Infinity Recycling | ANNOUNCEMENTS
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ROTTERDAM, Feb 11, 2022

Global Plastic Supply Chain Investors Line-up at First Close of Infinity Recycling's Circular PlasticsFund, Backing Companies Converting Waste toPrimary Commodities to Reverse Pollution Crisis

ROTTERDAM, Feb 11, 2022 - Infinity Recycling's Circular Plastics Fund, which will invest in companies scaling up proven advanced recycling technologies to break down surging plastic waste flows....

into primary commodities to be reused in perpetuity by the industryas inputs for new products, has received strong backing at its first capital close from global plastic supply chain investors, as well as Invest-NL, the Dutch investment agency.

Investors include U.S. petrochemical companies, Chevron Philips Chemical and LyondellBasell, Singapore-based global materials organisationIndorama and Invest-NL, which have initially committed over EUR 40 million to the fund's Rotterdam-based investment management team. The Circular Plastics Fund is an Article 9 'dark green' impact fund, the highest designation under the EU's Sustainable Finance Disclosure Regulation (SFDR), and targets a net IRR of 18% to 22%. The Luxembourg-registered fund has an initial investment target of EUR 150 million.

The ever-linear consumption of plastics is creating an 'end-of-life' waste crisis. Approximately 400 million tonnes of plastic waste are created annually, equivalent to over 35 kgs for each person on the planet,but less than 20% of this is recycled globally. The remainder ends up in landfills, incinerators, or being leaked into the environment.

Jeroen Kelder, Managing Partner at Infinity Recycling, said: "The world is being overwhelmed by plastic waste and supply continues to grow exponentially because demand isn't slowing down, which means current approaches focused on mechanical recycling will be unable to stem the tide. The Circular Plastics Fund addresses this gap in the market bysupporting companies with tried and tested advancedrecycling technologies and enabling them to scale-up."

The advanced 'upcycling' of waste complements mechanical recycling because it allows the conversion of even the most difficult plastic waste streams into valuable primary commodities and overcomes quality restrictions in the use of recycled materials in the manufacturing of new food packaging, which accounts for around 40% of global plastic demand.3 Management consultancy McKinsey estimates that the global market for advanced recycling plastic will reach 500 million tonnes per year by 2050, generating more than USD 300 billion in revenues and could account for around 40% of total virgin feedstock supply for new products.

Jan-Willem Muller, Managing Partner at Infinity Recycling, said: "We believe that locally sourced waste can be utilised within the existing petrochemical market infrastructure, and that is the fastest and most scalable solution for this existential crisis. It is very appropriate, therefore, that our Circular Plastics Fund has successfully completed its first capital close in the 'Week of the Circular Economy' in the Netherlands."

Global Plastic Supply Chain Investors and Invest-NL Commit to Circular Plastics Fund

Wouter Bos, Invest-NL CEO, said: "Invest-NL is backing Infinity Recycling's Circular Plastics Fund as a cornerstone investor because the fund will invest in innovative technologies that enable the industry to increase the amount of high quality recycled plastics from low quality plastic waste streams. This fits our goal of creating a more circular and sustainable Dutch economy."

Benny Mermans, Vice President of Sustainability at Chevron Phillips Chemical (CPChem) said: "Our company is committed to ensuring plastics continue to deliver societal benefits without having a negative impact on the environment by producing our life-enriching products sustainably, leaving behind the lightest footprint and enabling others to do so as well. Plastic waste is a valuable resource and keeping it in the loop as long as possible will contribute to the creation of a circular economy for plastics. Through this investment in Infinity Recycling's Fund, our company aims to support the most promising advanced recycling technologies, connect the value chain and prove the complementarity of mechanical and advanced recycling, all important steps to accelerate change for a sustainable future."

Richard Roudeix, Senior Vice President Olefins and Polyolefins, EMEA and India at LyondellBasell concluded: “We believe collaboration across the value chain is critical to our joint success as we seek to end plastic waste in the environment. LyondellBasell's commitment to Infinity Recycling, our first fund investment in Europe, reflects our dedication to accelerate efforts to achieve a circular economy for plastics by catalyzing further investment in recycling technologies. Plastics enable a modern society and are essential to developing a more sustainable world. Through this fund, we aim for society to continue to realise the benefits of these materials by supporting the continued development of recycling technologies to increase the recyclability of plastic waste."

New Amsterdam is the placement agent for the Circular Plastics Fund; Loyens & Loeff the legal advisors, Mazars Group provided audit and tax advisory and Sustainable Capital Group advised on sustainability-related compliance. Trustmoore Luxembourg is the fund's administrator.

