SELFRAG secures 14.3 million francs to transform waste into products
14 March 2023 14:17
Given the rapidly decreasing landfilling space, innovative solutions that drastically increase the slag recycling rates have become an urgent priority. SELFRAG is dedicated to transforming waste into valuable products and relentlessly pursue innovation in this field. The company relies on its unique and patented technology as well as on the support of a wide range of scientists, engineers, and business partners to help closing the gap to a functioning circular economy.
The company based in Kerzers (canton of Fribourg) has announced the successful completion of a financing round in the amount of 14.3 million francs. The funds consist of 9.3 million francs of equity contributed by the company's core shareholders, as well as 5 million francs of long-term debt secured through the Technology Fund and UBS. This funding will provide SELFRAG with the resources necessary to continue their mission of transforming waste into valuable products while advancing towards a sustainable future.
“SELFRAG is an excellent addition to our portfolio of Swiss climate-tech innovators. SELFRAG’s significant environmental impact, its commercial success and entrepreneurial drive were convincing arguments to grant the company a loan guarantee” explains Simone Riedel Riley, Head of Technology Fund.
SELFRAG’s Centro Uno project, a 35’000 TPA slag recycling facility, is planned to start production. The permitting process of the Centro Due 45’000 TPA slag recycling plant in Kerzers is well under way and counts on the support by the local and cantonal authorities. SELFRAG expects to start construction of this plant in the fourth quarter of 2023 and to start production by the end of 2024.
“All of us at SELFRAG are proud of having received such a strong support by our shareholders, the Technology Fund and UBS. This funding confirms our strategy. It will help us in the further implementation of our business plan” concluded Anton Affentranger, Executive Chairman of SELFRAG.
SELFRAG was founded in 2007 by a team of scientists and engineers with a passion for creating sustainable solutions to waste management. ggba