Borealis, which specialises in advanced circular polyolefin, remains a European market leader in base chemicals and fertilisers, announced that it has acquired a minority stake in Bockatech Limited, a UK-based growth-stage green tech business and inventor of its EcoCore packaging platform.
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The investment deepens the existing partnership between the two companies and underscores Borealis’ commitment to the circular economy.
The move entails joint market and material development in the long term as well as the scaling of the EcoCore platform itself. The aim is to enable a greater number of global customers, value chain partners, and supply chain players to benefit from a broader range of lighter weight foam-based applications, primarily in the packaging sector.
By intensifying their collaboration, Borealis and Bockatech are accelerating the development of more circular packaging solutions for converters and brand owners in order to meet the demand for low-emission packaging.
Bockatech EcoCore uses optimised polyolefin resins supplied by Borealis to create mouldings that have skin-foam-skin walls with high strength-to-weight ratios and excellent thermal insulation. Because only minimal investment in new equipment is required to produce safe and reliable mouldings using the EcoCore technology, converters can readily move into more sustainable packaging formats for a wide range of sectors.
While collaboration will continue to focus on reusable coffee cups, additional applications for technology licensing are foreseen, including more sustainable reusable packaging types and lightweight single-use solutions. Applications in non-packaging product ranges are also envisioned, as the EcoCore technology is further advanced and scaled up.
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Henri Gaskjenn, Bockatech CEO, commented: “We share with Borealis a long-term vision of sustainability and, like them, aim to be leaders in the new plastics economy. Their material expertise combined with our manufacturing technology is creating more sustainable solutions with better performance for converters, brands, and consumers alike.”
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