Dutch Eco-Innovator PeelPioneers Secures €4 Million for Spanish Expansion
Brabant, Tuesday, 27 August 2024.
PeelPioneers, a Dutch circular economy pioneer, has raised €4 million to scale up operations and build a new eco-friendly factory in Spain. The company plans to process orange peels into valuable raw materials, doubling down on its commitment to sustainable resource utilization.
Key Investment and Expansion Plans
The Brabant-based company has earmarked the newly secured €4 million for building the new facility in Murcia, Spain, a region well-known for its extensive citrus orchards. This strategic location aims to allow PeelPioneers to maximize its raw material intake, processing orange peels into valuable by-products such as essential oils and natural fibers. These materials are subsequently used in the food, cosmetics, and cleaning industries, reinforcing the company’s role in the circular economy.
Funding Sources and Strategic Collaboration
The significant investment was collected from various reputable entities, including the Brabant Development Agency (BOM), the European Circular Bioeconomy Fund (ECBF) of the European Investment Bank, and the National Green Fund. Additional investors include DOEN Participations, which is funded by the National Postcode Lottery and Friends Lottery, as well as Invest International, a public-private partnership involving the Dutch Ministry of Finance and the Dutch development bank FMO.
Scaling and Sustainability Initiatives
Initially, part of the funds will be used to scale and enhance the sustainability of PeelPioneers’ existing facility in Den Bosch, North Brabant. The company aims to extract maximum value from citrus peels by refining its processes and increasing production efficiency. Once these domestic upgrades are complete, the focus will shift to the new factory in Murcia, which is planned to be two to three times larger than the Den Bosch facility.
Circular Economy and Environmental Impact
Since its inception in 2017, PeelPioneers has been at the forefront of converting citrus waste into valuable resources. The company opened its first factory in Son, near Eindhoven, in 2018, and subsequently launched the largest orange peel recycling plant in Europe in 2021. To date, PeelPioneers has processed over 30 million kilograms of orange peels, thus significantly reducing food waste and contributing to the circular economy.
Future Prospects and Community Engagement
Looking ahead, PeelPioneers aims to raise an additional €4 million through crowdfunding to fully realize its ambitious plans for the Murcia factory. This new facility is expected to bolster local economies by creating jobs and promoting sustainable practices. Furthermore, the company’s commitment to eco-friendly production methods aligns with broader European goals of reducing carbon footprints and enhancing resource efficiency.