€150 million in funding was awarded to Circtec, a pioneer in pyrolysis for environmentally friendly tire disposal with headquarters in London, UK.
Invesments
- €75 million was invested in stock by Novo Holdings and A.P. Moller Holding.
- Additionally, subsidies of €22.5 million from the Dutch government were included in the funding.
Use of funds
The firm is able to build a sizable tire pyrolysis recycling factory at Delfzijl, the Netherlands, thanks to the finance.
About Circtec
In order to support the energy transition and the shift to a circular economy, Circtec was founded in 2009 by British industrial decarbonization entrepreneurs Allen Timpany and Robert Harper. Circtec is a pioneer and operator of pyrolysis technology, which recycles waste into renewable fuels and circular chemicals. With two commercial demonstration facilities already in operation and a third flagship size unit being developed in the Netherlands, the firm is present in five European nations. The organization comprises design and engineering and research and development departments in addition to manufacturing sites. Its continuous goals are to scale up its method for chemical recycling of tire waste and to modify it for use with other waste feedstocks. The company’s patented manufacturing methods, including as its CIFRTM pyrolysis reactor system, have been developed for commercial use and are now delivering circular chemical products and renewable fuel to a number of international multinational industrial partners.
