Poland’s Contec secures additional €5M, totalling €15M in raised funds

Szczecin-based startup Contec has announced the raise of additional €5 million for its funding round, totalling at €15 million. Blachy Pruszyński backed the round which became one of the 2023’s largest investments in Europe.

• Contec S.A. is an environmental services company that provides circular rubber and plastic solutions with low-carbon-footprint by recovering the carbon black, oil, and steel from waste car tires. The company does that thanks to the so called Molten Technology, which heats up the pyrolysis reactor using a mixture of liquid salts.
• Blachy Pruszyński provided the additional €5 million, complementing HiTech ASI and the Warsaw Equity Group, who invested €10 million in Contec back in March 2023. The current investor is the largest Polish manufacturer of steel roofing and facade coverings, operating since 1985.
• The investment will be used to triple the capacity of Contec’s current facility and to position the company for the construction of several new commercial plants across Europe. It will support Contec’s mission to accelerate the transformation of the manufacturing industry toward carbon neutrality.