EMV Capital has acquired an industrial-scale chemical recycling plant at the Port of Rotterdam and is targeting a return to commercial operations using proprietary reactor technology developed by portfolio company DeepTech Recycling.

 

The London-listed deep tech and life sciences investment group has acquired the Pryme One facility through newly formed wholly owned subsidiary Winalot BV, in a deal that could provide a full-scale commercial deployment site for DeepTech Recycling’s technology.

 

The plant, which achieved mechanical completion in 2023 after development capital expenditure of more than €50 million, began operations in 2024 and generated revenues from the sale of pyrolysis oil. Operations were halted in March 2026 following problems with its existing reactor technology.

 

EMV Capital and DeepTech Recycling Limited (DTR) have identified an opportunity to retrofit DTR’s already-manufactured proprietary fluidised bed reactor into the plant’s existing balance-of-plant infrastructure.

 

The companies estimate that approximately £6 million of additional capital expenditure will be required. Commercial operations could potentially resume within about 18 months, subject to funding being secured, definitive commercial terms being agreed with DTR and the successful completion of the proposed retrofit programme.

 

Winalot and DTR are expected to negotiate terms covering the sale and installation of the reactor and related support services. If an agreement is reached, the project would give DTR its first full-scale commercial customer and create a potential demonstration and reference site for its chemical recycling technology.

 

The project marks a new Venture Build initiative for EMV Capital, combining an existing industrial asset with technology developed within its portfolio, specialist expertise and third-party capital.

 

EMV Capital holds an approximately 18 per cent direct equity interest in DTR, alongside a further approximately 31 per cent of assets under management on behalf of third-party investors.

 

If the restart is successful, the plant is expected to generate revenue and operating profit from producing and selling recycled oil products that can be used as feedstock by the petrochemicals industry.

 

The facility is located within Plant One Rotterdam in the Botlek area of the Port of Rotterdam, close to some of Europe’s largest refineries and chemical producers. The location gives the project access to an established market for recycled oil products, as well as potential feedstock suppliers.

 

The site also benefits from the port’s established infrastructure, shared environmental permitting, utilities, trained operators and site services. Its configuration provides scope for future capacity expansion, potentially allowing production to scale as the project develops.

 

The project has also received support from local development institutions, highlighting its potential role in Rotterdam’s chemicals and circular-economy ecosystem.

 

The acquisition and Winalot’s initial working capital were funded through third-party debt capital syndicated by EMV Capital Partners Limited (“EMVCP”), EMV Capital’s wholly owned venture capital and corporate finance firm.

 

The financing has increased the Group’s assets under management by approximately £2 million, with EMVCP entitled to performance fees.

 

EMVCP has also been mandated by Winalot to develop a funding strategy for the additional capital required for the project. This could include further debt and equity financing, as well as non-dilutive grant funding.

 

EMV Capital said the transaction demonstrates its proactive approach to portfolio management by pairing DTR’s need for a full-scale commercial deployment opportunity with an existing industrial facility.

 

The company said the structure has the potential to create value for both Winalot and DTR, while offering further potential upside for EMV Capital shareholders without requiring a cash commitment from the PLC.

 

Dr Ilian Iliev, CEO of EMV Capital and Investor Director of Winalot, said: "This is an exciting opportunity to acquire an industrial-scale plastics recycling facility at a significant discount to its construction cost and potentially bring it back into commercial operation using technology developed by an existing EMV Capital portfolio company.

 

“It is a strong example of our pro-active portfolio management and Venture Build model in action, bringing together an attractive industrial asset, innovative technology, specialist expertise and third-party capital, while creating further potential upside for EMV Capital shareholders without a cash commitment from the PLC.”

 

Marvine Besong, CEO of DeepTech Recycling, said: "Deploying our proprietary technology at an existing industrial-scale facility could mark a significant milestone in the commercialisation of DeepTech Recycling’s feedstock recycling platform. Subject to agreement, the plant would offer commercial-scale validation of the technology and serve as a valuable reference site for prospective customers within Rotterdam’s industrial and petrochemical hub.”