ROTTERDAM, The Netherlands,
May 14,
2024 /PRNewswire/ -- Infinity Recycling ("IRC"), a
growth capital platform dedicated to investing in circular economy
solutions, is delighted to announce the successful final close of
its Circular Plastics Fund I SCSp ("CPF"). The final close exceeded
the fund's €150 million target, securing a total of € 175 million
in committed capital from institutional investors and value chain
partners from across the world, giving it an unique position as an
accelerator in the transition to a circular economy.
IRC has had the privilege of welcoming an impressive group of
institutional investors since the fund's last close in December 2024 including Dutch insurance group
ASR, Danish philanthropic association Realdania,
ING Sustainable Investments, the sustainable Investments arm
of ING, Danish investment and holding company
KIRKBI, and the impact investment initiative of Swiss
company Après-demain.
The CPF, an Article 9 'dark green' impact fund under the EU's
Sustainable Finance Disclosure Regulation, was established to help
accelerate the world's transition to a circular economy of
materials. It does this by supporting advanced recycling
technologies with the scaling up of their technology and the
strengthening of their business propositions. The tremendously
successful fundraise is testament to the growing enthusiasm amongst
institutional investors for impactful investment opportunities in
the circular economy.
This important milestone for IRC coincides with the recent
passing of the European Packaging and Packaging Waste Regulation
('PPWR'), itself paving the way for advanced recycling to be
counted as recycling. By valorising residual waste streams into
primary commodities used in the production of new materials, CPF's
investments plays a pivotal role in fostering sustainability and
decarbonization of the chemical industry.
To date the CPF has gained significant momentum, investing
in five portfolio companies (Pryme N.V., Itero Technologies
Limited, Clariter S.A., DePoly S.A., and Ioniqa B.V.) deploying
over EUR 45 million and with a strong
pipeline of transactions. IRC's unique ability to provide both
capital and operational expertise has enabled long-term value
creation, generating promising returns while making a tangible
impact on sustainability.
Jan Willem Muller, Managing
Partner at Infinity Recycling:
"The support for new technologies and their scaling up is
paramount in enabling additional capital to enter the market and
support the transition towards a circular economy. By fostering
innovation and scalability, we unlock the potential for greater
investment, accelerating our collective journey towards a more
sustainable future"
Jeroen Kelder. Managing
Partner at Infinity Recycling:
"The strong interest from institutional investors, keen to make
an environmental impact, is a clear endorsement of our
mission: catalysing the world's transition to a circular
economy of materials. We are thankful for the confidence of the
Limited Partners in our unique investment focus and quality of
execution"
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SOURCE Infinity Recycling B.V.