Contec S.A., a Poland-based tire recycling company, has secured EUR 5 million (~USD 5.5 million) from Pruszyński, in addition to the previous investments of EUR 8 million from VINCI and EUR 2 million (~USD 2.2 million) from the Warsaw Equity Group made in March 2023, bringing the total investment for 2023 to EUR 15 million (~USD 16.4 million). The company claims this investment is one of 2023's largest CleanTech investments in Europe.

The funds will be used to triple the capacity of Contec’s current facility in Szczecin, Poland, construct new commercial plants in Europe, and support R&D projects and technological advancements in exploring new product applications.

The expansion of the Szczecin plant is currently underway, and additional production lines are scheduled to start operating in 1H 2024. Once the expansion is completed, the plant will have the capacity to process 33,000 tons of end-of-life tires per year, enabling expansion in the production capacity of Contec's products, including recovered carbon black and tire pyrolysis oil.

Contec S.A. specializes in the chemical recycling of end-of-life tires to produce circular rubber and plastic materials with a low carbon footprint, including recovered carbon black, tire pyrolysis oil, and steel. The company asserts itself as the only company using molten salt as a heat transfer medium in its tire pyrolysis technology, ensuring the uniform heating of waste tire materials, facilitating the recovery of high-quality products, reducing energy consumption, offering cost-effective advantages, and enabling long-term recycling and reuse.