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Wheb invests in recycled plastics company

Wheb Ventures, a European clean technology private equity firm, has invested in the German company Friedola, a recycled plastics processing and products business.

Wheb led the round with a EUR10.8m investment.
 
Friedola’s products consist of up to 80 per cent recycled materials, feedstock which is generated by its own plastic waste recycling facilities in Germany. Its products are mainly used in the automotive and logistics industries. 
 
Friedola’s main product is Con-Pearl, a lightweight board made of polypropylene. They are mainly used as automotive components such as floor boards in light commercial vehicles.
 
Jörg Sperling, partner at Wheb Ventures, says: “Friedola is a company with a long history of profitable success and innovation, and we are delighted to join with management in buying it out from its previous owners and help it accelerate its growth. Its products address some important needs of the automotive and logistics markets in which fuel efficiency and the use of recycled materials have become key sources of competitive differentiation. We look forward to helping Friedola to expand its operations and enter new markets.”
 
Christoph Holzapfel, chief executive of Friedola, adds: “We are very pleased to partner with Wheb Ventures. The firm is well known for its long experience and considerable value addition in cleantech markets. We look forward to working with them as we increase our production capacity, address international markets more aggressively and develop more applications for our products.”

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