DC Corporate Finance and Common Ground Corporate Finance successfully raise 53 Million Euro of equity, senior debt and subordinated debt to finance the Renasci Waste Recycling project.
Renasci® is a Belgium based integrated Industrial Waste Recycling and Revaluation Project that offers an integrated solution for global challenges related to waste and biomass management. To this end, the company has developed the Smart Chain Processing® concept, a combination of existing and new technologies that allows the processing of complex waste streams with maximum raw materials and energy recovery. Recyclable products (plastics, paper/card, metals) will automatically be sorted and conditioned for re-use, while non-recyclable materials are converted into marketable end products such as diesel fuel, bio-coal pellets and inerts that can be used as filler in construction materials. A pilot plant based on this concept, with a yearly capacity of 120.000 tonnes, will be built in Oostende, Belgium and will be operational by the end of 2019.
Common Ground Corporate Finance and DC Corporate Finance jointly closed the financing round with the bank BNPParibasFortis, the Belgian insurer Integrale and various private investors.
Luc Desender, CEO of Renasci said: “The financial strength and valuable international network that we have gained through this financing round now offers us the opportunity to develop the full potential of our technology and people. With BNP Paribas Fortis, Integrale and the various private investors selected, we now have active and supportive investors on board that can contribute substantially to our Belgian project and pave the way for future expansions elsewhere in Europe and in the rest of the world”.
Mr. Beaupain, CFO of Integrale (specialized in occupational and private pensions) said “We have been approached to support this exciting and innovative project. Both the ecological need to improve the environment, the technology developed and the quality of the team have lead us to conclude that this was the right project to support and finance. We have been impressed by this challenging project and are proud to be part of it. We’d like to thank Common Ground for introducing Integrale to this transaction”.