Netherlands-based Infinity Recycling secures €105.3M for circular plastics fund
07 Sep 2023 --- Infinity Recycling, a growth capital firm investing in advanced plastics recycling technologies, is closing its Circular Plastics Fund (CPF), achieving €105.3 million (US$113 million) in committed capital. New investors in the fund include the European Investment Fund (EIF) and GC Ventures.
The CPF, with an initial target size of €150 million (US$160 million) is an impact fund under the EU’s Sustainable Finance Disclosure Regulation. Its investments aim to accelerate plastics circular economy transition by scaling up advanced recycling technology companies that transform plastic waste streams into primary commodities to produce new plastics.
The contribution of the fund’s investors is said to expedite the commercialization of the advanced recycling market, playing a role in enabling a circular economy for plastics and contributing to decarbonization across the industry.
“Sustainability is key to our business operations and our commitments,” says Kamel Ramdani, senior vice president of PTT Global Chemical and managing director of GC Ventures.
“Applying the circular economy principle to closed-loop plastic waste management, recycling and upcycling is mandatory. This includes developing new solutions through innovation and their market impact to better meet people’s needs.”
Boosting plastic circularity
Infinity Recycling says that since its fund’s launch in February 2022, the team has gained momentum and invested in four portfolio companies, with three follow-on investments, all well-positioned to deliver private equity market returns and lasting impact.
“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 recognized Infinity Recycling’s differentiated investment focus,” shares Jan-Willem Muller, managing partner at Infinity Recycling.
Infinity Recycling was established in 2019 to create markets for end-of-life waste streams by investing in advanced technologies that enable circularity in the plastics industry.
The fund implements a return and impact-driven investment strategy that drives value creation in advanced recycling and accelerates the transition to a circular economy for plastics. Building on investor interest and deployment momentum, the fund is on its way to final closing, projected for Q4 2023.
Edited by Natalie Schwertheim
