Tech Company Financing Transactions
Wastefront Funding Round
Wastefront, operating out of Oslo, secured $2 million from Hulteberg Chemistry & Engineering AB.
Transaction Overview
Company Name
Announced On
11/1/2022
Transaction Type
Venture Equity
Amount
$2,000,000
Round
Undisclosed
Investors
Hulteberg Chemistry & Engineering AB (Lead Investor)
Proceeds Purpose
The funds will be used to further develop the use cases of the renewable biofuel, Tyre Derived Oil (TDO), extracted from end-of-life-tyres (ELTs). HYFUEL's optimised tyre pyrolysis oil can be used as a substitution for diesel fuel without the need for further refining.
Company Information
Company Status
Private & Independent
Industry
Entertainment
Mailing Address
Henrik Ibsens Gate 60B
Oslo, 0255
NO
Oslo, 0255
NO
Phone
Undisclosed
Website
Email Address
Overview
Wastefront is a rubber waste recycling company on a mission to stop unsustainable handling of end-of-life-tyres, an underreported but major cause of pollution. Founded in Oslo in 2019, Wastefront is a rubber waste recycling company which converts disused tyres into useful commodities, including liquid hydrocarbons and carbon black, which can then be reutilised in processes such as alternative fuel manufacturing or ground rubber production. Through a combination of proven technology and our own proprietary processes, we aim to reduce the negative environmental impact associated with ELT (end-of-life-tyre) waste, while delivering an economically attractive solution to strategic partners.
Profile
Social Media
Company News
Facebook
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Management Team
Title
Name
Email & Social
Chief Executive Officer
Vianney Valès
Chief Financial Officer
Vegard Bringsjord
Chief Operating Officer
Inge Berge
Chief Technical Officer
Henrik Selstam
Co-Founder
Christian Hvamstad
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