Circlia Nordics, an Aarhus, Denmark-based company developing a technology for turning waste into a carbon neutral oil, announced that it secured a capital investment round.
The deal was made with the Danish shoe manufacturing company Ecco, through its investment vehicle Ecco Investment Corporation.
In a continuous effort to turn waste material into a valuable green resource, ECCO Investment Corporation has invested in Bio2Oils parent company Circlia Nordic, with the goal of ensuring the development of the first full-scale unit. ECCO owns and operates wastewater treatment plants at its tanneries, and sees a lot of potential in having a Bio2Oil unit installed at these. The process of preparing the leather for product use is typically done using water. Naturally, this leaves a waste stream, and at the moment ECCO is utilizing as much of this waste as possible but is still left with some waste. This is where the Bio2Oil unit will fit into the equation and hopefully remove the remaining waste altogether and turn it into usable biofuel.