• Novo Holdings and A.P. Moller Holding have enabled a €150 million fundraise for CIRCTEC by leading with a €75 million equity investment. Financing includes €22.5 million of grants awarded by the Government of the Netherlands.
• The funding enables CIRCTEC to construct Europe’s largest end-of-life tyre pyrolysis recycling facility in Delfzijl, the Netherlands.
• The construction of the new plant was announced on 17th May at a ceremony attended by offtake parties BP and Birla Carbon and by agencies of the Government of the Netherlands that contributed grant finance – The Netherlands Enterprise Agency (RVO) and Groningen Province.

Discarded tyres pose significant environmental and health risks, accumulating in landfills, and polluting ecosystems with toxic substances. The current scale of tyre waste exceeds the reach of existing recycling efforts, with over half of Europe’s waste being incinerated or being exported to Asia and Africa for environmentally damaging disposal, underscoring the vital need for innovative solutions in tyre waste management. Moreover, the increasing adoption of electric vehicles will further exacerbate the tyre waste problem as tyres used for electric vehicles wear down faster.

CIRCTEC, a UK-headquartered technology company, has developed a proprietary technology for decomposing old tyres through pyrolysis, (a process that transforms waste into valuable circular materials through thermal decomposition in an oxygen-free environment), and for upgrading the products to high-quality recycled chemicals and renewable fuels.

With the funding raised, CIRCTEC will construct Europe’s largest end-of-life tyre pyrolysis recycling facility in Delfzijl, the Netherlands. At full capacity, the Delfzijl plant will be able to tackle approximately 5% of the 3.6 million tons of end-of-life tyres that are generated in Europe annually.

CIRCTEC’s technology offers a scalable solution to the global tyre waste problem by embracing circularity and reducing greenhouse gas emissions, with the new Delfzijl plant set to be capable of reducing emissions by the equivalent of circa 3% of the greenhouse gas emissions of the entire chemical industry sector of The Netherlands.

In its pyrolysis process, CIRCTEC produces (i) its proprietary sustainable marine fuel HUPA^TM, (ii) circular naphtha for responsibly-sourced plastics, polymers and chemicals, and (iii) high-quality recovered carbon black for use back into tyres, rubber and plastics manufacturing.

CIRCTEC previously announced long-term offtake agreements with BP for its sustainable marine fuel and circular naphtha products, and with one of the largest global producers of carbon black, Birla Carbon, for the recovered carbon black. This means the entire output of the new plant being constructed at Delfzijl is fully sold.