Itero gets €6m boost to scale plastic-to-product recycling in The Netherlands

Chemcycling

The Netherlands – The Circular Plastics Fund (CPF) of Infinity Recycling has invested €5 million in Itero Technologies, a provider of chemical recycling technology, to support the design and construction of Itero’s first at-scale demonstration plant at the Brightlands Chemelot Campus in Geleen, The Netherlands.

The facility will have the capacity to process 27,000 tonnes of residual plastic waste each year, which is equal to the annual plastic packaging waste production of the city of Amsterdam. By keeping end-of-life plastics out of landfills and incinerators and converting them instead into high-value chemical products, Itero’s patented pyrolysis process lowers the amount of crude oil used in production. Chemical products are used as a feedstock to create plastics with virgin quality, which can be recycled repeatedly in the circular economy using the same method.

Recycling

Itero and Infinity Recycling, a Rotterdam-based investment manager dedicated to assisting promising advanced recycling businesses with the upscaling and commercialization of their technologies and expanding the market for recycled polymers, have a long-standing partnership that is being continued with this investment. The CPF is dedicated to advancing ESG impact and is an Article 9 “dark green” impact fund, the highest classification under the EU’s Sustainable Finance Disclosure Regulation (SFDR).

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