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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 parent company of Ikea. 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. 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.