Investment Fund Groningen (IFG) is taking a stake in Infinity Recycling. It recently decided to invest in that platform's Circular Plastics Fund (CPF), which was established to support the circular economy. The fund encourages technology entrepreneurs to convert plastic waste streams into new raw materials. The Dutch fund already raised 135 million euros, supporting companies that want to scale up from a demo plant to a commercial production facility.
For IFG, the investment is obvious, says fund manager Jan Timmer. ,,We want to move from fossil to circular and sustainable in Groningen and are always looking for the best way to achieve that goal. Setting up production sites in green chemistry is enormously capital intensive, so it makes sense that we look to funds like the CPF. Especially also because there is not only money there, but also expertise and advice that entrepreneurs in Groningen can make use of.''
The CPF has already invested in successful companies in recent years, such as Pryme NV. That will open this year the largest plant in the advanced recycling industry in Rotterdam, converting plastic waste into green, petrochemical products. And Clariter, which plans to build a large plant in Delfzijl that converts plastic waste into sustainable oils, waxes and solvents, applicable in printer ink, detergents, paints and cosmetics, among others, is also supported by the fund.
We are convinced that Eemshaven plays an important role in plastic recycling and in the whole green industry.
Jeroen Kelder, managing partner at Infinity Recycling
''The northern Netherlands is an important region for us,'' says Jeroen Kelder, managing partner at Infinity Recycling. ''That's why the IFG's investment is very welcome. It gives us a direct link to the area, and gives us a better picture of opportunities and challenges. We are convinced that Eemshaven plays an important role in plastic recycling and in the entire green industry, not least because green energy is still available there.''
Together, the funds believe they can make more headway in greening the industry. With its participation, the Investment Fund Groningen will have more scope and the opportunity to refer promising projects directly to the larger Circular Plastics Fund. Conversely, the CPF now has a local partner with a large network in the region.