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The French greentech, specializing in the production of premium regenerated plastic resins, reaches an important milestone and announces the approval of its registration document by the Autorité des marchés financiers (AMF) for its proposed IPO on Euronext Growth.
In the absence of sufficiently effective sorting solutions, almost all plastic waste is buried or incinerated. After more than 8 years of research and development, Skytech designs an industrial process based on triboelectricity technology that makes it possible to regenerate high-performance polymers, in other words to recycle complex mixtures of plastic waste into ready-to-use resins by industrial . Strengthened by its positioning in a segmented market, the company obtains the approval of its registration document by the AMF and, thanks to its IPO project, aims to accelerate its industrial and commercial development to become one of the European leaders in the regenerated ABS, PS and PP market.
Thanks to an innovative industrial process, Skytech gives new life to plastic waste from end-of-life vehicles and electrical and electronic equipment. This waste is converted into ready-to-use premium resins and has technical characteristics comparable to those of virgin plastic. For example, the French greentech is contributing to the decarbonisation of the plastics industry with its solution. “The production of one tonne of regenerated plastic results in a reduction of 2 tonnes of CO2 equivalent, 13 MWh of electricity and 5 m3 of water”underlines the company.
A unique and patented process
Three essential steps characterize this industrial process, which is protected by four patents. The waste preparation stage (ABS, PS and PP), called pre-treatment, in which the latter is cleaned to remove contaminants and then ground to proceed to the separation stage.
Followed by the triboelectric phase which allows the separation of the mixtures of ABS, PS and PP contained in the plastic waste into different families of plastics thanks to the “Triblast” technology. This patented separation process makes it possible to achieve purity levels of nearly 100%, up to 99% for ABS. These two phases are essential to increase the supply sources and thereby improve the production costs of skytech.
Once the different plastics have been sorted, the third and final stage of granulation transforms the material into granules that resemble granules made from new resins. This stage blends these resins by fusion with additives to modify their physical, thermal, electrical or aesthetic properties, so that they meet the highest quality standard.
In 2018, 17 million tons of ABS, PS and PP were consumed and produced in Europe and Asia. Given the increasing legal restrictions and consumer awareness of environmentally friendly products, society expects an increase in the regeneration rate of this plastic waste.
To anticipate this growth, Skytech, which has just set up its new production site in Val d’Hazey in the Eure department, is aiming to open new production sites internationally: four factories by 2025 and at least six factories by 2030. These openings will be accompanied by an increase in production capacity with the goal of 15 separation lines and 19 granulation lines by 2025 and at least 21 separation lines and 27 granulation lines by 2030. The company also wants to maintain its technological lead by strengthening its research and development policy to be approved by major accounts in the automotive and home appliance industries.
By 2025, the company aims for a turnover of around 200 million euros and an EBITDA margin target of between 17 and 20%, and then to achieve an increase in this margin of around 30% by 2030.