HUL Invests in Lucro Plastecycle to Boost Plastic Circular Economy

Hindustan Unilever Ltd has approved an undisclosed investment to acquire a 14.3% stake in Lucro Plastecycle, a firm dedicated to recycling and waste management. This move aims to enhance plastic circularity, increase recycling capacity, and promote sustainable packaging solutions. HUL's initiative aligns with its vision for a sustainable future.

Hindustan Unilever Ltd (HUL) has taken a pivotal step towards sustainability by acquiring a 14.3% stake in Lucro Plastecycle, a company focusing on creating a circular economy for plastics. The investment aligns with HUL's mission to foster environmental responsibility.

Lucro Plastecycle, renowned for its integrated waste management and product manufacturing expertise, will benefit from this capital infusion as it aims to expand recycling capacities and the use of post-consumer resin.

HUL CEO and MD Rohit Jawa believes that enhancing recycling capabilities is essential for the business, while Lucro's Managing Director Ujwal Desai confirms the partnership will benchmark new standards for sustainable plastic use.

(With inputs from agencies.)