ChainCraft, a Dutch scale-up active in circular chemical production, has closed a €11 million funding round led by Convent Capital, and secured the upcoming equity funding for its full-scale flagship plant.
ChainCraft produces circular chemicals from food waste through innovative fermentation technology, replacing fossil and palm oil based chemicals.
Existing investors Shift Invest, Horizon 3 and PDENH also participated in the round with the funds set to be used to lay the groundwork for an industrial scale plant and to accelerate its growth plans for its existing Amsterdam demo plant.
Commercially, the Amsterdam based scale-up is gaining speed. Recently, ChainCraft announced a long-term partnership with animal feed leader Agrifirm for the long-term offtake of circular fatty acids from its commercial demo plant. Offtake agreements with other partners from the feed and chemical industry for the demo and full-scale plant will follow soon. It is becoming increasingly apparent that these market players need to switch from environmentally high-burden products based on crude and palm oil to more sustainable alternatives like the ones Chaincraft provides, with both the public as well as regulators putting pressure on them.
