Next Generation Group, an Austrian-based developer and manufacturer of technology and equipment for the plastics recycling industry just announced a minority share investment by Ingka Group. The investment will enable the company to further develop new technology and expand its service offering in order to better serve the plastic recycling industry.
Next Generation Group is a company with more than 20 years' experience and a leading developer and provider of equipment and technology to the plastics recycling industry. The company supports the supply growth of secondary raw plastic materials by offering a full range of post-consumer, post-industrial and PET recycling equipment. Next Generation Group is, among other things, in the forefront when it comes to the development of technology for the next dimension of PET recycling, P:REACT. Ingka Group will make a minority share investment of 24%.
Josef Hochreiter, CEO of Next Generation Group, says: "Ingka Group with their investment principles, enables Next Generation Group as a technology-provider, to invest in new technologies supporting the transition from a linear to a circular economy. The shared view on our long term strategy and philosophy supports us to further grow the company".
"Next Generation Group is an interesting company with great potential and is in line with our sustainability commitments. We have a clear strategy for our minority investments to support innovative companies and create room for them to develop. We have a long term commitment in all our investments," says Krister Mattsson, Head of Ingka Investments.
Next Generation Recycling was established in 1996 as a technology and equipment provider for the plastic recycling industry. The Group designs and manufactures recycling machinery mainly at their facility in Feldkirchen, Austria. The Group has 250 employees.
Ingka Group makes a minority share investment in Next Generation Group