Infinity Recycling: Circular Plastics Fund Welcomes New Investors

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Apr 13, 2023, 04:00 ET

ROTTERDAM, Netherlands, April 13, 2023 /PRNewswire/ -- Infinity Recycling is pleased to announce the successful closing of a new round of commitments to their Circular Plastics Fund. The new investors include Vopak Ventures B.V., Westlake Innovations, a subsidiary of Westlake Corporation and Dutch multi-family office Commenda.

The Luxembourg-registered Circular Plastics Fund (CPF) has an initial target size of EUR 150 million. CPF is an Article 9 'dark green' impact fund, under the EU's Sustainable Finance Disclosure Regulation. Its investments aim to accelerate the transition to a circular economy of plastics by scaling up advanced recycling technology companies that transform plastic waste streams into primary commodities used for production of new plastics.

Walter Moone, president New Energies and LNG at Vopak: "We are pleased to partner with Infinity Recycling in our efforts to support the chemical industry to become more sustainable. Advanced recycling of plastics is a key aspect within our strategy to accelerate towards new energies and sustainable feedstocks. We believe that this will play an important role in the future of the chemical industry and are excited to contribute."

"We are very happy to welcome these new Limited Partners to our Circular Plastics Fund," said Jan-Willem Muller, Managing Partner at Infinity Recycling. "Their contributions will help us to increase our impact and support more companies with the expansion of their plastics recycling capacity. And as we focus on scaling-up successful technologies, there is limited technical risk involved and it mostly comes down to commercialisation. We are grateful for this sign of confidence support and look forward to working together to create a more sustainable future."

"Westlake is proud and glad to join the Circular Plastics Fund in its mission to repurpose plastic waste and promote a circular economy," Said John Chao, Vice President and Managing Director, Westlake Innovations. "The Fund's objectives align with our objective to seek investment opportunities in new technologies including innovative digital, mechanical or chemical applications such as carbon sequestration or recycling. We are looking forward to collaborating with the Fund and its other investors."

"By investing in innovative companies that can help repurpose plastic waste, the Circular Plastics Fund is not only helping to protect the environment but also creating new opportunities for economic growth and job creation," said Jeroen Kelder, Managing Partner at Infinity Recycling. "We are proud to be one of the key catalysts in this important transition and are pleased to see so many investors keen to be part of this effort and help accelerate the shift to a more sustainable future."

Infinity Recycling was established to create markets for end-of-life waste streams by investing in waste valorisation technologies. Their first offering, the Circular Plastic Fund, makes a significant contribution to solving the plastic waste problem and unlocking much-needed capacity in high-demand recycled commodities. The Fund implements a return-driven investment strategy that drives value creation in advanced recycling and accelerates the conversion to a circular economy for plastics.

The Circular Plastics Fund, catalyses the world's transition to a closed-loop plastics economy in which residual polymer waste streams, representing over 85% of the global plastic waste e, are converted into building blocks for the manufacturing of new plastics. The Fund's strategy aims to significantly reduce the carbon footprint of the plastics economy and contribute to eliminating the world's plastic waste problem.

Since its first closing in February 2022, the Fund has made five investments. Building on investor interest and deployment momentum, the Fund is well on its way to a final closing, projected for the second half of this year. The next subsequent closing is planned for May 2023. taking total commitments to ~70% of the Fund's target (EUR 150m).

https://infinity-recycling.com/

SOURCE Infinity Recycling