European Investment Bank (EIB) Commits Up to $ 20M to Invest

SINGAPORE, April 26, 2022 (GLOBE NEWSWIRE) –Circulate Capital, the Singapore-based investment management firm financing high-growth opportunities at the nexus of climate-tech and plastics, recycling and the circular economy, announced today that the European Investment Bank (EIB) has committed up to $ 20 million to the Circulate Capital Ocean Fund IB (CCOF IB), which invests both into disruptive innovations aligned with Circulate Capital Disrupt (CCD), the firm’s climate-tech strategy, and into the South and Southeast Asia recycling value chain, alongside the firm’s $ 112M Circulate Capital Ocean Fund (CCOF I). CCOF IB is targeting a total raise of USD $ 80 million and is therefore in consideration with other investors, as recently disclosed by the International Finance Corporation (IFC).

European Investment Bank’s Vice-President Ricardo Mourinho Félixsaid: “Preserving the health of our oceans is key to tackle the climate challenges and preserve our economic prosperity. Through the EIB’s Climate Bank Roadmap and Clean and Sustainable Ocean Program, we are committed to investing in climate action and environmental sustainability around the world. In particular, we want to support projects aiming at reducing climate, by recycling and reusing plastics, so that we can ensure a better future for all. I am therefore very pleased to back initiatives that make this financially viable, such as the Circulate Capital. Ocean Fund IB. “

The fund’s inaugural investments are innovators that implement solutions in the biotechnologies, sustainable fashion, and smart materials sectors, as well as digitization of the recycling value chain to combat plastic waste and climate change. These enterprises include Arzeda, Circ, Phase Change Solutions and Recykal –they represent some of today’s most cutting-edge innovations that are disrupting a cross-section of supply chains and have proven technologies and ambitions to expand in Asia where there is strong potential for financial, environmental, and social returns.

“In order to advance the circular economy and mitigate the negative effects of plastic pollution on climate change, we need to scale investment dollars into this sector immediately. The European Investment Bank’s commitment to CCOF IB is a key indicator that the sector is ready for institutional capital, “said Rob Kaplan, CEO and Founder, Circulate Capital.” We are grateful that our investors, including global corporations, family offices, foundations and now institutions like the EIB are working together to bring investible solutions that foster and advance climate resilience to market standards. ”

In December 2021, Circulate Capital announced the $ 25M second close of CCOF IB, which followed on the June 2021 announcement of the CCD strategy and CCOF IB fund launch. CCOF IB is backed by international private investors including Builders Vision; Benjamin Duncan Group; Circocean Ltd; DF Impact Capital; Eden Impact; Huang Chen Foundation; Minderoo Foundation; Rumah Group; North-East Family Office and Twynam Investments Ltd.

About the European Investment Bank (EIB)
The European Investment Bank As the EU’s climate bank, the EIB committed to support € 1 trillion of climate action and environmental sustainability investments in the next decade. Under its Clean and Sustainable Ocean Program, of which the Clean Oceans Initiative is one important pillar, the EIB supports investments that will contribute to improving the health of the oceans and their resources.

More information about EIB’s activities to preserve the oceans.

About Circulate Capital
Circulate Capital is an investment management firm dedicated to the development of a circular economy to combat plastic pollution through inputs in high growth opportunities at the nexus of climate-tech and plastics recycling infrastructure. In 2019 we launched the Circulate Capital Ocean Fund (CCOF I) Our second fund, Circulate Capital Ocean Fund IB (CCOF IB), launched in 2021, invests both into disruptive innovations via Circulate Capital Disrupt, the firm’s climate-tech strategy and into the recycling value chain in South and Southeast Asia, alongside CCOF I. We were created in collaboration with Ocean Conservancy, and our founding investors include PepsiCo, Procter & Gamble, Dow, Danone, Chanel, Unilever, The Coca-Cola Company, Chevron Phillips Chemi cal Company LLC and Mondelēz International.

US Inquiries:
Confluence Partners
Cindy Stoller, +1 917-331-0418

Asia Inquiries:
Baldwin Boyle Group
Rebecca Smith, +65 8318 6275

EIB press contact
Anne-Laure Gaffuri, +352 691 284 679

This content was issued through the press release distribution service at Newswire.com.


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