Itero awarded €5m from EU’s Just Transition Fund
Full press release
Itero have been awarded 5m EUR by the European Union’s Just Transition Fund (JTF) towards our demonstration plant at Brightlands Chemelot Campus in Limburg, the Netherlands.
The JTF is designed to support a fair and equitable transition to a climate-neutral economy, enabling European regions that are dependent on fossil-based income and employment to transition to a low-carbon energy future, considering the social and economic impacts as well as environmental.
The demonstration plant will process 27kt per annum of waste plastics, 5x the plastic waste collected by the city of Maastricht per year, while offsetting over 20kt per annum of fossil resources, the equivalent of offsetting nearly 500 barrels a day. Itero’s upcoming plant further supports the aims of the JTF by creating approximately 40 full-time jobs that support the transition from the petrochemical industry into a world-leading circular plastics hub, retaining expertise in the Limburg region. The integration of circular economy businesses into the Limburg area will attract further investment into the region.
For their Demonstration Plant, Itero has previously been awarded a grant from the Rijksdienst voor Ondernemend Nederland (RVO), the Netherlands Enterprise Agency, and a 6m EUR investment, led by Infinity Recycling’s Circular Plastics Fund.
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