Joint Solutions – Collaboration in the Circular Economy
As reported in the Circularity Gap Report, only 7.2 percent of the global economy was circular in 2023 – less than in previous years. This must and can change, primarily through more intensive cooperation in all areas. This is the best way to develop ideas and technologies, achieve economies of scale and eliminate barriers along the way to the Circular Economy. Industrial enterprises can thereby propel the next wave of innovation and boost growth. By 2030, the Circular Economy could create millions of new jobs around the world.
Covestro wants to cooperate with as many stakeholders as possible in all areas of value creation and science in order to find the best solutions for the Circular Economy. The company is relying on targeted partnerships and on projects and alliances within the chemicals industry and across different sectors. In addition to developing technology, Covestro is targeting innovative business models and new value creation approaches, especially through cooperation in the digital sector.
Promoting Recycling and Transparency
Recycling car plastics together. As part of a German-Chinese pilot program, Covestro and its partners want to work together to create circular solutions for high-quality plastics sourced from used vehicles. The goal is to establish an efficient and sustainable system for recycling plastics in the automotive industry and thus promote lasting change in the sector.
Recycling insulating foam together. In the EU-wide project Circular Foam, Covestro is coordinating the research efforts of 22 partners from nine countries. Experts from science, business and society want to develop a comprehensive solution model for the waste management and recycling of rigid polyurethane foam, which is needed for insulating buildings and refrigerators.
Optimizing design together. Together with Dell Technologies, Covestro carried out a study on recycling laptops. If plastics for device components are optimally designed from the start, the economic efficiency of the recycling loop increases.
Bringing sectors together
Expanding recycling. Covestro is promoting the convergence of the chemical industry and the recycling industry. In Germany, we have signed a cooperation agreement with the environmental service provider Interseroh, which belongs to the Alba Group. The goal is to further develop innovative recycling methods for plastic waste.
Using steel waste gas. Covestro is a partner of the research project Carbon2Polymers at RWTH Aachen. The project aims to create a stronger network between the steel, energy and chemical industries. Among other things, research is being conducted into how CO2-containing cogeneration gases from the steel production of project partner Thyssenkrupp can be used as a source material for plastics.
Interlinking science and the economy. Covestro is using the still new quantum computing capabilities to accelerate its innovation processes, primarily for the Circular Economy. In a joint study with Google, the company found out how the effects of noise in quantum computing can be mitigated.
Promoting sustainable mobility. Covestro is supporting “Team Sonnenwagen” from Aachen in developing efficient solar race cars together with Siemens, Mercedes, Sika and other partners. Covestro is sending high-performance, sustainable materials into the race, which are found in the seat shell and in the battery casing, among other places.
