Page 48 - Plastics News September 2023

EIF backs circularity in the plastics industry PLAST 2023: An

the InvestEU programme. Opening Ceremony
“For most Europeans recycling is al- Fit For Royalty
ready an integral part of their daily
lives. Establishing a true circular
economy also requires industrial solu-
tions that allow plastics to be recycled
fully, efficiently and many times over,”
said EU Commissioner for Environ-
ment, Oceans and Fisheries Virginijus
Sinkevičius. “Today’s funding through LAST 2023, international exhi-
InvestEU will help innovative Euro- Pbition for the plastics and rub-
pean companies advance a circular ber industry, is scheduled from 5
plastics industry, acting as a booster to 8 September at the Fiera Milano
for the EU’s green transition.” fairgrounds in Rho.
nvests €50 million in Infinity Recy- Jeroen Kelder, managing partner at Expectations are high for the open-
Icling’s Circular Plastics Fund Infinity Recycling pointed to the fact ing event, which will include an in-
Rotterdam-based Infinity Recycling’s that while demand for the use of re- augural conference and the ribbon-
Circular Plastics Fund, a European cycled commodities in plastics pro- cutting ceremony. The opening will
impact fund that invests in compa- duction is on the rise, only a few ad- be characterized by quality content
nies developing new processes for vanced plastics recycling technologies and the presence of prominent po-
the advanced recycling of plastics has have been able to achieve commercial litical and institutional stakehold-
announced the new closing of its Cir- scale. “While these technologies are ers, confirming the stature of the
cular Plastics Fund I, achieving €105.3 often viable, many companies lack the plastics and rubber market in the
million in committed capital. specialised financial structuring and national economy. The event is pro-
New investors in the fund include the business development skills required moted by The Innovation Alliance,
European Investment Fund (EIF) and to scale up production, source high- a project combining five interna-
GC Ventures, the corporate venture quality inputs and establish supply tional fairs — PLAST, IPACK-IMA,
capital arm of Thailand-based PTT agreements with offtake counterpar- MEAT-TECH, PRINT4ALL, and
Global Chemical Public Company ties,” he said INTRALOGISTICA ITALIA — that
(PTTGC). “Applying the circular econ- To date the fund, launched in Febru- are all showcases of excellence for
omy principle to closed-loop plastic ary 2022, has invested in four portfo- machinery, technology, and materi-
waste management, recycling, and lio companies, with three follow-on als for the manufacturing industry.
upcycling is mandatory. This includes investments. Building on the momen-
developing new solutions through tum in investor interest and deploy- On 5 September from 10:00 AM to
innovation and their market impact ment, the fund is well on its way to 12:00 noon, the inaugural confer-
to better meet people's needs,” said final closing, projected for Q4 2023. ence titled “Sustainability 5.0 for
Kamel Ramdani, senior vice president "We are pleased to have. The support plastic: scenarios and developments
of PTTGC and managing director of from new limited partners such as EIF from production to end-of-lifecy-
GC Ventures, explaining his compa- and GC Ventures, who have recog- cle” in Sala Martini of the Centro
ny's decision to invest. nised Infinity Recycling's differentiated Congressi will feature the speakers
The fund, in which the EIF has signed a investment focus,” said Jan-Willem Gilberto Pichetto Fratin, Minister of
€50 million participation, has a target Muller, managing partner at Infinity the Environment and Energy Secu-
size of €150 million, a third of which Recycling. rity, who will give the opening ad-
is now covered by the EIF’s commit- dress, and Valentino Valentini.
ment.The transaction is supported by

48 PLASTICS NEWSASTICS NEWS September 2023
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