RenerCycle — Seed

RenerCycle closed its second capital increase in less than a year, backed by its ten industrial shareholders with EIT InnoEnergy named as strategic investor partner, and appointed Javier Villanueva as executive director. The raise secures its first €6.5M of investments in Navarra (a dismantling, refurbishment and recycling plant), but that is the investment plan, not the amount raised, which was not disclosed. PitchBook puts total funding at about $7.06M. The first capital increase (late 2022 to early 2023) was never announced separately. In February 2024 the company added a bank loan facility of up to €2M from Caja Rural de Navarra, LABORAL Kutxa and SONAGAR, which is not counted as a round here.