Pryme, a Netherlands-based cleantech company, has received nearly EUR 13 million (~USD 14 million) from Infinity Recycling, Invest-NL, and LyondellBasell to support the commercialization of Pryme's pyrolysis process to convert used plastic into valuable products on an industrial scale.

The funds will be used to accelerate the roll-out of its technology, which allows it to recycle used plastic with a high conversion rate on an industrial scale and with a lower carbon footprint.

Pryme is building an advanced recycling plant in Rotterdam, Netherlands, with a processing capacity of up to 40,000 metric tons and plans to begin production later this year. The company also intends to build a second, larger-scale plant in 2025. 

Investor LyondellBasell has also announced plans to use the pyrolysis oil produced by Pryme's new facility in its integrated hub in Cologne, Germany.

Founded in 2018, Pryme is a clean-tech company that employs advanced chemical recycling to convert used plastic into valuable petrochemical products on an industrial scale using a proprietary pyrolysis process. The company is listed on Euronext Growth Oslo.