Reference – 23.08.2023

Procopé & Hornborg advised Finnish Wastewise Group Oy on its funding round to finance the reuse of hard-to-recycle plastics

Main contact

Petri Kyllönen

Partner, Attorney at Law

+358 40 0757 732

We advised Wastewise Group Oy on its funding round to finance the company’s facility investment programme, which will increase the reuse of hard-to-recycle plastics. With this funding, Wastewise Group expands the plant capacity for chemical recycling of challenging mixed plastics, producing new raw materials for the plastics industry from plastic waste that used to be incinerated.

The investment is financed with The Finnish Climate Fund’s capital loan of 4.2 million euros and equity financing from Taaleri Sijoitus Oy, a group of family-owned investment companies and domestic individuals. In addition, Wastewise Group’s Nokia facility has received an investment aid of 0.85 million euros for expansion.

Wastewise Group is a company that has developed novel technology for chemical recycling of plastics and was born through the merger of Finnish Kiertoketju Oy and Wastewise Oy in 2022. The company operates chemical plastic recycling plant in Nokia, which is being expanded while new recycling plants are being built in Finland.

Procopé & Hornborg’s team advised Wastewise Group on all aspects of the funding round. The core team consisted of Petri Kyllönen, Lauri Koskenniemi and Saga Lamminsivu.

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