EQT to Acquire KJ Environment to Establish Waste Treatment Platform
Investment firm EQT has entered into an agreement to acquire KJ Environment and its affiliated companies in South Korea. The move aims to create a national waste treatment platform focused on plastic recycling and waste-to-energy.
EQT Infrastructure VI has agreed to acquire KJ Environment and its affiliated companies in South Korea, intending to establish a comprehensive waste treatment platform. The platform will focus on plastic recycling and waste-to-energy solutions across the entire value chain.
KJ Environment is a leading plastic recycler in South Korea by treated volume, with key facilities in the Greater Seoul Metropolitan Area serving over half of the country's population and GDP. The company utilizes technology to produce recycled plastics suitable for food and beverage packaging.
The global demand for recycled plastic is projected to grow, driven by stricter regulations and corporate sustainability commitments, particularly within the consumer packaged goods sector.
This acquisition marks EQT's second infrastructure investment in South Korea. It aligns with EQT's strategy of investing in climate-related infrastructure to promote resource efficiency and a circular economy. EQT plans to provide capital and operational support to KJ Environment for expansion and technological advancements.