Kilara Capital injects $5m into e-waste processor Sircel
Make us a preferred source
Make us a preferred source on Google
The news: E-waste processing startup Sircel has secured $5 million in funding from Kilara Capital to drive its expansion and processing capabilities.
The context: Sircel said the investment would help fast track its stage one solar panel recycling capabilities. The project is supported by the NSW Environment Protection Authority as part of its Circular Solar Program.
The company also announced that Irina McCreadie, portfolio manager at impact fund manager Kilara Capital, has joined the board of directors.
In May, Sircel acquired Scipher Technologies to become Australia’s largest e-waste processor with the ability to divert up to 100% of end-of-life electronics from landfill.
What they said: Sircel founder and CEO Anthony Karam said: “This investment will support the acquisition and installation of Australia’s most advanced solar panel processing facility which will operate within the Parkes Recycling Special Activation Precinct, broadening Sircel’s recycling capabilities within what is becoming one of the largest e-waste streams.
“Tackling the e-waste problem properly is a capital-intensive process that has required years of research and development and investment in highly-complex equipment and machinery.”
Kilara Capital founder and managing partner Ben Krasnostein said: “After so many years of R&D it’s an exciting and critical time for the business as it scales nationally, diverting more e-waste from landfill and recovering more materials than was previously thought possible.
“We're particularly buoyed by the opportunities to salvage precious metals from e-waste to power the future of renewable energy, reducing reliance onmining operations.”
The source: Sircel media release
