Rotterdam-based Infinity Recycling, an impact investment fund dedicated to the creation of a circular economy for plastics, announced that it has closed its Circular Plastics Fund I (CPF) with €105.3M in committed capital.
The investors include the European Investment Fund (EIF) and GC Ventures (CVC of PTTGC).
Jan-Willem Muller, Managing Partner at Infinity Recycling says, “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.”
Long-term value creation and sustainable development
The Circular Plastics Fund I (CPF), initially aiming for €150M, is categorised as a highly sustainable impact fund under the EU’s Sustainable Finance Disclosure Regulation.
CPF invests in advanced recycling technology companies with strong growth potential, aiding the transformation of plastic waste into primary materials for new plastic production.
The fund’s investors will play a vital role in expediting the growth of the advanced recycling market, fostering a circular plastics economy, and promoting decarbonisation in the industry.
EIF Chief Executive, Marjut Falkstedt says, “The proportion of plastic packaging that is recycled is still far too low. 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.”
CPF focuses on advanced recycling technologies instead of traditional methods that can degrade plastic properties. It supports chemical processes that fully recycle plastic waste, producing new plastics with properties comparable to virgin materials.
By reintroducing these recycled plastics into the value chain, the fund aims to advance the concept of a fully circular plastics industry.
Since the fund’s launch in February 2022, it has invested in four portfolio companies and made three follow-on investments.
Brief about Infinity Recycling BV
Founded in 2019, Infinity Recycling aims to create markets for end-of-life plastic streams by investing in plastic recycling valorisation technologies.
The company’s Circular Plastics Fund combines financial returns with environmental impact, fostering value creation in advanced recycling and promoting the transition to a circular plastics economy.
The fund is nearing its projected final closing in Q4 2023, backed by growing investor interest and deployment.
The InvestEU programme
The InvestEU programme is a crucial initiative in the European Union aimed at securing long-term funding by leveraging significant private and public resources to support sustainable recovery and EU policy priorities like the Green Deal and digital transition.
It consolidates various EU financial instruments to simplify and streamline funding for investment projects in Europe.
The programme consists of three main components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund, supported by a €26.2B EU budget guarantee, is deployed through implementing partners to boost their risk-bearing capacity and mobilise at least €372B in additional investment for projects.
01
From port to startup fort: How Lars Crama is ‘Making it Happen’ in Rotterdam