HUL Invests In Lucro Plastecycle To Boost Flexible Plastics Recycling & Circular Economy
HUL’s strategic investment aims to accelerate recycling efforts and support the government’s vision for a zero-plastic-waste future
Hindustan Unilever (HUL) has declared a strategic investment to acquire a 14.3 per cent stake in Lucro Plastecycle Private, a leading player in recycling flexible plastics. This move is part of HUL’s commitment to strengthen plastic circularity and further its sustainability goals, aligning with the Indian government’s vision of a zero-plastic-waste future.
The partnership with Lucro, a well-integrated waste management and recycling company, aims to increase the availability of recycled content for flexible packaging, a key area in the drive toward sustainable plastic solutions. By addressing the challenge of hard-to-recycle flexible plastics, HUL hopes to accelerate the transition to sustainable packaging in the industry.
Rohit Jawa, CEO and Managing Director of HUL, expressed, “This investment marks a significant step in our efforts to build a robust recycling ecosystem and advance the circular economy model for plastics. It aligns with our core belief that what benefits India, benefits HUL.”
Ujwal Desai, Managing Director of Lucro, commented, “At Lucro, we view the recycling of post-consumer flexible plastics as an opportunity to create high-quality, recycled materials that contribute to a circular economy. HUL’s investment will help scale our capacity and drive the widespread adoption of post-consumer resin, setting a new benchmark for sustainable plastics.”
With this partnership, HUL strengthens its efforts to scale up the use of recycled flexible plastics in packaging and support the broader industry’s shift towards circular and sustainable plastic solutions.
