SKYTECH inaugurates its new production site in Val d’Hazey and aims to produce more than 50,000 metric tons of recycled plastics by 2024
- An investment of more than 17 million euros to reindustrialize and modernize the new facility
- A proprietary industrial process and the know-how needed to recycle over 50,000 metric tons of styrene plastics (ABS, PS & PP) by 2024
- More than 106 employees committed to the circular economy and the low-carbon transition
- One ambition: to become one of Europe’s leaders in styrene plastic recycling
Le Val d’Hazey, October 7, 2022 – SKYTECH, a French greentech player specialized in the production of top-quality recycled engineering resins for industrial clients and plastics manufacturers (ABS, PS, PP),[1] officially inaugurated its headquarters and new production site, located in Val d’Hazey, on Thursday, October 6, 2022. The ceremony was attended by the Eure department’s prefect, Mr. Simon Babre, French senator Nicole Duranton, and a strong showing of elected officials representing the Normandy region, the Eure department, the Seine-Eure metropolitan area, and the Val d’Hazey municipality.
“We are thrilled to have inaugurated this site, whose commissioning is a key step for SKYTECH and its development. Thanks to our new production lines coupled with our know-how, we will soon be able to supply customers from a wide range of sectors with extremely high-quality recycled resins in industrial quantities. My thanks go out to all those who contributed to making this project a reality,” said Christophe Lamboeuf, CEO of SKYTECH.
“SKYTECH’s choice of Val d’Hazey is excellent news for the economic momentum, employment prospects and attractiveness of the Eure and, more broadly, of the Normandy region. The government is very happy to see a player that genuinely contributes to the development of the circular economy put down roots here. SKYTECH has joined the list of companies that are standard-bearers of our beautiful region in France and internationally. Many thanks to those who have made this success possible and created 80 jobs! State aid was also mobilized to support this project,” said Simon Babre, Prefect of the Eure.
Val d’Hazey, a newly refurbished facility in the heart of Normandy
SKYTECH invested more than 17 million euros to refurbish and modernize the site, previously home to the factories of DRAKA PARICABLE, which closed in 2014. A laureate of the ‘Relocation’ call for projects under the France Relance recovery plan, SKYTECH also received financial support from BPI France, the Seine-Eure metropolitan area and the Normandy region.
In Val d’Hazey, SKYTECH has use of an area totaling 42,000 square meters (10.38 acres), of which 19,000 (4.7 acres) are covered, to house its production lines, R&D facilities, and headquarters.
Industrial activity has been gradually ramping up since April 2022. Deployment of the production lines is set continue, with full capacity planned for 2024.
SKYTECH has contributed to local employment by recruiting 80 additional positions in recent months to support its very strong growth. Today, the company boasts 106 employees.
The launchpad for an ambitious international expansion strategy
The scaling of industrial activity at Val d’Hazey will allow SKYTECH to increase its annual production capacities by a factor of five to deliver more than 50,000 metric tons annually of top-quality recycled plastics (rABS, rPS, rPP) starting 2024.
This is a key first step in SKYTECH’s next phase of development as the company prepares to meet the growing demand of manufacturers in France and worldwide. The latter, faced with pressure from consumers and legislators, are constantly looking for solutions to reduce their carbon footprint and integrate more sustainable and recyclable materials in their products.
SKYTECH has a clearly defined ambition: to be the European leader for the recycling of hard and complex plastics. To achieve this, SKYTECH will strengthen its presence in the geographical areas where its customers are. This is already underway in Italy, where a subsidiary opened early in July 2022, and where SKYTECH plans to build a new plant in the coming months.
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About SKYTECH
A company active in the intelligent and sustainable circular economy, SKYTECH contributes to revolutionizing the plastics industry with eco-plastics. SKYTECH produces premium recycled materials from complex plastic waste for industrial applications. After many years of R&D carried out with support from ADEME, SKYTECH has developed a proprietary, innovative sorting platform enabling the separation of post-consumer polymers at a purity rate greater than 99% as well as their granulation. SKYTECH offers a concrete answer to the challenge facing the plastics industry, namely, how to evolve their product to serve eco-design as well as to address a major environmental issue at the heart of society’s concerns. As a company, SKYTECH also strives to limit its own environmental impact with a production line delivering first class energy performance. SKYTECH has been supported since its founding by Xerys Invest.
For more information: www.SKYTECHslp.com; LinkedIn @SKYTECH SLP
About XERYS INVEST
Xerys Invest is a French investment company primarily positioned on trending sectors that include healthcare & Life Sciences, renewable energy, Greentech and new digital technologies. As such, Xerys Invest supports companies in industries undergoing major transformation to address economic, environmental, and societal challenges and that have great ambitions for their growth and international expansion.
In its market, Xerys Invest stands out as much for its modus operandi and the strategic and operational support it provides to portfolio companies, as for the range of à la carte investment opportunities offered to investors and the firm’s close relations with them, or its sector-based approach. Lastly, Xerys Invest has considerable sector expertise, bolstered by a strategic committee made up of recognized specialists and experts in key sectors.
For more information: www.xerys.com; LinkedIn @Xerys.
Press contacts
CONVICTION[S]
Edouard de La Loyère – +33 6 76471444 – edelaloyere@convictions.fr
[1] ABS: Acrylonitrile butadiene styrene; PS: Polystyrene; PP: Polypropylene
