Using Itero’s proprietary pyrolysis process, the new plant will be able to tackle 27,000 tonnes of waste plastic packaging each year, converting it into new feedstock for virgin-grade recycled plastics, as well as recycled waxes and pyrolysis gas. Itero’s 1.5 tonne pilot-scale R&D plant is located near London Heathrow and has been exploring various feedstock and offtake combinations, fine-tuning the pyrolysis process to optimise the quality of its recycled products.
The majority (€5m) of the €6m investment has come via Infinity Recycling, a Rotterdam-based investment fund focused on the upscaling and commercialisation of advanced recycling technologies and growing the market for recycled polymers. Infinity Recycling’s Circular Plastics Fund (CPF) is an Article 9 ‘dark green’ impact fund, which is the highest designation under the EU’s Sustainable Finance Disclosure Regulation (SFDR).
Related content
“We are delighted that the significant potential of the technology developed by Itero is acknowledged by Infinity Recycling and other investors,” said Simon Hansford, Itero CEO.
“Maintaining public goodwill and responding to environmental concerns about plastic waste, requires a process to recycle plastic safely, sustainably, and economically. Itero is working to provide a solution to that problem.”
The site for the new plant has been strategically chosen, positioned in the Circular Hub at Brightlands Chemelot Campus, Geleen, NL. The chemicals complex is just north of Masstricht, in close proximity to both the Belgian and German borders, placing it right in western Europe’s industrial heartland. According to Itero and Infinity Recycling, the location will help foster collaborative R&D on product and technology to increase circularity of waste.
“Infinity Recycling is excited to anchor this investment round and help Itero with the upscaling of its technology and process,” Jeroen Kelder, managing partner at Infinity Recycling.
“We have known Itero and the team for over three years and have supported them in a wide range of areas. The 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.”
AI-generated medical responses need monitoring, study finds
This would negate most of the benefit of using AI in the first place, rather like the Locomotive Act 1865 that required any self-propelled road...