The investment will support the company’s plans to recycle an estimated 10,000 tonnes of low-quality plastic waste over the next two years.
Circular11 said the investment will enable it to expand manufacturing capacity while continuing to develop the technology underpinning its waste-based materials.
Benjamin Gibbons, Chief Executive of Circular11, commented: “We believe that every tonne of plastic that gets incinerated is a missed opportunity to deliver low-carbon materials to a construction sector that desperately needs affordable and long-lasting assets.
“The backing of Vectr7, the South West Investment Fund, FSE and other investors is an important step; it gives us the resources to scale manufacturing, whilst continuing to develop the systems behind our materials and respond to growing pressure on industry to find better uses for plastic waste.”
£2.4m funding round
The funding round was led by climate impact investor Vectr7 Investment Partners, with The FSE Group acting as co-lead investor through a £630,000 commitment from the British Business Bank’s South West Investment Fund.
Additional backing came from The FSE Investor Network, Oxford Innovation Network, private investors and an Innovate UK grant award.
Dominic Wilson, founder and managing partner at Vectr7 Investment Partners, said: “The supply side constraints within the timber markets means the construction and manufacturing industries need sustainable alternatives.
“Circular11 is addressing that critical need head on and we are excited about the next stage of their growth.”
Matt Browning, investment manager at The FSE Group, added: “Circular11 is addressing a clear challenge in the construction and materials market.
“The team has developed a compelling approach to turning difficult-to-recycle plastic into useful, long-life products, and this investment will help the business scale its operations and build on early commercial traction.”
What does Circular11 do?
Founded in 2021, Circular11 specialises in converting hard-to-recycle plastic waste into recycled plastic lumber and related construction products.
The company has developed proprietary manufacturing technology designed to process mixed and low-quality plastic streams that are often unsuitable for conventional recycling systems.
According to Circular11, traditional recyclers frequently struggle to separate plastics back to the levels of purity required for remanufacturing, limiting the range of end markets available.
Circular11’s technology is designed to accommodate variations in feedstock quality, enabling the production of composite lumber products for applications including fencing, outdoor furniture and infrastructure projects.
The business believes demand for alternatives to timber will continue to grow as global timber demand increases and pressure mounts on the construction sector to adopt lower-carbon materials.
Composite lumber products also offer longer service lives and lower maintenance requirements than treated timber, while creating an end market for plastic waste streams that are difficult to recycle.
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