CropEnergies acquires 50% of Dutch biobased chemicals start-up Syclus

In Germany, CropEnergies AG has acquired a 50% stake in the Dutch start-up for biobased chemicals Syclus BV, Maastricht. for EUR1.8 million.

The goal is to build an industrial scale plant for the production of renewable ethylene from renewable ethanol. Ethylene is a basic chemical usually made from fossil oil and gas and is widely used in the chemical industry in particular for plastics and polymers used in everyday products. Historically, European demand for ethylene was approximately 20 million metric tons per year.

The initial investment will go towards the development of the future plant. During this time, Syclus will work out the technical and economic viability of producing renewable ethylene at Chemelot Industrial Park, Geleen, the Netherlands. Discussions with potential clients will be deepened. Assuming a positive result, basic engineering is scheduled to start in late 2023. Syclus plans on building a plant with an annual production capacity in the range of 100,000 tons, starting production in 2026. This would require an investment of EUR85 to EUR100 million.