Circular Industries Secures €2 Million in Venture Capital; A Step Closer to Innovative Solution for Recovering Critical Raw Materials
Summary
Circular Industries (CI) is pleased to announce the successful completion of an early-stage funding round of 2 million. This funding, led by three leading investors, Orchard Participations, EIT InnoEnergy, and Impuls Zeeland, marks a significant step forward for CIs ambitious project, the Urban Mining Factory Printed Circuit Boards (UMF-PCB).Circular Industries UMF-PCB project has two crucial pillars: circularity and geopolitical independence. This initiative aims to maximize the recovery of Critical Raw Materials from low-value discarded printed circuit boards through a unique process not yet employed elsewhere in the world. By recovering these critical raw materials, CI contributes to sustainability and ensures the availability of resources for future generations. At the same time, it reduces the European Unions dependency on external suppliers, especially in a time when geopolitical issues are putting supply chains under pressure.Early-stage funding has been made possible by three forward-thinking investors who share CIs vision.Boudewijn Poelmann, Founder of Orchard Participations, said, Recovering metals from printed circuit boards contributes to a more sustainable world and the careful management of metals that are becoming rare and important for the energy transition.Roel van Diepen, Investment Director EIT InnoEnergy Benelux, added, Securing the availability of scarce raw materials within the EU is becoming an increasingly relevant theme in EIT InnoEnergys investment policy.