Vertoro takes next step toward sustainable feedstocks with new growth financing
Vertoro has successfully completed the first closing of a €17 million Series B financing round. With this investment, the Limburg-based company takes an important step toward further scaling and commercializing its technology. Vertoro develops a renewable oil from plant-based residual biomass streams that can replace fossil feedstocks in materials, chemicals, and, in the future, fuels.
The financing round is supported by, among others, Climate Tech Partners, Invest-NL, Maersk, the Rotterdam Energy Transition Fund, LIOF, SHIFT Invest, and Brightlands Venture Partners. The financing consists of new capital as well as the conversion of existing loans into equity.
“This financing round demonstrates how innovation in Limburg can grow into solutions for global challenges in raw materials, energy, and sustainability. We are proud to have contributed to this development through the LIOF Fund and the Limburg Business Development Fund.”
Willem van Esch, Investment Manager at LIOF
From residual biomass to sustainable feedstocks
Vertoro has developed a technology that converts organical residues into an oil with a high lignin content. This oil provides a sustainable alternative to fossil-based feedstocks and can be used in materials such as packaging and plastics. In the longer term, the company also sees opportunities for applications in sustainable fuels for the maritime and aviation sectors.
By using locally available biomass and existing industrial infrastructure, the technology contributes to reducing CO₂-emissions and decreasing dependence on fossil feedstocks. In doing so, Vertoro supports the transition toward a more sustainable and circular economy.
From demonstration to commercial
scale-up
The new financing will be used to further develop the technology and optimize the demonstration plant in Geleen. The goal is to achieve stable long-term operation of the facility and build the knowledge required to design the first commercial-scale plant.
This marks the next growth phase in a journey that began years ago. Since its founding, Vertoro has been working to scale up its technology. In 2021, the company secured funding for the construction of its demonstration plant. With this new investment round, the focus is increasingly shifting from technology development to commercial deployment and international expansion.
Proud of Limburg innovation with international potential
For LIOF and the Limburg Business Development Fund (LBDF), this financing round has special significance. LIOF has, with LBDF, been involved with Vertoro since the start and has supported the company through multiple growth stages, from further technology development to the realization of the demonstration plant in Geleen. “We have seen Vertoro grow from a promising technology into a business capable of attracting international investors and industrial partners,” says Willem van Esch, Investment Manager at LIOF.
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