The European Circular Bioeconomy Fund starts operation with 82 M€

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Type of post: NEWS IN BRIEF. 

The European Circular Bioeconomy Fund (ECBF), first venture fund exclusively dedicated to the bioeconomy and the circular bioeconomy in Europe, is ready to invest in Europe's transition to a more sustainable economy. 

Figure 1. The European Circular Bioeconomy Fund starts operation with 82 M€ 

With a target size of 250 M€, to which the European Investment Bank (EIB) has committed 100 M€, 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 82 M€ 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 biobased 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 has also reported 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 one hundred per cent circular solution for orange peel, turning it into products like orange oils, dietary fibres, 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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