SKYTECH raises 5 million euros to accelerate ramp-up of its production facilities
- The capital increase of €5 million was conducted exclusively with Xerys, the company’s reference shareholder.
- The transaction is designed to support ramp-up of the production facility in France prior to international roll-out
- Xerys will make additional contributions of at least 15 million euros in 2021 to finance investments in capacity and technology.
Bonnières-sur-Seine – January 14, 2021. SKYTECH, the vibrant French company that produces premium regenerated plastic resins, has raised 5 million euros from its reference shareholder Xerys, primarily to finance ramp-up of its production facility in France prior to addressing international markets.
The current funding round gives SKYTECH the means to clear a milestone in its development journey towards becoming the European leader in regenerated engineering plastics for industrial applications. Last November, the company announced the launch of large-scale production for its premium regenerated polymers (rABS, rPS, rPP), derived from end-of-life vehicles (ELVs) and waste electrical and electronic equipment (WEEE). SKYTECH’s finished products are primarily aimed at the automotive, household appliances, building & construction, luxury and design fields, as well as the Telecoms industry. With the funds raised and additional financing to come, SKYTECH will accelerate ramp-up of its production tool, with target volumes of 30,000 metric tons in 2023 (compared to 10,000 tonnes currently).
This transaction brings SKYTECH’s total share capital to 10 million euros. The investment management company Xerys has fully subscribed this capital increase through its various Funds and remains the shareholder of reference for SKYTECH.
“The renewed show of confidence from our shareholder, Xerys, confirms the ever-expanding potential of SKYTECH, its recycled plastic resins offer and its circular economy solution, crucial to meeting the challenges of ecological transition,” said Arthur Rozen, Chairman and CEO of SKYTECH. “We are working relentlessly to capitalize on the tremendous reservoir of growth available to us, and we are in an excellent position to seize significant market share with the most advanced value proposition and adherence to the principles of responsibility we uphold.”
Olivier Ossipoff, Chairman of Xerys Gestion, continued, adding: “This financing is the beginning of a much more significant fundraising campaign taking place over the next 12-18 months, which will, among other things, allow SKYTECH to accelerate deployment internationally. We are confident in the strong potential of the company, which is ideally positioned to become the go-to partner for manufacturers in the production of recycled engineering polymers.”
Industries are currently faced with multiple pressures—regulatory, demand, environmental, and technological—that call for rapid transformation. By extending the field of possibilities in the recovery of waste engineering plastics, SKYTECH provides a timely solution for achieving positive industrial performance.
Click here to discover SKYTECH in video
A company active in the intelligent and sustainable circular economy, SKYTECH contributes to revolutionizing the plastics industry: 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 strives to limit its own environmental impact by deploying a production tool delivering first class energy performance.
For more information: www.SKYTECHslp.com
About Xerys Gestion
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 that have high 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. Xerys Gestion manages nearly 200 million euros in assets, with a portfolio of nine holdings.