Soleno completes acquisition of Plastiques VPC
by CM Staff
Soleno will give a second life to these materials by integrating them into the manufacturing process of high-density polyethylene pipes for stormwater management.
SAINT-JEAN-SUR-RICHELIEU — Soleno is a Canadian cleantech company that develops sustainable solutions for storm water management. On May 12, Soleno announced the acquisition of Plastiques VPC, a start-up specializing in the recovery of oil-contaminated plastics. This will position the province of Quebec advantageously in the recycling industry and will hopefully demonstrate its leadership in the fight against climate change.
The pandemic has highlighted Canada’s heavy dependence on foreign supply, in many sectors, plastic supply being no exception. In addition to offering sustainable solutions for companies needing to dispose of their contaminated plastics and hazardous material, Soleno will give a second life to these materials by integrating them into the manufacturing process of high-density polyethylene pipes for stormwater management.
Annually, in Quebec and the Atlantic Provinces, more than 3.5 million kg of oil and antifreeze containers can be recycled. By acquiring Plastiques VPC, Soleno will be the only company in Eastern Canada able to recover materials from these territories in a fully integrated manner. Soleno will now be able to serve waste management and hazardous material management companies, mechanical service retailers, hardware stores, and agricultural businesses.
“We are incredibly proud of this acquisition, which we are announcing today despite the pandemic. Soleno has always known how to innovate and evolve with clean technologies and the acquisition of Plastiques VPC makes no exception. This is a great step forward for us and the entire recycling sector, knowing that these contaminated plastics will have a second life in sustainable products made by Soleno,” said Alain Poirier, President of Soleno.