Fintech PR
Infinity Recycling’s Circular Plastics Fund Reaches €105 Million Committed Capital
ROTTERDAM, The Netherlands, Sept. 6, 2023 /PRNewswire/ — Infinity Recycling BV, a growth capital firm investing in advanced plastics recycling technologies, is pleased to announce the highly anticipated new closing of its Circular Plastics Fund I (CPF), achieving €105.3 million in committed capital. The backing from its new investors, which include the European Investment Fund (EIF) and GC Ventures (CVC of PTTGC), underscores the strong market confidence in Infinity Recycling’s vision and growth prospects.
The CPF, with an initial target size of €150 million, is an Article 9 ‘dark green’ impact fund under the EU’s Sustainable Finance Disclosure Regulation. Its investments aim to accelerate the transition to a circular economy of plastics by scaling up advanced recycling technology companies with strong growth prospects that transform plastic waste streams into primary commodities used to produce new plastics. The contribution of the fund’s investors will expedite the commercialisation of the advanced recycling market, playing a role in enabling a circular economy for plastics and contributing to decarbonisation across the industry.
“The proportion of plastic packaging that is recycled is still far too low,” said EIF Chief Executive Marjut Falkstedt. “Our climate change and environmental sustainability challenge is a combination of many different issues, and the excessive use of plastics is a major factor. A lot can be achieved by changing our habits, but innovation is key to finding new ways of dealing with structural plastic use and making sure we use every piece of plastic as many times as possible. With the support of the InvestEU programme, we are very happy to be supporting this kind of innovation.”
“Sustainability is key to our business operations and our commitments“, contributed Kamel Ramdani, Senior Vice President of PTTGC and MD of GC Ventures. “Applying the circular economy principle to closed-loop plastic waste management, recycling, and upcycling is mandatory. This includes developing new solutions through innovation and their market impact to better meet people’s needs.”
Since the fund’s launch in February 2022, the team has gained momentum and made significant inroads by investing in four portfolio companies, with three follow-on investments, all well-positioned to deliver private equity market returns and lasting impact. Infinity Recycling, together with the management teams of the portfolio companies have embarked on a journey to achieve operational excellence for long-term value creation and sustainable development to attain these goals.
“We are pleased to have such well-regarded investors in the Circular Plastics Fund and are thankful for the support from new limited partners such as EIF and GC Ventures, who have recognised Infinity Recycling’s differentiated investment focus”, shared Jan-Willem Muller, Managing Partner at Infinity Recycling.
Infinity Recycling BV was established in 2019 to create markets for end-of-life waste streams by investing in advanced technologies that enable circularity in the plastics industry. Their first offering, the Circular Plastics Fund, contributes to solving the plastic waste problem and unlocking much-needed capacity in high-in-demand recycled commodities. The fund implements a return and impact-driven investment strategy that drives value creation in advanced recycling and accelerates the transition to a circular economy for plastics. Building on the momentum in investor interest and deployment, the fund is well on its way to final closing, projected for Q4 2023.
Website: https://infinity-recycling.com/
This is a marketing communication. Please refer to the private placement memorandum of the AIF before making any final investment decisions.
Read more on the press release: https://www.eif.org/what_we_do/guarantees/news/2023/investeu-eif-invests-50-million-to-support-circular-plastics.htm
View original content:https://www.prnewswire.co.uk/news-releases/infinity-recyclings-circular-plastics-fund-reaches-105-million-committed-capital-301918863.html
Fintech PR
Acceleration of global marketing collaboration between Milk Partners, AirAsia rewards, and The Sandbox
– Milk Partners, AirAsia rewards and The Sandbox are collaborating to provide a new experience allowing users to earn real-world value through the metaverse gaming platform
– Launching metaverse game project ‘MiL.k X BIGGIE Wonderverse’ offering SAND Tokens, Milk Coins and AirAsia points
– “MiL.k is committed to continuously expanding its blockchain ecosystem through strategic partnerships with global partners.”
SEOUL, South Korea, Oct. 23, 2024 /PRNewswire/ — Milk Partners has announced a collaboration with The Sandbox, the global metaverse platform, and AirAsia rewards, the loyalty program of Asia’s leading online travel agency (OTA), AirAsia MOVE. This partnership is set to offer global users an immersive Web3 experience where they can earn rewards with real-world value through engaging in a metaverse-based game.
