Press Release
May 30, 2024

Novo Holdings and A.P. Moller Holding lead Funding Round in Circtec

The Goodwin Life Sciences team has advised Novo Holdings and A.P. Moller Holding on their €75 million equity investment into Circtec as part of a €150 million financing.

Circtec is a UK-headquartered technology company which has developed a proprietary technology for decomposing old tyres through pyrolysis, (a process that transforms waste into valuable circular materials through thermal decomposition in an oxygen-free environment), and for upgrading the products to high-quality recycled chemicals and renewable fuels. With the funding raised, CIRCTEC will construct Europe's largest end-of-life tyre pyrolysis recycling facility in Delfzijl, the Netherlands.

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation, one of the world’s largest philanthropic enterprise foundations. Novo is a leading life sciences investor based in Denmark, which invests in companies at all stages of development. In 2021, Novo increased its focus on researchers and companies working with ideas and products that advance the green transition through industrial biotechnology.

AP Moller Holding is a privately held investment company based in Denmark with approximately USD 32 billion under management. As the parent company of the A.P. Moller Group, owned by the A.P. Moller Foundation, our purpose is to build and develop businesses that have a positive impact on society – ‘nyttig virksomhed’. We drive long-term value and growth in our businesses. Through engaged and valued ownership, we leverage our family name, values, insights and global networks to set our businesses up for success.

The Goodwin team was led by Sophie McGrath, Elizabeth Rhodes, Richard Bloomfield, Matthew Shelley, Hannah Frost and George Fagan.

Please see press release here.