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Circular solution for recycling contaminated steel

Purified Metal Company (PMC) is the first company in the world to offer an environmentally-friendly and commercially-viable method of recycling contaminated steel scrap and turning it into high-quality raw material for the steel industry. The company can also remove asbestos from the chain without dumping it. This increases human safety as well as protecting the environment and saving on scarce raw materials. Currently, steel waste contaminated by asbestos is being land filled, which is an environmentally unfriendly approach. PMC will in part replace this method. In addition, PMC’s envisaged method of recycling produces about 50% fewer CO2 emissions than the production of steel from ore. To recycle contaminated steel in a circular way, PMC is building a state-of-the-art plant in Delfzijl.

The assignment

To support PMC’s ambitious plans, NIBC offered equity funding as a shareholder, as well making additional funding available through a mezzanine investment.

Adding value 

Because NIBC made funding available through tailor-made solutions, PMC can now focus on moving forward with its plans and the construction of the plant in Delfzijl can start. The inventive financing characterises NIBC’s flexibility and made-to-measure solutions.

Delivering results

As soon as the plant becomes operational in 2020, asbestos-contaminated steel from trains, industrial installations, buildings and drilling platforms can be recycled instead of dumped in landfills. PMC’s innovative method is safer for people and the environment as well as being more affordable and more efficient than current remediation techniques.

"I am very grateful for the faith that all the parties participating in Purified Metal Company have put in us," says Jan Henk Wijma, director en co-founder.

 

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