Contec S.A. has successfully secured a total of EUR 15 million in funding in 2023, to date
The largest Polish manufacturer of steel roofing and facades Pruszyński, has contributed an additional EUR 5 million to the funds already provided by VINCI and the Warsaw Equity Group. These two funders had initially invested EUR 10 million in Contec back in March 2023.
The investment will be used to triple the capacity of Contec’s current facility in Szczecin, Poland, and to position the company for the construction of several new commercial plants across Europe. This will support Contec’s mission to accelerate the transformation of the manufacturing industry toward carbon neutrality.
ELTs are a prime example of a valuable resource that can be transformed into high-quality feedstock for reuse in a circular manner. Virtually all major tire producers have set targets to incorporate at least 30 percent of sustainable materials in the production of new tyres by 2030.
“For many years, we have been supporting the efforts of the manufacturing sector to promote environmental sustainability and circularity. Contec’s circular products significantly reduce the carbon footprint by more than five times compared to traditional fossil fuel-based raw materials. That is why there is a great deal of interest in Recovered Carbon Black for the tire, manufactured rubber goods, plastics, and pigment industries.” Says Krzysztof Wróblewski, CEO of Contec.
This recent fundraising round marks a significant milestone in the company’s growth. The demand for circular products has far surpassed the existing production capacity of the Szczecin plant. The raised capital will enable Contec to meet this growing demand by expanding production. The expansion of the Szczecin plant is already in progress, with additional production lines set to commence operations in 2024. Additionally, Contec is seeking locations for further plants in the most suitable sites.