European Circular Bioeconomy Fund makes first two investments

October 1, 2020 |

In Germany, CBF Management GmbH announced the first closing of the European Circular Bioeconomy Fund (ECBF). ECBF is the first venture fund exclusively focused on the bioeconomy and the circular bioeconomy in Europe. With a target size of EUR250 million, to which the European Investment Bank (EIB) has committed EUR100 million, ECBF will be an important financial instrument in achieving the European Green Deal goals of making Europe climate neutral by 2050.

ECBF starts operation with EUR82 million from its cornerstone investor EIB and three private investors: PreZero International GmbH, which operates in waste and recycling; Corbion NV, a global market leader in bio-based chemicals and polymers; and Hettich Beteiligungen GmbH, a successful investor in sustainable business and services. ECBF’s shared public-private investor base is a testament to the opportunities in the European bioeconomy.

ECBF is also pleased to report the first two investments in two innovative growth-stage companies, PeelPioneers BV and Prolupin GmbH. Both investments will support the growth and expansion of the respective businesses in Europe, thereby encouraging Europe’s transition towards a more sustainable economy. PeelPioneers uses pioneering technology to provide a 100% circular solution for orange peel, turning it into products like orange oils, dietary fibers, and animal feed. From regionally grown Lupines, Prolupin produces high-quality plant-based proteins, which are being formulated into non-dairy alternatives being marketed on the European market under the brand “Made with LUVE”.

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Category: Fuels

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