Circtec raises 150 million euros, Bora Carbon Black participates in the investment

Recently, Circtec, a British waste tire pyrolysis company, successfully raised 150 million euros in funding, which will be used for its flagship factory in the Delfzijl region of the Netherlands. It is reported that the plant will become the largest waste tire pyrolysis plant in Europe, and its construction was officially launched on May 17.

During this financing process, Novo Holdings and AP Moller Holding jointly invested 75 million euros in equity investment. At the same time, the Dutch government also awarded a grant of 22.5 million euros. In addition, British Petroleum Company (BP) and Bora Carbon Black have also become important investors in this project.

According to the Carbon Black Industry Network, when operating at full capacity, this factory can process up to 200,000 tons of waste tires every year, which accounts for about 5% of the 3.6 million tons of waste tires in Europe every year. Circtec's unique waste tire conversion process converts waste tires into renewable "no-add" marine fuels, recycled naphtha petrochemical feedstocks, and recycled carbon black.

Previously, Circtec has reached a long-term supply agreement with BP to continue to provide the energy giant with sustainable bunker fuel and recycled naphtha products. At the same time, the company has also signed a long-term supply contract with Bora Carbon Black Company to supply recycled carbon black. The use of sustainable carbon black supplied by Circtec will help Bora Carbon Black further expand its tire customer range.