BioBTX Raises Over €80 Million to Establish the World's First Renewable Aromatics Facility

BioBTX, a trailblazer in renewable aromatics technology based in the Netherlands, has successfully garnered over €80 million to establish its first large-scale production facility. This funding will drive the construction of the world's inaugural plant dedicated to generating sustainable aromatics (BTX) using BioBTX's proprietary ICCP Technology, which processes plastic waste and biomass.

This initiative places BioBTX at the forefront of developing a circular chemical industry, aiming to cut carbon emissions and drastically reduce dependence on fossil fuels. Aromatics are crucial for manufacturing everyday items such as insulating foams, coatings, PET bottles, batteries, and pharmaceuticals. BioBTX's approach offers a sustainable alternative to traditional fossil sources, paving the way for circular business models in the chemical sector.

Since its inception in 2012, the Groningen-based company has been focused on expanding its revolutionary ICCP technology. The upcoming PETRA Circular Chemicals Plant in Delfzijl will have the capacity to transform 20,000 tons of mixed plastic waste per year into renewable aromatics, thereby substituting fossil resources and converting low-value plastic waste into high-value chemicals. Upon successfully demonstrating its production capabilities, BioBTX plans to distribute its technology globally to other players in the chemical industry.

The recent funding round includes €42 million in equity from new investors such as Invest-NL, Infinity Recycling, and Covestro, along with continued support from existing shareholders like Carduso Capital, NOM, and Groninger Groeifonds. The financing package also features €15 million in debt from the Polestar Capital Circular Debt Fund, €4 million from the Province of Groningen, a €14 million grant from the Dutch Government via RVO, and other subsidies. Notably, the investment from Invest-NL is partially supported by the European Commission's InvestEU program, which backs initiatives that align with EU policy priorities.

This substantial financial endorsement during a challenging investment climate underscores the market's confidence in BioBTX's innovative solutions. These solutions aim to make circular chemistry viable by developing technologies that foster a circular economy.