Contec S.A. Raises EUR 10 million

Tyre & Rubber Recycling
1 min readApr 12, 2023

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These funds will be used to expand the efficiency of Contec’s plant (Szczecin, Poland) almost threefold. Two investors are providing the funds: HiTech ASI, the corporate venture capital fund of Bank Gospodarstwa Krajowego, and the Warsaw Equity Group, which is the majority shareholder.

The lead investor of the round is HiTech ASI, managed by VINCI — a subsidiary of Bank Gospodarstwa Krajowego. The second investor is Contec’s major shareholder, the Warsaw Equity Group. The funds obtained (EUR 8 million — HiTech ASI and EUR 2 million — Warsaw Equity Group) will be used to increase the processing capacity of Contec’s Szczecin plant. Once completed, the plant will be able to nominally process 33,000 tons of used tires per year — three times more than today. In addition, the modernisation will increase the production capacity of post-pyrolysis oil and recovered carbon black.

Read the full story here:

https://www.tyreandrubberrecycling.com/articles/news/contec-s-a-raises-eur-10-million/

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Tyre & Rubber Recycling
Tyre & Rubber Recycling

Written by Tyre & Rubber Recycling

Tyre & Rubber Recycling is the leading B2B journal for the tyre recycling sector. You can visit our website here: tyreandrubberrecycling.com

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