Next Generation Group, an Austrian-based developer and manufacturer of technology and equipment for the plastics recycling industry has announced a minority share investment of 24 per cent by Ingka Group.
The investment will enable the company to further develop new technology and expand its service offering to better serve the plastic recycling industry.
The company supports the supply growth of secondary raw plastic materials by offering a full range of post-consumer, post-industrial and PET recycling equipment.
The company says it is, among other things, in the forefront when it comes to the development of technology for the next dimension of PET recycling, P:REACT.
Josef Hochreiter, CEO of Next Generation Group, said: “Ingka Group with their investment principles, enables Next Generation Group as a technology-provider, to invest in new technologies supporting the transition from a linear to a circular economy. The shared view on our long term strategy and philosophy supports us to further grow the company”.
Krister Mattsson, Head of Ingka Investments, added: “Next Generation Group is an interesting company with great potential and is in line with our sustainability commitments. We have a clear strategy for our minority investments to support innovative companies and create room for them to develop. We have a long term commitment in all our investments."