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Pioneer in plastic resin recycling, Skytech wants to enter Euronext Growth

(BFM Bourse) — Originally from Yvelines, Skytech intends to accelerate its industrial and commercial expansion by opening new plants to recycle plastic resins such as ABS, which have not yet been recycled. The company wants to rely on the stock market to become one of the European leaders in the market for renewable plastic resins.

The current high volatility in the markets does not discourage young people from trying the stock market adventure. This May is particularly dynamic in the lead up to IPOs. Lhyfe’s fundraising results will be announced Friday evening while Broadpeak has announced that it has opened its bid to individuals, hoping to raise more than €20 million. Founded in 2018, Skytech “Cleantech” is part of the same dynamic. The financiers of Autorité des marchés have just registered the registration document of this company specializing in the recycling of plastic products, the first step in view of the introduction to Euronext Growth Paris.

Skytech has developed a process for recycling three types of plastic resins, ABS (acrylonitrile butadiene styrene), polystyrene and polypropylene. To date, these resins constitute waste that is either incinerated or buried. The company, headquartered in Yvelines in Bonnières-sur-Seine, makes it possible to reuse plastic waste – particularly from expired vehicles and electrical and electronic equipment – by converting it into high-quality resins, ready for use and with technical characteristics similar to those of directly-derived plastics. of petrochemicals.

“For recycling, mixtures of plastic waste must be separated by chemical nature. Conventional sorting techniques such as flotation and infrared sorting do not guarantee a sufficiently accurate separation for certain families of plastic due to their very similar density and difficulty in separating the black plastic resins. Therefore their recycling is very limited” , as Skytech explains in its press release.

“Tripo Electricity” in the service of plastic recovery

Après huit années de recherches, initiées avec le CNRS puis avec les laboratoires de l’Ecole Normale Supérieure, Skytech a mis au point une procédé industriel qui permet donner une nouvelle vie à ces déchets de solutions de solutions’ triabces à suffice today.

This process is based on “tribo-electricity” technology and consists of three stages. The first is to pre-treat the waste so that it is “contaminant-free and of uniform size” to move on to the next stage: “tripo-electrification” which consists of applying an electric field to sort complex mixtures of plastic waste from daily consumption by making it float in water. What other screening techniques fail to do.

Once separated, the various plastics are made into granules ready for manufacturers to use, similar to those made from virgin resins. Skytech explains that its expertise “meets specifications for plastics processors and industrialists in multiple areas of application: automobiles, electrical or electronic equipment, buildings and furniture”.

Greentech opened a site in Bonnières-sur-Seine, which began production in December 2020. During the past year, the annual production capacity of this first plant was 10,000 tons. Skytech aims to increase this year to 35,000 tons with the opening of a new production site in Val-d’Hazey in the Eure division, in order to meet the continuing demand for its products.

Skytech in particular anticipates a rise in demand for recycled plastics under the impact of closing the borders of some countries (including China) to import waste as Western countries used to export their plastic waste. The increase in regulations imposed by European countries and the demand for environmentally responsible products from the end consumer will cause manufacturers to increase the use of regenerated plastics.

Its turnover is around 200 million euros by 2025

By 2025, Skytech aims to achieve sales of around €200 million and an EBITDA margin of between 17-20%, before raising it to around 30% in 2030.

To achieve this, the company is counting on the opening of new production sites internationally (four plants expected in 2025 and at least six plants in 2030).

At the same time, the company intends to maintain its technological leadership and strengthen its research and development policy. Skytech also intends to contain the increase in the selling price of regenerated resins to remain competitive with so-called virgin resins.

Sabrina Sadeghi

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