With a target size of € 250 million, to which the European Investment Bank (EIB) has committed € 100 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 today with € 82 million from public and private parties: 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.
First investments
ECBF also reports the first 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 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.
The ECBF’s primary objective is to stimulate additional private and public capital investment to scale up innovative bio-based companies and projects. More specifically, ECBF provides equity investment to growth-stage bioeconomy and circular bioeconomy companies with high potential for innovation, favourable returns, and sustainable impact. ECBF is based in Luxembourg and managed by Hauck & Aufhäuser Fund Services S.A.
Leading by example
“Our fund will drive the scale-up of innovative bioeconomy companies to have a significant impact on sustainability, thereby providing attractive returns for its investors,” said Michael Brandkamp (General Partner ECBF). Olivier Rigaud (CEO of Corbion), added: “To be a true leader in the circular economy, we need to lead by example and do our part to achieve the Paris Agreement. For us, the returns we expect from investing in ECBF are not primarily monetary; this really is about driving change through excellence in innovation, that will help us preserve our planet, together.”
Image: LedyX/Shutterstock
