Rotterdam-based Infinity Recycling has successfully closed its Circular Plastics Fund at €175 million, aimed at boosting advanced plastic recycling. This impact investment fund will focus on scaling up young recycling companies past their initial start-up phase.
The Circular Plastics Fund, originally targeted at €150 million, exceeded expectations thanks to substantial backing from the European Investment Fund (EIF), which contributed €50 million. Additional support came from notable investors including Chevron Phillips Chemical, GC Ventures, a foreign pension fund, Vopak, and others.
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Enhancing Advanced Recycling Technologies
Infinity Recycling’s fund will specifically support companies that utilize scalable technologies needing financing to scale their operations industrially and commercially. The fund’s focus is on advanced recycling technologies, which unlike traditional mechanical recycling, can preserve the original properties of plastics, such as safety for food use, strength, or elasticity. These advanced processes involve chemical treatments that allow for the complete recycling of end-of-life plastic waste, producing new plastics with virgin-like properties.
Founders and Future Plans
Founded by Jeroen Kelder and Jan-Willem Muller, Infinity Recycling began its fundraising efforts four years ago and has now successfully allocated €32 million from the fund across various projects. The funded technologies include converting PET bottles into reusable PET and ‘cracking’ plastic into industrially used oils. This is achieved through pyrolysis technology, which involves heating plastic in a vacuum to produce a distillate oil that can be used to make new plastics.
Expanding Recycling Infrastructure
With the closure of this fund, Infinity Recycling plans to build five additional plastic recycling factories in the Netherlands and Flanders, furthering its mission to return plastic waste to its original building blocks. This expansion includes existing projects such as the operational Pryme facility in Rotterdam and new plants underway at Chemelot in Geleen, with more planned for Moerdijk, Eemshaven, and the port of Ghent.
Impact and Vision
The Circular Plastics Fund is part of Infinity Recycling’s broader strategy to create markets for end-of-life waste streams by investing in advanced recycling technologies. This approach aligns with the company’s commitment to fostering circularity in the plastics industry, aiming to solve the plastic waste problem and increase the capacity for high-demand recycled commodities.
By implementing a return- and impact-driven investment strategy, Infinity Recycling is accelerating the transition to a circular economy for plastics, ensuring sustainable industry practices and reducing environmental impact.