Infinity Recycling's Circular Plastics Fund Steps Into Europe's Largest Plastic Waste Advanced Recycling Project in Rotterdam with Investment in Pryme

ROTTERDAM, May 4th, 2022

Infinity Recycling's Circular Plastics Fund, has invested in Europe's single largest advanced recycling project for plastic waste being developed in Rotterdam via….

https://pryme-cleantech.com/

a private share placement in Pryme N.V., the cleantech developer of the technology for the plant. Pryme is listed and publicly traded on the Euronext Growth Market in Oslo. The EUR 6.3 million investment represents 40% of the private placement and provides Infinity Recycling's Circular Plastic Fund with a 20% stake in the company.

This is the first investment by the Circular Plastics Fund, which backs companies scaling up proven advanced recycling technologies to break down surging plastic waste flows into primary commodities, which can then be reused in perpetuity by the industry as inputs for new products. The Fund completed a successful initial capital raise in February where it received strong backing from global plastic supply chain investors and Invest-NL, the Dutch investment agency.

The Pryme plant, which is under construction in Rotterdam, is due to start commissioning in the fourth quarter of 2022 and will process about 40,000 tonnes of waste plastic annually once fully operational. Over the next five years, the Pryme technology will be rolled out in plants in Rotterdam and other key petrochemical hubs in Northwestern Europe, adding a further 160,000 tonnes in production capacity.

Jan-Willem Muller, Managing Partner at Infinity Recycling, said: “We are immediately putting to work the capital we have raised for the Circular Plastics Fund in one of the most pioneering advanced recycling projects in Europe. While there are other sites with greater capacity, these are processing modules linked together, and Pryme's Rotterdam development is going to be the largest single reactor in Europe. We need to develop many more advanced recycling plants of this scale to tackle the 'end-of-life' waste crisis created by the ever-linear growth in the consumption of plastics.”

The Pryme facility uses 'pyrolysis' technology, an efficient advanced recycling process which converts about 70% of the mixed plastic waste into a secondary raw material, pyrolysis oil, which can be used by the chemicals industry within existing infrastructure as a substitute for naphtha, the key component in the production of new plastic products. The energy used in the pyrolysis process produces around 70% lower carbon emissions than incineration, together with landfill and environmental leakage the main end-destinations for 80% of plastic waste globally, and represents around a 40% to 60% cut in CO2 emissions compared with the production of virgin feedstock from fossil fuels.

Pryme estimates more than 10 million tonnes of European plastic waste annually is suitable as feedstock for recycling in its plants and the technology will in the future make a significant contribution to the EU's target of 50% of plastic packaging waste being recycled in Europe by 2025. Dutch independent research organisation TNO estimated in 2021 that 92,000 tonnes of CO2 emissions a year could be avoided by chemical recycling (pyrolysis) of plastic waste versus incineration (energy recovery) for each Pryme reactor line of 40,000 tonnes.

Approximately 400 million tonnes of plastic waste, equivalent to over 35 kgs for each person on the planet, are created annually. Less than 10% of this is recycled globally. Management consultancy McKinsey & Co. estimates that the global market for advanced plastic recycling will reach 500 million tonnes per year by 2050, generating more than USD 300 billion in revenues and could account for around 40% of total virgin feedstock supply for new products.

The advanced 'upcycling' of waste complements mechanical recycling as it allows the conversion of even the most difficult plastic waste streams into valuable primary commodities and overcomes quality restrictions in the use of recycled materials in the manufacturing of new food packaging, which accounts for around 40% of global plastic demand. When plastics are mechanically recycled around six times, they also become unusable for producing new products.

Johannes van der Endt, Founder and CEO of Pryme, said: “The investment by Infinity Recycling's Circular Plastics Fund will allow Pryme to complete its advanced recycling plant in Rotterdam and takes us a big step closer to a true low carbon circular market for plastics at the heart of Europe's petrochemical industry. It enables a validation of our low carbon technology on industrial scale by the end of this year, which will be followed by an ambitious rollout across Europe and around the world, in collaboration with our strategic partners. “

Infinity Recycling's Circular Plastics Fund is an Article 9 'dark green' impact fund, the highest designation under the EU's Sustainable Finance Disclosure Regulation (SFDR), delivering significant CO2 reductions, while targeting a net IRR of 18% to 22%. The Luxembourg-registered fund has an initial investment target of EUR 150 million.