The newly launched ‘MiL.k X BIGGIE Wonderverse’ metaverse game allows users to earn Sand Tokens, Milk Coins, and AirAsia points. The game is inspired by BIGGIE, the mascot of AirAsia rewards, and modeled after the BIGGIE Wonderland mini-game in the AirAsia MOVE app. Users need to first complete tasks by collecting Milk Coins (symbolized game assets) in the Sandbox metaverse, which can be exchanged for other game assets such as virtual AirAsia points, virtual passports, and virtual boarding passes. Once all tasks are completed, users will then be rewarded with Milk Coins, Sand Tokens, and AirAsia points.
This collaboration has been based on MiL.k’s reliability and strong global network, which has steadily expanded partnerships with major global companies and has become an innovative model for the industry.
This collaboration is part of MiL.k’s broader strategy to expand its blockchain-based loyalty ecosystem, which already includes partnerships with SK OK Cashbag, Lotte L.Point, CU, Megabox, Yanolja, and others. AirAsia rewards operates a comprehensive loyalty platform for the AirAsia group, enhancing its travel and lifestyle businesses, including airlines, online travel agent (OTA), logistics, aviation services, e-commerce, financial services, and more. The Sandbox, a global metaverse platform with over 6 million users, offers a unique space for creating games and generating revenue. Together, AirAsia rewards and The Sandbox will further expand MiL.k’s ecosystem through global partnerships.
The CEO of Milk Partners, Jungmin Cho said “Following our successful collaboration event with CU, we are happy to announce the next event with AirAsia rewards. Through this partnership, for partners, we are providing a new marketing channel on metaverse and for users, we are expecting to share the fun experience and real benefits.” He added, “We will continue to explore various opportunities with global partners across diverse industries.”
In June, MiL.k introduced a metaverse experience ‘Play CUX MiL.k’ with CU and The Sandbox, offering users an engaging new way to explore blockchain and the metaverse. MiL.k is committed to continuously expanding its global partnerships to provide more exciting experiences for global users.
Photo – https://mma.prnewswire.com/media/2536675/image.jpg
View original content:https://www.prnewswire.co.uk/news-releases/acceleration-of-global-marketing-collaboration-between-milk-partners-airasia-rewards-and-the-sandbox-302282640.html
Fintech PR
H&M Foundation: Global Change Award 2025 launched – with a mission to accelerate innovation for a net-zero textile industry by 2050
STOCKHOLM, Oct. 23, 2024 /PRNewswire/ — The H&M Foundation today announces a significant shift in its overall strategic direction, focus on supporting the textile industry in halving its greenhouse gas emissions every decade by 2050, while promoting a just and fair transition for both people and the planet. The innovation challenge Global Change Award 2025 (GCA) is the first initiative to reflect this shift.
GCA is now seeking innovative ideas addressing different high emission areas across the textile industry value chain, including sustainable materials and processes, responsible production, mindful consumption, and ‘wildcards’ that support the GCA purpose. Today, only a fraction of philanthropic capital is directed to climate.
“The textile industry needs all hands-on deck if we are going to meet our climate goals by 2050, and we must ensure this transition is fair for everyone. I really believe that innovation is key to decarbonising the industry, and that the Global Change Award can play a role in identifying and growing future changemakers whose ideas can have a transformative impact if given the right support,” says Karl-Johan Persson, Board Member of the H&M Foundation.
Since GCA launched in 2015, 46 innovations have received support and a combined grant of 8 million euros. While it continues to award 10 winners every year, with each receiving 200,000 EUR, there are other key updates to the GCA:
- New focus area – decarbonising the textile industry.
- Holistic approach – equipping changemakers with a holistic people and planet mindset.
- Wider range of changemakers – switching to a nomination-based process, instead of an open application system.
- Systems change approach – equipping changemakers to consider the entire textile value chain and its interconnectedness while also considering the impact on people.
“While the industry is hungry for innovation, the holistic perspective to decarbonisation is often lacking, and the critical early stages of an innovator’s journey overlooked – this is where philanthropy can make a real difference”, says Annie Lindmark, Programme Director for Innovation at the H&M Foundation.
