CIRCTEC funding news – Recycling Startup CIRCTEC Secures €150 Million in Funding

With the funding raised, CIRCTEC will construct Europe’s largest end-of-life tyre pyrolysis recycling facility in Delfzijl, the Netherlands. At full capacity, the Delfzijl plant will be able to tackle approximately 5% of the 3.6 million tons of end-of-life tyres that are generated in Europe annually.

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It’s technology offers a scalable solution to the global tyre waste problem by embracing circularity and reducing greenhouse gas emissions, with the new Delfzijl plant set to be capable of reducing emissions by the equivalent of circa 3% of the greenhouse gas emissions of the entire chemical industry sector of The Netherlands.

Allen Timpany, Co-founder and CEO of CIRCTEC, said: “We are very pleased to welcome Novo Holdings and A.P. Moller Holding to our board to continue our growth journey together. The success of this new investment round gives us the partners that will enable us to take CIRCTEC to the next level in realising our goal of scaling sustainability. Bringing our technology to a global scale will generate meaningful contributions to the sustainability of the planet.”

Anders Spohr, Senior Partner, Bioindustrial Investments, Novo Holdings, said: “CIRCTEC is the global leader in end-of-life tyre pyrolysis, and thanks to its unmatched proprietary technology, the Company is on a rapid growth trajectory that will now be further accelerated. In addition to having a strong technology platform, the team shares Novo Holdings’ firm belief in circularity as a key component in advancing planetary health by enabling the green transition of society. I look forward to the collaboration with the
CIRCTEC leadership as well as the highly esteemed investor group.”

Chetan Mehta, Head of Growth Equity, A.P. Moller Holding, said: “The overall green transition of our societies will require trillions of dollars to be invested in the coming years and decades. Capital at this scale can only be activated if investor returns are commensurate for the risks taken. At A.P. Moller Holding, we are committed to investing in and building businesses with a positive impact on society. We believe CIRCTEC satisfies both our purpose and return requirements, and we are excited to be investing in the business and partnering with the management team to build a world-class pyrolysis platform.”

Hilde van der Meer, Commissioner of The Netherlands Foreign Investment Agency (NFIA), said: “The funding raised enables CIRCTEC to start realisation of the new plant in Delfzijl, which will bring a solution that produces circular chemical products from tyre waste. As NFIA, we welcome and applaud these types of smart, sustainable solutions for the future that strengthen the Dutch circular economy. The CIRCTEC plans also signify an important long-term commitment to the local region of Delfzijl and Chemport in bringing valuable jobs and innovative opportunities. I am happy that the Dutch government and Groningen province were able to support CIRCTEC in bringing this new solution to fruition.”

About CIRCTEC

CIRCTEC is a leading innovator and operator of pyrolysis technology to recycle waste into renewable fuels and circular chemicals, in order to support the energy transition and the move to a circular economy. The CIRCTEC group has a footprint across five countries in Europe, with 2 commercial demonstration plants operating today and a third flagship scale plant under development in the Netherlands.

In addition to production plants, it's group includes both design & engineering and research & development units, with an ongoing focus not just on scaling the CIRCTEC process for chemical recycling of tyre waste,
but also on adapting the process to other waste feedstocks. Founded in 2009 by British industrial decarbonisation entrepreneurs Allen Timpany and Robert Harper.