Lamor and Remeo sign an agreement on the supply of plastic waste for feedstock to the Lamor Recycling facility in Kilpilahti, Porvoo, Finland

Lamor Corporation Plc              Press release 26 March 2024 at 9:00 a.m. EET

Lamor and Remeo sign an agreement on the supply of plastic waste for feedstock to the Lamor Recycling facility in Kilpilahti, Porvoo, Finland

Lamor Recycling has signed an agreement with a Finnish waste management company Remeo on the supply of sorted plastic waste as feedstock to the Lamor Recycling’s chemical recycling facility in Kilpilahti, Finland. Remeo will provide the full amount and quality of plastic waste that the facility requires once it is completed later this year. With an initial annual processing capacity of 10,000 metric tons, it will be the first industrial-size facility for chemical recycling of plastic in Finland, and a proof-of-concept plant for Lamor’s plans to have a 100,000 metric ton portfolio in chemical plastic recycling.

“We are together creating a new, scalable recycling method for plastics. This cooperation is unique in industry, and it will become reality faster than any of the other projects that are in design phase”, says Remeo’s CEO Johan Mild. “For us, this initial 10,000 metric ton agreement marks the starting point for a significant cooperation that has a lot of potential.”

The facility is being constructed and will be operated by Lamor Recycling Oy, a project company owned by Lamor and its partner Resiclo Oy.

“It is crucial for us to have access to sorted plastic waste with the right polyolefin content, which until now is mainly diverted for incineration. We are very happy about this agreement that brings us a step further in sustainable development and circular economy of plastic”, says Lamor’s CEO Johan Grön, who previously headed the project as Lamor’s COO. “Remeo has an extremely modern and efficient sorting facility in 20 kilometers distance from Kilpilahti, and we are looking forward to good cooperation and potentially even higher volumes in the future.”

Remeo is a Finnish environmental management company and the leading sorter of plastics focusing on waste recovery. Their materials sorting facility in Vantaa is unique in Europe because it uses advanced technology and integrates two different processing lines for waste fractions: both commercial & industrial waste (C&I) and construction & demolition waste (C&D).

EU commission has recently sent a warning to Finland that the country is unlikely to achieve the 55% target set to the recycling of municipal waste. In addition, the EU is preparing legislation that prohibits the use of recycled plastic imported from outside the EU in food packaging due to environmental concerns. Food packaging requiring high hygiene will be one possible way to use Lamor Recycling’s production.

“This project, as well as our planned portfolio, are certainly strong contribution to solving the huge global plastic waste problem, starting from Finland”, concludes Grön.

Further information

Johan Grön, CEO, Lamor Corporation Plc
tel. +358 40 5464186, johan.gron@lamor.com

Johan Mild, CEO, Remeo Group Oy
tel. +358 40 301 3004, johan.mild@remeo.fi

Lamor in brief

Lamor is one of the world’s leading providers of environmental solutions. For four decades, we have worked to clean up and prevent environmental incidents on land and at sea.

Environmental protection, soil remediation and material recycling: Our innovative technologies, services and tailored solutions, ranging from oil spill response, waste management and water treatment to soil remediation and plastic recycling, benefit customers and environments all over the world.

We are capable of vast and fast operations thanks to our connected ecosystem of local partners, steered by our experts. We have over 600 employees in more than 20 countries. In 2023, our turnover was 123 million euros. Lamor's share is listed on the Nasdaq Helsinki (ticker: LAMOR). Further information: www.lamor.com

Remeo in brief

Remeo is a Finnish environmental management company. We solve our customers' challenges in waste management, material recycling, and raw material procurement.

We are an ambitious developer in the recycling industry and utilize the most modern smart technology in material sorting, making our material cycle the most efficient in the industry. Our mission is to reduce Finland's CO2 emissions by increasing the recycling rate.

Remeo operates in Finland nationwide and employs 450 circular economy professionals. Our yearly turnover is over 100 million euros. Further information: remeo.fi