{"id":79926,"date":"2020-10-14T06:45:03","date_gmt":"2020-10-14T04:45:03","guid":{"rendered":"https:\/\/rss.nova-institut.net\/public.php?url=https%3A%2F%2Fwww.biofuelsdigest.com%2Fbdigest%2F2020%2F10%2F01%2Feuropean-circular-bioeconomy-fund-makes-first-two-investments%2F"},"modified":"2020-10-11T17:14:22","modified_gmt":"2020-10-11T15:14:22","slug":"joint-action-for-bio-based-industries-eib-european-commission-and-ecbf-management-gmbh-launch-circular-bioeconomy-fund-with-a-target-size-of-e250-million","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/joint-action-for-bio-based-industries-eib-european-commission-and-ecbf-management-gmbh-launch-circular-bioeconomy-fund-with-a-target-size-of-e250-million\/","title":{"rendered":"Joint action for bio-based industries: EIB, European Commission and ECBF Management GmbH launch circular bioeconomy fund with a target size of \u20ac250 million"},"content":{"rendered":"<ul>\n<li><strong>Launch of the European Circular Bioeconomy Fund (ECBF), the first equity fund exclusively dedicated to the bioeconomy and the circular bioeconomy in the EU and the Horizon 2020 Associated Countries.<\/strong><\/li>\n<li><strong>First investments made in PeelPioneers B.V., a Dutch company that creates value from food waste streams, and Prolupin GmbH, developer of plant-based protein and dairy-alternatives.<\/strong><\/li>\n<\/ul>\n<p>The European Investment Bank (EIB), the European Commission and ECBF Management GmbH today announced the first closing of \u20ac82 million of <a href=\"https:\/\/www.ecbf.vc\/\" target=\"_blank\">the European Circular Bioeconomy Fund (ECBF)<\/a>, the first equity fund exclusively focused on the bioeconomy and the circular bioeconomy in the EU and Horizon 2020 Associated Countries. With a target size of \u20ac250 million, ECBF is advised by ECBF Management GmbH with Hauck &amp; Aufh\u00e4user Fund Services S.A. Luxembourg as the AIFM (Alternative Investment Fund Manager).<\/p>\n<p>The EIB, the fund\u2019s anchor investor, invested an initial \u20ac65 million into the fund and has committed a total of \u20ac100 million to the fund, backed by InnovFin \u2013 EU finance for Innovators, an initiative of the EIB Group and the European Commission to facilitate access to finance for innovation and research through financing tools and advisory services. The remainder of the first closing was committed by private investors.<\/p>\n<p>The new fund provides equity investment to innovative growth-stage bioeconomy and circular bioeconomy companies and projects. The ECBF aims to fill an important financing gap in this area by mobilising public and private investments to scale up innovative bio-based companies and projects with high potential for innovation and excellence.<\/p>\n<p>The fund made its first investments in:<\/p>\n<ul>\n<li><a href=\"https:\/\/peelpioneers.nl\/\" target=\"_blank\">PeelPioneers<\/a>, a Dutch company which uses a pioneering technology to turn waste from orange peels into essential oils, flavourings and fragrances, dietary fibre, and animal feed,<\/li>\n<li><a href=\"https:\/\/www.prolupin.com\/objectives.html\" target=\"_blank\">Prolupin<\/a>, a producer of high-quality proteins which are turned into dairy alternatives, currently marketed in Germany under the brand name \u201cMade with Luv\u201d.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.eib.org\/en\/about\/governance-and-structure\/statutory-bodies\/management_committee\/ambroise-fayolle.htm\" target=\"_blank\">Ambroise Fayolle<\/a>, EIB Vice-President, said: \u201cThe European Green Deal gives a central role to the circular economy and to food systems in Europe\u2019s transition to a climate-neutral society. The circular bioeconomy is particularly important for developing sustainable and low-carbon chemicals, materials, products and energy, but this will require scaling-up innovation and investments. The EIB is happy to join forces with the European Commission and private investors to launch the European Circular Bioeconomy Fund, Europe\u2019s first equity fund dedicated entirely to cutting-edge bioeconomy projects.\u201d<\/p>\n<p><a href=\"https:\/\/ec.europa.eu\/commission\/commissioners\/2019-2024\/gabriel_en\" target=\"_blank\">Mariya Gabriel<\/a>, European Commissioner for Innovation, Research, Culture, Education and Youth, said: \u201cThe Bioeconomy is essential to address the European Green Deal\u2019s climate and environmental-related challenges. It has the potential to drive the competitiveness, sustainable growth and renewal of our industries and to modernise our primary production systems. To be successful, the European bioeconomy needs to have sustainability and circularity at its heart. But it also needs investments. I am very happy that today the European Commission together with the EIB and private investors, is launching the first dedicated fund to support innovative bioeconomy projects &#8211; the European Circular Bioeconomy Fund.\u201d<\/p>\n<p><a href=\"https:\/\/www.ecbf.vc\/team\" target=\"_blank\">Michael Brandkamp<\/a>, Head of ECBF, said: \u201cWe appreciate the trust the European Commission, the EIB and the private LPs have given ECBF\u2019s team. In a transforming economy, we invest and partner with ambitious and visionary entrepreneurs to accelerate growth-stage companies. 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. It will be a privilege and honour for us to play an active role in the European Bioeconomy\u00b4s ecosystem working together with other investors and pan-European as well as regional bioeconomy networks. Currently, we see significant interest in our fund which remains open for new investors until August 2021.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Launch of the European Circular Bioeconomy Fund (ECBF), the first equity fund exclusively dedicated to the bioeconomy and the circular bioeconomy in the EU and the Horizon 2020 Associated Countries. First investments made in PeelPioneers B.V., a Dutch company that creates value from food waste streams, and Prolupin GmbH, developer of plant-based protein and dairy-alternatives. [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","nova_meta_subtitle":"","footnotes":""},"categories":[5572],"tags":[16380,5838],"supplier":[17589,2317,8282,13037,8637],"class_list":["post-79926","post","type-post","status-publish","format-standard","hentry","category-bio-based","tag-biobased","tag-bioeconomy","supplier-european-circular-bioeconomy-fund-ecbf","supplier-european-commission","supplier-european-investment-bank","supplier-peelpioneers","supplier-prolupin-gmbh"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/79926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=79926"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/79926\/revisions"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=79926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=79926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=79926"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=79926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}