ITERO
Investment for Dutch chemical recycling facility / Opening delayed to late 2024
UK technology company Itero (London; www.itero-tech.com) said it has received EUR 6 mn in investments for its commercial-scale plant for chemical recycling at the Dutch chemical park, Brightlands Chemelot Campus (Sittard-Geleen; www.brightlands.com – see Plasteurope.com of 28.01.2021). EUR 5 mn of the money came from the Circular Plastics Fund run by Dutch investment firm Infinity Recycling (Rotterdam; https://infinity-recycling.com), according to the investor and recipient.

Itero said the plant is to use its proprietary pyrolysis technology and process 27,000 t/y of residual plastics waste, a volume said to equal the annual amount of plastics packaging generated by the city of Amsterdam.

A company spokesperson told Plasteurope.com that the start-up date for the plant has been delayed to late 2024 from previously announced plans to begin operations next year. No reason for the postponement was provided.

Related: Chemical recycling has a role in circular economy

The original investment target for the plant was said to be EUR 25 mn, but the company did not comment by press time on whether the latest contribution was to be part of that amount or on top of it. The announced cash injection is to be used for the plant and to run Itero, the spokesperson told PIE, and added that the company plans to build more plants and license its technology over the next half decade.
29.07.2022 Plasteurope.com [250838-0]
Published on 29.07.2022

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