Novo Holdings and A.P. Moller Holding back CIRCTEC in €150m raise for Delfzijl tyre‑pyrolysis plant
- Total financing €150 million, with €75 million equity led by Novo Holdings and A.P. Moller Holding.
- Includes €22.5 million of grants from Netherlands government agencies (RVO and Groningen Province).
- Delfzijl plant will process roughly 5% of Europe’s 3.6 million tonnes of end‑of‑life tyres and has full offtake agreements with BP and Birla Carbon.
- Outputs: sustainable marine fuel (HUPA), circular naphtha and recovered carbon black; plant could cut emissions ≈3% of the Netherlands chemical sector.
Financing and investors
Novo Holdings and A.P. Moller Holding led a €150 million fundraise for CIRCTEC with a combined €75 million equity investment. The round also includes €22.5 million of grants from Dutch agencies, supported by the Netherlands Enterprise Agency (RVO) and Groningen Province.
Project and capacity
The funding will build Europe’s largest end‑of‑life tyre pyrolysis recycling facility in Delfzijl, the Netherlands. At full capacity the plant will be able to tackle roughly 5% of the 3.6 million tonnes of end‑of‑life tyres generated in Europe each year.
Technology and commercialisation
CIRCTEC uses proprietary pyrolysis to convert tyres into upgraded recycled chemicals and renewable fuels, producing its HUPA sustainable marine fuel, circular naphtha and recovered carbon black. Long‑term offtake agreements with BP (HUPA and naphtha) and Birla Carbon (recovered carbon black) mean the Delfzijl plant’s entire output is pre‑sold.
Environmental and regional impact
The company positions the plant as a scalable circular solution to rising tyre waste—much of which is currently incinerated or exported—and says the facility could reduce emissions by the equivalent of about 3% of the greenhouse gas emissions of the entire Dutch chemical industry sector, while creating local jobs and industrial activity in Chemport Delfzijl.
Source: Circtec