Circular Industries (‘CI’) is pleased to announce the successful completion of an early-stage funding round of €2 million. This funding, led by three leading investors, Orchard Participations, EIT InnoEnergy, and Impuls Zeeland, marks a significant step forward for CI’s ambitious project, the Urban Mining Factory – Printed Circuit Boards (‘UMF-PCB’).
Circularity and Geopolitical Independence as Core Values
Circular Industries’ UMF-PCB project has two crucial pillars: circularity and geopolitical independence. This initiative aims to maximize the recovery of Critical Raw Materials from low-value discarded printed circuit boards through a unique process not yet employed elsewhere in the world. By recovering these critical raw materials, CI contributes to sustainability and ensures the availability of resources for future generations. At the same time, it reduces the European Union’s dependency on external suppliers, especially in a time when geopolitical issues are putting supply chains under pressure.
Investors Recognize the Potential
Early-stage funding has been made possible by three forward-thinking investors who share CI’s vision.
Boudewijn Poelmann, Founder of Orchard Participations, said, “Recovering metals from printed circuit boards contributes to a more sustainable world and the careful management of metals that are becoming rare and important for the energy transition.”
Roel van Diepen, Investment Director EIT InnoEnergy Benelux, added, “Securing the availability of scarce raw materials within the EU is becoming an increasingly relevant theme in EIT InnoEnergy’s investment policy. This will be one of the keys to an independent and improved European industrial ecosystem. With their innovative and patented process, Circular Industries will locally recycle metals relevant to the energy transition in a cleaner and more efficient manner than existing processes. InnoEnergy will use its unique innovation ecosystem to support the project and stakeholders.”
Rosco Ephraïm, Investment Manager at Impuls Zeeland, stated, “As a Regional Development Company, we strongly believe in promoting sustainable and innovative ideas from entrepreneurs. CI’s efforts to make the Zeeland economy more sustainable align perfectly with our mission.”
The Future of Circular Industries in Europe
With this early-stage funding, Circular Industries can complete the process and project validation phases of the UMF-PCB. This will pave the way for the financing and construction of the first Urban Mining Factory, with a leading role from a prominent Dutch bank.
The Urban Mining Factory demonstrates that sustainability, circularity, and geopolitical independence can go hand in hand. It serves as a shining example of how innovation and collaboration can lead to a better future for the EU and the rest of the world.