Rotterdam funds sustainable start-up for recycling plant
Xycle, a recycling technology start-up, has secured financing from the Port of Rotterdam to build its first commercial-scale plant.
The funding reportedly includes equity investment from Dow, ING, Invest-NL (partly covered by InvestEU), and Vopak, as well as senior debt from Polestar Capital.
The plant, projected to be fully operational by Q4 2026, will treat 21,000 metric tonnes of plastic waste yearly.
Arnd Thomas, CEO of Xycle commented: “Our innovative chemical recycling technology offers a credible and scalable route to divert plastic waste from incineration, landfill or our natural environment.
“Securing funding for the construction of our facility in the Port of Rotterdam marks an important step in developing and expanding our unique pyrolysis-based technology, which has been shown to deliver best-in-class pyrolysis yield for cracker feedstock.”
The modular form of Xycle’s facilities allows production to scale up or down based on demand, offering both flexibility and efficiency in operations.
This month, the Port of Rotterdam Authority released its 2024 annual report, “Navigating to a Sustainable Future,” which highlighted an 11 per cent increase in gross investments, reaching €320.6 million ($348.7 million).