PeelPioneers, a pioneering foodtech company based in ‘s-Hertogenbosch, Netherlands, has successfully raised €4M in growth capital. The company, established in 2017, specializes in converting orange peels into valuable raw materials, contributing to a circular economy. This funding will be instrumental in scaling up their existing operation in Den Bosch and establishing a significantly larger second factory in Murcia, Spain. Notably, the company has also initiated a crowdfunding campaign to secure an additional €4M.
PeelPioneers has previously attracted interest and investment from various sources, including the Brabant Development Agency and the European Circular Bioeconomy Fund. Historical data reveals that past investments have steadily contributed to the company’s technological advancements and expansion efforts. Comparing these to the recent funding round, it is evident that PeelPioneers has consistently managed to attract significant investments, further solidifying its position as a leader in the circular economy sector. Additionally, PeelPioneers has continually broadened its client base and product offerings, which emphasizes the efficiency of its business model.
Key Investors and Crowdfunding Efforts
The recent €4M investment includes contributions from the Brabant Development Agency (BOM), the European Circular Bioeconomy Fund (ECBF), and the National Green Fund. DOEN Participaties and Invest International, a collaboration between the Dutch Ministry of Finance and FMO, the Dutch development bank, also participated. Alongside these investments, PeelPioneers has launched a crowdfunding campaign on the Invesdor platform, aiming to raise an additional €4M, of which €1.35M has already been collected.
The crowdfunding initiative demonstrates PeelPioneers’ commitment to community engagement and sustainable growth.
The company’s decision to involve the public aligns with its mission to promote environmental responsibility and resource efficiency.
Expanding Production Capacity
PeelPioneers plans to utilize the newly secured funds to expand their Den Bosch factory and build a new facility in Murcia, Spain, which will be two to three times larger. This expansion aims to increase production capacity and meet rising demand for its upcycled products. PeelPioneers’ innovative process converts citrus waste into valuable ingredients for various industries, thereby minimizing environmental impact and promoting circularity.
PeelPioneers’ current operations in Den Bosch involve processing over 33,000 kg of orange peels daily, producing essential oils, fibers, and other functional ingredients. The company’s unique supply chain and processing methods have enabled it to serve over 50 clients, including prominent names like Lowlander and Royal Steensma. Despite the projected financial losses for the next year, PeelPioneers aims to become profitable by 2026.
The company’s commitment to sustainability and innovation is reflected not only in its product offerings but also in its financial strategies and growth plans. PeelPioneers’ approach aligns with global trends towards circular economies, making it an attractive prospect for both investors and environmentally conscious consumers. The expansion into Spain is a strategic move to enhance production and distribution capabilities, thereby supporting the company’s long-term growth objectives.
