Infinity Recycling's Circular Plastics Fund gains €105.3 million in funding

Oct 24, 2023

Recycling BV, a growth capital firm investing in advanced plastics recycling technologies,  has announced the closing of its Circular Plastics Fund I (CPF), achieving €105.3 million in committed capital. The backing from its new investors  includes the European Investment Fund (EIF) and GC Ventures.

The CPF, with an initial target size of €150 million, is an Article 9 ’dark green’ impact fund under the EU’s Sustainable Finance Disclosure Regulation. Its investments aim to accelerate the transition to a circular economy of plastics by scaling up advanced recycling technology companies with strong growth prospects that transform plastic waste streams into primary commodities used to produce new plastics. It is claimed that the contribution of the fund’s investors will expedite the commercialisation of the advanced recycling market, playing a role in enabling a circular economy for plastics and contributing to decarbonisation across the industry.

"The proportion of plastic packaging that is recycled is still far too low," said EIF Chief Executive Marjut Falkstedt. "Our climate change and environmental sustainability challenge is a combination of many different issues, and the excessive use of plastics is a major factor. A lot can be achieved by changing our habits, but innovation is key to finding new ways of dealing with structural plastic use and making sure we use every piece of plastic as many times as possible. With the support of the InvestEU programme, we are very happy to be supporting this kind of innovation."

"Sustainability is key to our business operations and our commitments", contributed Kamel Ramdani, Senior Vice President of PTTGC and MD of GC Ventures. "Applying the circular economy principle to closed-loop plastic waste management, recycling, and upcycling is mandatory. This includes developing new solutions through innovation and their market impact to better meet people’s needs."

Since the fund’s launch in February 2022, the team has gained momentum and made significant inroads by investing in four portfolio companies, with three follow-on investments, that are claimed to be all well-positioned to deliver private equity market returns and lasting impact.

"We are pleased to have such well-regarded investors in the Circular Plastics Fund and are thankful for the support from new limited partners such as EIF and GC Ventures, who have recognised Infinity Recycling’s differentiated investment focus", added Jan-Willem Muller, Managing Partner at Infinity Recycling.

Source: Interplas Insights