Page 48 - Plastics News September 2022

IN THE NEWS

Repeats Group Invests in Polimero Srl, Continuing to Uri’s Efforts To Study
Build One of the Leading LDPE Plastic Recyclers in Plastic Pollution Get
Europe Federal Boost

MSTERDAM, Sept. 12, 2022 / Italian operations and execution of its PROVIDENCE, R.I. (AP) — Re-
APRNewswire/ -- Repeats Group growth plan. searchers at the University of Rhode
B.V. ("Repeats"), a pan-European plas- Island are getting some federal as-
tics recycling platform focused on the "Polimero has a great reputation in the sistance for their efforts to better
understand plastic pollution and the
production of high-quality recycled low- industry as an important player in the threat it poses to the ocean.
density polyethylene ("LDPE") from LDPE recycling environment in north-
post-industrial and commercial films, ern Italy," said Greg Rung, CEO of The university is set to receive $1
announced today that it has made an Repeats. "We see significant opportu- million in grant funding dedicated
investment in Polimero Srl ("Polimero" nity for Polimero to further penetrate to studying how plastics spread
or the "Company"), a producer of re- the Italian market by providing its cli- through the environment as well as
cycled LDPE located in northern Italy, ents with higher quality recycled resin. ways to reduce their harmful impact.
close to Venice. The financial terms of We are delighted that Simonetta and Plastic products are a leading type of
the transaction were not disclosed. Re- her team are joining Repeats and look marine pollution, devastating oce-
peats is a portfolio company of Ara Part- forward to building on their success to anic ecosystems and entangling large
ners ("Ara"), a global private equity firm date." animals. Tiny particles released from
focused on industrial decarbonization. "We share Repeats' and Ara's ambition textiles, packaging or discarded plas-
to build one of the largest LDPE recy- tics, meanwhile, have been found in
Repeats' investment in Polimero marks fish, birds and people.
its expansion into Italy, an important clers in Europe," said Simonetta Tib- Known as microplastics, these mi-
step in building a pan-European plastics erto, CEO of Polimero. "We are excited niscule bits of pollution have been
recycling platform. It follows Repeats' to have Repeats' support as we continue called a growing environmental
recent two investments in Spain and the to expand our business and geographic threat that requires immediate at-
Netherlands, with expansion into other reach. All our efforts are aimed at creat- tention.
European countries planned for later ing a circular ecosystem and best serv- URI already has a network of nearly
this year. ing customers who increasingly require
high-quality recycled plastics." 50 faculty members in different
Polimero uses a mechanical process to departments working on efforts to
convert plastic waste into resin suitable "We are excited for Repeats to enter the study and address plastic pollution.
for commercial and industrial applica- Italian market and partner with Simon- “Unchecked plastics pollution is a
tions. As part of Repeats, Polimero plans etta," said Tuan Tran, Partner at Ara threat to our health, our environ-
to continue expanding its production to Partners. "The Repeats platform is well ment, and our economy,” said Dem-
meet the growing demand for recycled positioned for rapid growth and plans to ocratic Rep. Jim Langevin of Rhode
LDPE in Europe. become the largest independent produc- Island, who helped to get the fund-
er of recycled LDPE resins in Europe. ing approved.
Polimero is led by Simonetta Tiberto, We are pleased to support Repeats in its
who has been with the company since ongoing efforts to decarbonize the Euro- Langevin and U.S. Sen. Jack Reed,
D-Rhode Island, announced the
2010 and will continue to lead the pean plastics market."
grant money last week.

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