CIRCTEC secures €150M to construct Europe’s largest end-of-life tyre pyrolysis recycling facility in the Netherlands
Summary
UK-based CIRCTEC, a company specialising in pyrolysis for sustainable end-of-life tyre recycling, announced on Tuesday, May 21, that it has secured €150M in a fresh financing round co-led by Novo Holdings and A.P. Bringing our technology to a global scale will generate meaningful contributions to the sustainability of the planet.” The capital will enable CIRCTEC to establish Europe’s largest end-of-life tyre pyrolysis recycling facility in Delfzijl, the Netherlands. Founded in 2009, CIRCTEC has developed a proprietary technology for decomposing old tyres through pyrolysis, a process that transforms waste into valuable circular materials through thermal decomposition in an oxygen-free environment. Anders Spohr, Senior Partner, Bioindustrial Investments, Novo Holdings, says, “CIRCTEC is the global leader in end-of-life tyre pyrolysis, and thanks to its unmatched proprietary technology, the Company is on a rapid growth trajectory that will now be further accelerated. In addition to having a strong technology platform, the team shares Novo Holdings’ firm belief in circularity as a key component in advancing planetary health by enabling the green transition of society.
Funding
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