Infinity Recycling, a Dutch growth equity investor, has joined forces with Blue Invest and the European Investment Fund (EIF) to address the escalating global plastic waste issue. With global plastic usage projected to double by 2050, there is a demand for sustainable and expandable recycling technologies.

Source: PackagingInsights

Blue Invest, an EU initiative supporting sustainable and innovative technologies for the blue economy, collaborates with Infinity Recycling. Together, they aim to pinpoint new investment prospects within the Blue Invest project lineup, concentrating on initiatives that can diminish the flow of plastic waste into marine ecosystems.

Infinity Recycling has obtained €50 million (US$ 54.6 million) in funding from InvestEU through the EIF. This financial injection will be directed towards advanced recycling technologies to enhance plastic waste recycling and render it profitable.

Blue Invest brings different stakeholders together, providing a platform to share experiences and best practices with other investors. The fight against climate change has gained significant momentum which means that there is a lot of support available for the right ideas

Advancing Technologies with Funding

In May, Infinity Recycling concluded its Circular Plastics Fund totaling €175 million (US$190 million). The fund's objective is to expedite the advancement of various advanced recycling projects.

Through the Circular Plastics Fund, Infinity Recycling is set to enable European enterprises to innovate and expand cutting-edge technologies capable of fully recycling plastic waste into new plastics matching the properties of virgin materials. This signifies a shift from traditional recycling approaches that often lead to plastics losing their original characteristics like food safety, material strength, or flexibility.

During the spring, EU member states ratified the new Packaging and Packaging Waste Regulation, solidifying constraints on plastic packaging for fresh produce, carrier bags, and cosmetics. In alignment with the updated regulations, the Circular Plastics Fund aspires to contribute to shaping a circular plastics industry.

By offering capital, knowledge, and access to a network of collaborators, the fund aids companies in transforming plastic waste streams into tradable assets. Initial investments vary from €5 (US$5.5) to €15 (US$16.4) million per company, showcasing a commitment to swiftly scaling solutions that can have a tangible environmental impact.

Gaining Traction

As per the European Environment Agency, individuals in Western Europe consume an average of 150 kg of plastic annually, surpassing the global average of 60 kg by over twice. Despite this, only 9% of all plastic produced has been recycled.

Despite obstacles, efforts to reduce plastic use have been gaining momentum, with sustainable alternatives growing in popularity in recent years, according to Innova Market Insight. Consequently, "plastics circularization" emerged as the leading packaging trend in 2023.

Last year, Plastics Recyclers Europe highlighted an increase in plastic recycling capacity in the EU and the UK due to significant investments. According to the organization, these new capacities could lay a stronger foundation for transitioning to a circular economy for plastics.