Capital increase of €16 million conducted solely with longstanding shareholder Xerys Invest, bringing the total raised over 2021 to €27.4 million
The transaction will finance accelerated deployment of its production tool in France as well as international expansion
Bonnières-sur-Seine, November 9, 2021. SKYTECH, France’s rising star for the production of premium regenerated plastic resins, has raised 16 million euros from longstanding shareholder Xerys Invest to finance the ramp-up of its production facilities and to meet strong domestic and international demand for its premium post-consumer regenerated resins (rABS and rPS).
This new round of financing will enable SKYTECH to accelerate the ramp-up of its production capacity at the company’s new site in Val d’Hazey (Eure), which is scheduled to open in the first half of 2022, and to rapidly increase the output of its production lines. This funding will also allow the company to step up its R&D investments and thus continue innovating and broadening the scope of its technical capabilities to better serve industrial companies and major accounts seeking to design high-performance custom products that meet their technical and environmental specifications.
This latest capital increase brings the total funds raised from longstanding shareholder Xerys Invest to 27.4 million euros during 2021.
Arthur Rozen, CEO of SKYTECH, says: “Our shareholder Xerys Invest has once again proven its commitment, as well as its strong conviction of the potential our project offers and its ecologically friendly impact on the entire plastics industry. A constantly growing population of customers and prospects come to us naturally, and especially appreciate our capacity to deliver effective and adapted tailor-made solutions.”
“SKYTECH’s scope for development is important and its outlook is extremely bright in Europe and, more broadly, internationally, where manufacturers are increasingly aware of the climate emergency and the need for a sustainable circular economy,” points out Olivier Ossipoff, Chairman of Xerys.
A company active in the intelligent and sustainable circular economy, SKYTECH contributes to revolutionizing the plastics industry with eco-plastics. This French industrial gem produces premium recycled materials from complex plastic waste for industrial applications. After many years of R&D carried out with support from ADEME, SKYTECH has developed a well-protected, innovative sorting platform enabling the separation of post-consumer polymers at a purity rate greater than 99% as well as their granulation. SKYTECH offers a concrete answer to the challenge facing the plastics industry, namely, how to evolve their product to serve eco-design as well as to address a major environmental issue at the heart of society’s concerns. As a company, SKYTECH also strives to limit its own environmental impact with a production tool delivering first class energy performance.
For more information, visit www.SKYTECHslp.com or follow on LinkedIn @SKYTECH SLP
About XERYS INVEST
Xerys Gestion is a French investment company primarily positioned on trending sectors that include healthcare & Life Sciences, renewable energy, Greentech and new digital technologies. As such, Xerys Gestion supports companies in industries undergoing major transformation to address economic, environmental and societal challenges and that have great ambitions for their growth and international expansion.
In its market, Xerys Gestion stands out as much for its modus operandi and the strategic and operational support it provides to portfolio companies, as for the range of à la carte investment opportunities offered to investors and the firm’s close relations with them, or its sector-based approach. Lastly, Xerys Gestion has considerable sector expertise, bolstered by a strategic committee made up of recognized specialists and experts in key sectors.
For more information visit www.xerys.com, or follow on LinkedIn @Xerys.
Bruno Lorthiois – +33 678970724
Édouard de La Loyère – +33 676471444
The plastics industry uses several families of plastics to make objects with various characteristics: polyethylene, ABS, polystyrene, PVC, etc. At the end of their lifecycles, these objects are mixed, and therefore the plastics that constitute them are mixed as well. To date, due to the lack of a solution allowing their sorting, plastic waste is mainly incinerated or landfilled.
Recognizing the ecological urgency of recycling this waste, governments are significantly increasing national and international regulations: incentive policies, export bans, and increased taxes on landfills make the management of this waste more and more restrictive.
Since 2013, Skytech (former APR2) has positioned itself as a technological player in the recycling of plastic waste. By developing an innovative process for sorting a mixture of plastic waste to allow recycling on an industrial scale, the company is providing a concrete response to a major environmental challenge.
This automatic plastic sorting process, initiated in partnership with the CNRS, opens new paths to treating and valuing deposits previously considered waste.
Skytech is able to produce various types of high quality recycled plastics with similar oil-based plastic’ properties.
The process finally brings premium-quality new recycled materials to the manufacturers of the plastics industry. Skytech works continuously with researchers from the École Normale Supérieure Paris-Saclay to model this process, improve it and automate it.
Skytech chose to focus on the treatment of waste from WEEE (Waste from Electrical and Electronic Equipment) and ELV (End-of-Life Vehicles).
The company has recently been admitted to join Move’o, the competitivity pole to promote automotive industry reclycing ambitions.