Company: INV
Filing Date: 2025-04-15
Form Type: S-1
Source: 0001628280-25-017890
Chunk: 96

Company: Innventure, Inc.
Filing Date: 2025-04-15
Form: S-1
Chunk 96
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 packaging; regulatory

focus on restricting plastic waste exports, landfill, and incineration; and minimum recycled plastic content

requirements, all of which could enable premiums for sustainable plastics (including sustainable feedstocks, such as

naphtha or light olefins, for polymer and plastic production), the market for plastic recycling is strengthening. The

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global recycled plastics market size was valued at $51 billion in 2023 and is projected to grow to $107 billion by

2032. Current market prices for naphtha substitutes (e.g., hydrotreated pyrolysis oils and sustainable/circular

naphtha) frequently indicate a significant premium over fossil naphtha.

Sustainability Benefits

Superior sustainability benefits are integral to AeroFlexx’s package design and overall value proposition.

Refinity aims to divert plastic waste that is currently mishandled, landfilled, or incinerated and convert that waste to

sustainable, drop-in chemicals for use in the existing petrochemical supply chain. We believe that the following

sustainability benefits are potential targets:

• Package Circularity : AeroFlexx packaging can incorporate up to 50% recycled content without

compromise.

• Life Cycle Analysis : By considering source reduction, recycled content, recyclability and eliminating excess

packaging material in e-commerce, AeroFlexx can deliver up to 83% less waste to landfills, 69% GHG

reduction, and 73% less water use.

• UN Sustainable Goals Alignment : AeroFlexx can contribute to meeting several of the sustainable

development goals outlined by the United Nations, including industry, innovation, and infrastructure;

responsible consumption and production; climate action; and life below water.

• GHG emissions reduction relative to plastic waste incineration or pyrolysis : Internal LCA analysis

indicated about -400 kg CO2-eq/tonne plastic waste for the Refinity fluidized bed conversion process

compared to 1777 kg CO2-eq/tonne plastic waste for incineration and 739 kg CO2-eq/tonne plastic waste

for pyrolysis, so Refinity believes that its process will reduce GHG emissions.

• Fossil source reduction : If all plastic waste from landfill and incineration (240 million tonnes per year)

were converted to hydrocarbon liquids (e.g., naphtha substitute) at yields consistent with what Refinity

believes are possible in the fluidized bed process, those hydrocarbon liquids