The plant will be able to process 27,000 tonnes of residual plastic waste per year, which is equivalent to the total amount of plastic packaging waste generated by the population of Amsterdam municipality per year1. The patented pyrolysis process developed by Itero turns plastic waste into high-quality chemical products while diverting end-of-life plastics from landfills and incineration, reducing crude oil consumption. Chemical products are used as raw materials in the production of premium quality plastics that can be retained again and again in the circular economy through the same process.
Once again, the CEO Mr Simon Hansfordsaid, “We are delighted that the significant potential of the technology developed by Itero has been recognized by Infinity Recycling and other investors.
“Maintaining public goodwill and responding to environmental concerns about plastic waste requires a process for safe, sustainable and cost-effective plastic recycling. Itero is working to provide a solution to this problem.”
This investment is a continuation of a long-standing relationship between Itero and Infinity Recycling, a Rotterdambased investment manager focused on helping promising advanced recycling companies scale up and commercialize their technologies and grow the market for recycled polymers. CPF, an Article 9 ‘dark green’ impact fund, the highest designation under the EU’s Sustainable Finance Disclosure Regulation (SFDR), is committed to driving ESG impact.
“Infinity Recycling is excited to anchor this investment round and help Itero upgrade its technology and process. We have known Itero and the team for over three years and have supported them in a wide range of areas. Circular Plastic Fund’s capital commitment is the next step in our strong collaboration and paves the way for the next phase in Itero’s exciting evolution.” Jeroen Kelder – Managing partner, Infinity Recycling BV
Since 2010, Itero has been developing its expertise in thermal conversion technology (pyrolysis) and its application to turn waste into a resource. Complementing traditional recycling methods, Itero diverts plastics from landfills and incineration while increasing recycling rates and reducing dependence on crude oil. The process effectively closes the loop in the raw plastic supply chain. Itero’s patented technology is a large-scale, modular, proprietary technology that converts difficult-to-recycle waste plastic back into chemical feedstock for brand new round plastic products. While developing its first large-scale demonstration plant in Sittard-Geleen, Itero is conducting raw material and product trials at its UK R&D facility located near Heathrow.
About Infinity Recycling
Infinity Recycling was created by Jan Willem Muller and Jeroen Kelder to introduce a return-oriented approach to sustainability. The team’s experience in commodity trading and corporate finance provides significant value to technology companies, helping to turn valuable IP into a profitable, scalable business. Infinity Recycling creates markets for end-of-life waste streams by investing in advanced recycling technologies. Ensuring appropriate waste streams and managing the marketing of produce through pricing options and structuring robust and scalable offtake contracts put into practice a return-oriented approach to sustainability. Converting waste into chemical feedstock enables a circular economy and generates significant, measurable financial and environmental returns.
1 27,000 tonnes equals 99.2% of the average plastic packaging waste produced by a Dutch citizen per year, multiplied by the municipality’s population Amsterdam.
https://www.statista.com/statistics/972801/plastic-packaging-waste-per-capita-in-the-netherlands/ https://opendata.cbs.nl/statline/#/CBS/nl/dataset/ 37230ned/table?ts=1578685738191
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SOURCE Itero Technologies; Infinity Recycling BV