“Sustainable Plastics Industry Transformation” (SPIRIT) endeavour receives EUR 20 million in funding from public sector operator Business Finland. Borealis Finland has received EUR 20 million in funding from Business Finland, a public sector business growth accelerator, to launch the innovative SPIRIT programme “Sustainable Plastics Industry Transformation.” As project leader, Borealis Finland will coordinate research and development efforts among a wide range of existing and new partners.
SPIRIT aims to drive the transformation of the plastics industry in Finland by way of three main activities: the replacement of conventional fossil fuel-based feedstocks with renewably sourced ones; the development of technologies and processes for the mechanical and chemical recycling of plastics; and the decarbonisation of production operations through electrification as well as the use of hydrogen and renewable energy sources.
“Plastic is one of the most versatile materials available, and is an important source of economic growth. Yet as an industry, we must address the issues of dwindling resources on the one hand, and plastic waste on the other,” says Salla Roni-Poranen, Borealis Finland Managing Director. “SPIRIT allows us to maintain our industry leadership as we innovate and collaborate to find alternatives for fossil fuel-based materials and energy supply, and to make plastic recycling even more viable.”
“We welcome the local initiative taken by Borealis Finland in driving change in the Finnish plastics industry,” says Lucrèce Foufopoulos, Borealis Executive Vice President Polyolefins, Circularity and Innovation & Technology. “SPIRIT is another example of how Borealis re-invents for more sustainable living, one region at a time.”
Business Finland is a public sector operator under the Ministry of Employment and the Economy of Finland and was established to attract trade and foreign investment to the country. It provides research, development and innovation (RDI) funding to companies in Finland. Its so-called challenge competitions – in which Borealis Finland successfully took part – invite leading international companies to submit solutions which address pressing future challenges. The most recent competition challenge took place in 2021 and was funded primarily through the EU’s recovery fund.