Hindustan Unilever Limited (HUL) Board has approved an investment to acquire a 14.3% stake in flexible plastic recycling manufacturer Lucro Plastecycle Private Limited (Lucro).

Lucro is a comprehensive waste management, recycling, and product manufacturing company dedicated to creating a circular plastic economy for a better tomorrow.

Addressing the Challenge of Hard-to-Recycle Flexible Plastics

HUL's investment is a step towards its sustainable development goals, aiming to expand the use of recycled flexible plastic components in packaging, aligning with the government's vision for future plastic waste management.

HUL CEO and Managing Director Rohit Jawa said, "This investment is an important step in building capacity for plastic recycling and developing a circular economy model, which aligns with our strong belief that what is good for India is good for HUL."

Lucro’s Ujwal Desai said that "the challenge of converting post-consumer recyclables to high-quality recycled plastic will become an opportunity for creating more effective recyclables, thereby advancing our circular economy." HUL’s investment has prepped the road to increasing our recyclable capacities and made commercial large-scale adoption of petroleum-based plastic a major goal.