CIRCTEC Secures €150M Funding to Establish Europe's Largest Tyre Pyrolysis Recycling Facility

UK recycling startup CIRCTEC has secured a substantial €150 million in funding. This significant investment will be used to construct Europe's largest end-of-life tyre pyrolysis recycling facility in Delfzijl, the Netherlands. The funds, which include a €75 million equity investment led by Novo Holdings and A.P. Moller Holding and €22.5 million in grants from the Government of the Netherlands, underscore the importance and potential of CIRCTEC's mission.

Discarded tyres pose a significant threat to both the environment and human health. These tyres, which often end up in landfills, release toxic substances into ecosystems, contributing to pollution and other environmental issues. This underscores the urgent need for innovative solutions like those developed by CIRCTEC. 

CIRCTEC has developed a proprietary technology for decomposing old tyres through pyrolysis. This technology transforms waste into valuable circular materials via thermal decomposition in an oxygen-free environment, upgrading the products into high-quality recycled chemicals and renewable fuels.

Allen Timpany, Co-founder and CEO of CIRCTEC, said:

"We are very pleased to welcome Novo Holdings and A.P. Moller Holding to our board to continue our growth journey together. The success of this new investment round gives us the partners that will enable us to take CIRCTEC to the next level in realising our goal of scaling sustainability. Bringing our technology to a global scale will generate meaningful contributions to the sustainability of the planet."

Anders Spohr, Senior Partner, Bioindustrial Investments, Novo Holdings, said: "CIRCTEC is the global leader in end-of-life tyre pyrolysis, and thanks to its unmatched proprietary technology, the Company is on a rapid growth trajectory that will now be further accelerated."

Chetan Mehta, Head of Growth Equity, A.P. Moller Holding, said:

"The overall green transition of our societies will require trillions of dollars to be invested in the coming years and decades. Capital at this scale can only be activated if investor returns are commensurate for the risks taken."

At total capacity, the Delfzijl plant will be able to process approximately 5% of the 3.6 million tons of end-of-life tyres generated annually in Europe.