In addition to financial support, winners will gain access to a powerful network of mentors, collaborators, and industry leaders to help bring their solutions to life. Together with partners Accenture and KTH Royal Institute of Technology, H&M Foundation will invite the winners to participate in a yearlong, tailormade Changemaker Programme. The Global Change Award 2025 winners will be announced in April 2025.
CONTACT: Jasmina Sofić, Media Relations Responsible, +4673 465 59 59
Photo: https://mma.prnewswire.com/media/2537220/HM_Foundation_Global_Change_Award_25.jpg
Logo: https://mma.prnewswire.com/media/2537258/H_M_Foundation_logo_PNG_black.jpg
View original content:https://www.prnewswire.co.uk/news-releases/hm-foundation-global-change-award-2025-launched—with-a-mission-to-accelerate-innovation-for-a-net-zero-textile-industry-by-2050-302283317.html
Exclusive tech event will convene business leaders, investors and thought leaders in 2025
LAGUNA BEACH, Calif., Oct. 22, 2024 /PRNewswire/ — Dow Jones announced today the expansion of WSJ Tech Live through a multi-year agreement that will bring the marquee event to the State of Qatar starting next year. Appearing on stage at this year’s event in Laguna Beach, Calif., Sheikh Jassim bin Mansour bin Jabor Al Thani, Director of the Government Communications Office of the State of Qatar, and Almar Latour, publisher of The Wall Street Journal and CEO of Dow Jones, jointly announced that WSJ Tech Live Qatar will debut in late 2025 and take place annually for five years.
This marks the first time WSJ’s most exclusive tech event will be held in the Middle East. The invitation-only conference will bring together an audience of over 200 C-suite executives, investors, innovative startups and influential venture capitalists from across the world. Dow Jones will continue to operate WSJ Tech Live annually in California while adding WSJ Tech Live Qatar to the calendar starting in December 2025.
Sheikh Jassim highlighted that the conference aligns with Qatar’s vision to become a global hub for advanced technology and innovation, as outlined in the Third National Development Strategy and Qatar National Vision 2030.
“Hosting WSJ Tech Live marks another significant step in the growth of Qatar’s technology ecosystem,” said Sheikh Jassim. “When the world’s top tech leaders gather in Qatar, it will create an unparalleled opportunity to benefit from their diverse expertise, insights and global networks. This will inspire local talent, attract international investment, and create avenues for strategic global partnerships that propel our development journey forward.”
“Dow Jones and The Wall Street Journal deliver reliable journalism, data, and analytics to business professionals worldwide, and to do so we must reflect the entire global business community,” said Latour. “With the MENA region’s growth and increased role in tech–especially at the intersection of AI and the energy sector–we are delighted to be partnering with Qatar.”
Currently in its 11th year, WSJ Tech Live convenes the biggest newsmakers in technology across entertainment, music, robotics and AI, science and more. This year’s marquee event is the company’s most successful Tech Live since its inception, with record-breaking sponsorship revenue. The event showcased groundbreaking insights on a wide range of topics including the global impact of generative AI, the future of brain-computer interfaces, the outlook for startup investments, fostering the next generation of technology talent and how the upcoming U.S. election could impact the tech industry.
WSJ Tech Live joins a series of global events hosted in Qatar, including the FIFA World Cup™, Web Summit Qatar, Formula 1 Qatar Grand Prix, and Doha Forum. The event also builds on Dow Jones’s existing presence in MENA, which serves as an important hub for reporting from The Wall Street Journal, and home to key sales and services functions.
About Dow Jones
Dow Jones is a global provider of news and business information, delivering content to consumers and organizations around the world across multiple formats, including print, digital, mobile and live events. Dow Jones has produced unrivaled quality content for more than 130 years and today has one of the world’s largest news-gathering operations globally. It is home to leading publications and products including the flagship Wall Street Journal, America’s largest newspaper by paid circulation; Barron’s, MarketWatch, Mansion Global, Financial News, Investor’s Business Daily, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, OPIS and Chemical Market Analytics. Dow Jones is a division of News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV).
About the Government Communications Office of the State of Qatar
The Government Communications Office was established in 2015 to serve as the strategic communications arm of the State of Qatar. It coordinates communications activities across government and public-sector institutions, showcasing the country’s vision, initiatives and achievements in line with the Qatar National Vision 2030.
View original content:https://www.prnewswire.co.uk/news-releases/dow-jones-to-expand-wsj-tech-live-event-to-qatar-302283664.html
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