Circtec, a London, UK-based leader in pyrolysis for sustainable end-of-life tyre recycling, received €150m in financing.
Novo Holdings and A.P. Moller Holding led a €75m equity investment. The financing also included €22.5m of grants awarded by the Government of the Netherlands.
The funding enables the company to construct a large end-of-life tyre pyrolysis recycling facility in Delfzijl, the Netherlands.
Founded in 2009 by British industrial decarbonisation entrepreneurs Allen Timpany and Robert Harper, Circtec is an innovator and operator of pyrolysis technology to recycle waste into renewable fuels and circular chemicals, in order to support the energy transition and the move to a circular economy. The group has a presence across five countries in Europe, with 2 commercial demonstration plants operating today and a third flagship scale plant under development in the Netherlands. In addition to production plants, the group includes both design & engineering and research & development units, with an ongoing focus on scaling its process for chemical recycling of tyre waste and on adapting the process to other waste feedstocks. The company’s proprietary production technologies, including its CIFRTM pyrolysis reactor system, have been developed to commercial scale, supplying several global multinational industrial partners with renewable fuel and circular chemical products.
FinSMEs
21/05/2024