New European fund to provide access to finance to innovative circular bioeconomy companies

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Type of post: NEWS.

The European Commission (EC) and the European Investment Bank (EIB) have announced the selection of an investment advisor to set up and manage the European Circular Bioeconomy Fund (ECBF). The fund aims to provide financing for innovative circular bioeconomy companies and projects in the EU and in countries associated with the Horizon 2020 programme.
Press release: “A European fund to support the circular bioeconomy”, 29/11/2019.

Figure 1. ECBF focused strategy targets: five transformational investment fields

The selected investment advisor is ECBF Management GmbH and Hauck & Aufhäuser Fund Services S.A. will act as the Alternative Investment Fund Manager. The new fund will provide access to finance (in the form of equity, debt or quasi-equity) to innovative circular bioeconomy companies and projects of various sizes.

ECBF Management will raise funds from public and private investors with a target fund volume of 250 M€ and aims for a first close in Q1 2020. A proposal for the EIB to invest up to 100 M€ in the fund will be submitted to the EIB’s Board of Directors for approval. This investment will be backed by a guarantee from InnovFin – EU finance for Innovators, an initiative of the EIB Group and the European Commission to facilitate access to finance for innovation and research through a wide range of financing tools and advisory services.

The ECBF will be focused on five transformational investment fields:
1. Circular Economy / Business Model
Reduction, resource efficiency, re-use, re-cycle, waste stream utlization, supply chain, digitalization
2. Enabling Process Technologies
Biorefineries & conversion technologies
3. Biomass Production
Increase output & decrease footprint: agro, farming, forestry, blue economy
4. Bio-based Materials
Building blocks, polymers, fibers, composites
5. Performance Biologicals
Personal care, nutrition, specialties

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