Monday 22 June 2020

LEGO invests $26m in a plastic-to-energy company

LEGO’s investment company KIRKBI has spent $26 million (£21m) buying an 11% share in a company, which converts plastic into energy.

The Norwegian technology-based energy company Quantafuel turns plastic waste into low-carbon synthetic oil products, replacing virgin oil products.

The investment aims to further improve chemical recycling and demonstrate how mixed plastic waste can be recycled into new quality materials.

Thomas Lau Schleicher, Chief Investment Officer in KIRKBI, said: “The development of chemical plastic recycling technology has proven a great challenge.

“Quantafuel however, has taken an innovative and scalable approach to solve this key problem resulting in a strong business potential while ensuring high environmental impact.”