The loan will be invested in new recycling lines. Credit: Sigmund via Unsplash.

Finnish company Wastewise Group has secured a capital loan of €4.2m ($4.58m) from the Climate Fund to support its facility investment programme in Finland.

The loan will help increase the reuse rate of hard-to-recycle plastics significantly and will also contribute to the construction of new recycling lines.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The company’s total facility investment programme amounts to nearly €12m.

Aside from the loan from the Climate Fund, Wastewise received equity financing from Taaleri Sijoitus.

In addition, €0.85m has been secured for the company’s chemical plastic-recycling plant in Nokia, Finland.

See Also:

Wastewise Group is a privately owned circular economy company that was established last year following Wastewise’s merger with Suomen Kiertoketju.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company’s pyrolysis technology recycles hard-to-recycle plastics and produces oil as a result, which it says can replace crude oil in the production of plastic and other chemicals.

Wastewise Group’s CEO Kaisa Suvilampi said: “For the past few years, Wastewise has developed its own pyrolysis technology and business concept in the rapidly developing sector of plastic recycling. Our investments have borne fruit and our plant in Nokia is the first plastics recycling facility in Finland to use pyrolysis in industrial-scale production.

“The chemical recycling technology we have developed enables the use of recycled plastic raw material also in demanding applications, such as food plastics or applications in the pharmaceutical industry, because chemically recycled plastic raw material corresponds in its properties to virgin raw material and does not deteriorate in circulation, like mechanically recycled plastic raw material.”

The company is currently building new recycling plants across Finland.