Ends

Media contacts:

Bellier Communication

pryme
pryme

Infinity Recycling's Circular Plastics Fund Steps Into Europe's Largest Plastic Waste Advanced Recycling Project in Rotterdam with Investment in Pryme

ROTTERDAM, May 4th, 2022

Infinity Recycling's Circular Plastics Fund, has invested in Europe's single largest advanced recycling project for plastic waste being developed in Rotterdam via….

https://pryme-cleantech.com/

a private share placement in Pryme N.V., the cleantech developer of the technology for the plant. Pryme is listed and publicly traded on the Euronext Growth Market in Oslo. The EUR 6.3 million investment represents 40% of the private placement and provides Infinity Recycling's Circular Plastic Fund with a 20% stake in the company.

This is the first investment by the Circular Plastics Fund, which backs companies scaling up proven advanced recycling technologies to break down surging plastic waste flows into primary commodities, which can then be reused in perpetuity by the industry as inputs for new products. The Fund completed a successful initial capital raise in February where it received strong backing from global plastic supply chain investors and Invest-NL, the Dutch investment agency.

The Pryme plant, which is under construction in Rotterdam, is due to start commissioning in the fourth quarter of 2022 and will process about 40,000 tonnes of waste plastic annually once fully operational. Over the next five years, the Pryme technology will be rolled out in plants in Rotterdam and other key petrochemical hubs in Northwestern Europe, adding a further 160,000 tonnes in production capacity.

Jan-Willem Muller, Managing Partner at Infinity Recycling, said: “We are immediately putting to work the capital we have raised for the Circular Plastics Fund in one of the most pioneering advanced recycling projects in Europe. While there are other sites with greater capacity, these are processing modules linked together, and Pryme's Rotterdam development is going to be the largest single reactor in Europe. We need to develop many more advanced recycling plants of this scale to tackle the 'end-of-life' waste crisis created by the ever-linear growth in the consumption of plastics.”

The Pryme facility uses 'pyrolysis' technology, an efficient advanced recycling process which converts about 70% of the mixed plastic waste into a secondary raw material, pyrolysis oil, which can be used by the chemicals industry within existing infrastructure as a substitute for naphtha, the key component in the production of new plastic products. The energy used in the pyrolysis process produces around 70% lower carbon emissions than incineration, together with landfill and environmental leakage the main end-destinations for 80% of plastic waste globally, and represents around a 40% to 60% cut in CO2 emissions compared with the production of virgin feedstock from fossil fuels.

Pryme estimates more than 10 million tonnes of European plastic waste annually is suitable as feedstock for recycling in its plants and the technology will in the future make a significant contribution to the EU's target of 50% of plastic packaging waste being recycled in Europe by 2025. Dutch independent research organisation TNO estimated in 2021 that 92,000 tonnes of CO2 emissions a year could be avoided by chemical recycling (pyrolysis) of plastic waste versus incineration (energy recovery) for each Pryme reactor line of 40,000 tonnes.

Approximately 400 million tonnes of plastic waste, equivalent to over 35 kgs for each person on the planet, are created annually. Less than 10% of this is recycled globally. Management consultancy McKinsey & Co. estimates that the global market for advanced plastic recycling will reach 500 million tonnes per year by 2050, generating more than USD 300 billion in revenues and could account for around 40% of total virgin feedstock supply for new products.

The advanced 'upcycling' of waste complements mechanical recycling as it allows the conversion of even the most difficult plastic waste streams into valuable primary commodities and overcomes quality restrictions in the use of recycled materials in the manufacturing of new food packaging, which accounts for around 40% of global plastic demand. When plastics are mechanically recycled around six times, they also become unusable for producing new products.

Johannes van der Endt, Founder and CEO of Pryme, said: “The investment by Infinity Recycling's Circular Plastics Fund will allow Pryme to complete its advanced recycling plant in Rotterdam and takes us a big step closer to a true low carbon circular market for plastics at the heart of Europe's petrochemical industry. It enables a validation of our low carbon technology on industrial scale by the end of this year, which will be followed by an ambitious rollout across Europe and around the world, in collaboration with our strategic partners. “

Infinity Recycling's Circular Plastics Fund is an Article 9 'dark green' impact fund, the highest designation under the EU's Sustainable Finance Disclosure Regulation (SFDR), delivering significant CO2 reductions, while targeting a net IRR of 18% to 22%. The Luxembourg-registered fund has an initial investment target of EUR 150 million.

Ends

Media contacts:

Bellier Communication

CIRCULAR, IMPACTFUL AND PROFITABLE

Infinity Recycling creates markets for end of life waste streams by investing in advanced recycling technologies and connecting the value chain.

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