Editorial Information

Trinseo & Indaver Announce Offtake Agreement for Recycled Styrene

Companies pursue long-term business collaboration

BERWYN, Pa, USA - Thursday, September 23, 2021

Trinseo (NYSE: TSE), a global materials solutions provider and manufacturer of plastics and latex binders, and Indaver, a leader in sustainable waste management in Europe, have signed an offtake agreement for recycled styrene (r-styrene).

Under the terms of the agreement, Trinseo will buy a minimum of 50 percent of the r-styrene produced at Indaver for a 10-year period, following startup of the plant planned in 2023.

manufacturing facility

As with its other waste collection processes, Indaver will collect post-consumer polystyrene (PS), such as yogurt pots and single-use packaging, and recycle and produce the r-styrene through a proprietary depolymerization technology at its Antwerp, Belgium site.  The r-styrene will then be sent to Trinseo’s Tessenderlo, Belgium site nearby and will be used to manufacture recycled PS resins for dairy packaging and other applications. Both the r-styrene and r-PS products will be ISCC Plus mass balance certified.

Recycled PS has the exact same properties as PS made with virgin fossil-based material. Because of the simple chemical structure of PS, infinite recycling has become a reality, and its purity makes it an ideal material for food packaging. Trinseo recently launched rPS, STYRON™ CO2RE™ CR55 PS Resins for food contact applications early this year. This particular product has been used to make the first yogurt pot made with a food contact compliant polystyrene recyclate for a leading European yogurt brand, which has been on shelves in France since May 2021.

“We are delighted to have Indaver as our partner,” said Nicolas Joly, Vice President, Plastics & Feedstocks of Trinseo, “Collaboration throughout the value chain will continue to be critical as we look for ways to innovate and provide practical solutions to societal challenges. This long-term offtake agreement demonstrates Trinseo’s commitment to PS recycling and helping to build a circular economy.”

"With our innovative Plastics2chemicals project, Indaver will be able to recycle plastics successfully into base chemicals for the industry.” said Paul De Bruycker, CEO of Indaver "We are thus realizing our ambitions to be a waste management company that plays an essential role in the circular economy. With the long-term offtake agreement signed with Trinseo we obtained one of the cornerstones which will support our 100 mio € investment in a breakthrough chemical recycling plant.”

Trinseo is active in creating innovative circular solutions by partnering with like-minded customers, suppliers, and stakeholders. The company believes circularity is the future and is committed to being part of the process. Indaver is committed to realizing a circular economy as well by creating value from wastes, with a strong focus on the elimination of impurities to guarantee high quality recycled products. Indaver has become a specialist over the last 10 years in reaching those high-quality specifications in its end products by innovative chemical processes. Both companies share a common drive to contribute to a circular economy through technological innovations and they have been exploring a mutually beneficial collaboration for the past three years.

About Trinseo

Trinseo (NYSE: TSE) is a global materials solutions provider and manufacturer of plastics and latex binders with a focus on delivering innovative, sustainable, and value-creating products that are intrinsic to our daily lives. Trinseo is dedicated to making a positive impact on society by partnering with like-minded stakeholders, and supporting the sustainability goals of our customers in a wide range of end-markets including automotive, consumer electronics, appliances, medical devices, packaging, footwear, carpet, paper and board and building and construction. Trinseo had approximately $3.0 billion in net sales in 2020 and has 26 manufacturing sites around the world and approximately 3,800 employees. For more information, please visit: www.trinseo.com.

About Indaver

Indaver is a European player in the waste industry with plants and operations in Belgium, the Netherlands, France, Germany, Portugal, Italy, Ireland and the United Kingdom. Indaver manages and treats industrial and household waste in specialist facilities for the (petro)chemical and pharmaceutical industry, waste collectors and governments. Indaver recovers valuable raw materials and energy from these treated waste streams. By doing so, Indaver is creating value from waste and helping to close the materials loop in a safe, low carbon and energy-efficient manner, which makes Indaver the ideal partner in the pursuit of a sustainable circular economy. In 2020, Indaver achieved a turnover of 600 million euros with approximately 1,900 staff throughout Europe. 

More information: www.indaver.com.

Cautionary Note on Forward-Looking Statements

This press release may contain forward-looking statements including, without limitation, statements concerning plans, objectives, goals, projections, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts or guarantees or assurances of future performance. Forward-looking statements may be identified by the use of words like "expect," "anticipate," "intend," "forecast," "outlook," "will," "may," "might," "see," "tend," "assume," "potential," "likely," "target," "plan," "contemplate," "seek," "attempt," "should," "could," "would" or expressions of similar meaning. Forward-looking statements reflect management’s evaluation of information currently available and are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Factors that might cause such a difference include, but are not limited to those factors discussed in our Annual Report on Form 10-K, under Part I, Item 1A —"Risk Factors" and elsewhere in our other reports, filings and furnishings made with the U.S. Securities and Exchange Commission from time to time. As a result of these or other factors, our actual results may differ materially from those contemplated by the forward-looking statements. Therefore, we caution you against relying on any of these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

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