Ikea's associated group, Ingka, invests circularly in China's plastic recycling industry for the first time through Re-mall.
Ingka Investments, the investment arm of the Ingka Group, is making strides in its mission to expand the availability of recycled materials and reduce CO2 emissions at scale. The latest move in this journey is a significant collaboration with Re-mall, a Shanghai-based company specialising in plastic waste recycling.
This partnership marks a milestone in their joint endeavour to scale sustainable solutions globally. The goal is to transform plastic waste into valuable resources, contributing to a cleaner planet and a more responsible future.
The investment by Ingka Investments complements its previous stake in European plastics recycler Morssinkhof Rymoplast. The growth capital investment in Re-mall significantly supports the circular economy and plastic waste reduction in China by expanding Re-mall's recycling capacity and enabling the development of high-quality recycled products.
With this investment, Re-mall will be able to address plastic pollution at scale in one of the world's largest plastic markets. The funds will be used to increase recycling capacity and develop new products at Re-mall's facility in Jiangxi province.
Re-mall's proprietary recycling technology produces transparent recycled polypropylene (rPP), overcoming challenges such as waste contamination and quality degradation. This supports a circular materials supply chain, reducing reliance on virgin plastics. Re-mall's strong supplier network and partnerships with major Chinese food delivery services enable effective collection and recycling of plastic waste streams from economically vital regions like the Yangtze River Delta and Pearl River Delta.
Pontus Erntell, President & Chief Sustainability Officer at IKEA China, stated that this investment demonstrates Ingka Group's long-term commitment in China. Zhu Kuan, CEO of Re-mall, expressed his happiness about Ingka Investments joining as a strategic partner in their mission to accelerate the circular economy in plastics.
The strategic location of Re-mall's facility allows it to access plastic waste streams from major cities including Guangzhou and Shanghai. This investment reflects a strategic long-term commitment by Ingka to accelerating the circular economy in China, aligning with Ingka Group’s broader sustainability strategy to leverage innovation and scale in markets critical to global plastic waste solutions.
In summary, the investment promotes plastic waste reduction through enhanced recycling infrastructure and new product development, positioning Re-mall as a key player in China's circular economy. It demonstrates Ingka’s commitment to sustainable growth and plastic waste innovation in a key global market.
For updates on Ingka Group's sustainability initiatives, follow them on LinkedIn.
[1] Ingka Investments Press Release [2] Re-mall Press Release [3] Article about Ingka's investment in Re-mall [4] Article about Re-mall's supplier network [5] Article about Ingka's commitment to the circular economy
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