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IPM Group Will Co-Finance Waste Management Projects Worth More Than 70 Million Euros Through a New Fund

  • The investment company IPM Group, which specialises in investments in energy, mobility and artificial intelligence, has launched the Avanea Eco Fund. It is focused on financing waste management projects.
  • The fifth infrastructure investment of the IPM Group will thus support environmental projects focusing on the recycling, sorting and reuse of waste in Slovakia in the amount of more than 70 million euros.

Avanea Eco Fund (“AEF”) was established in March 2019 and will primarily focus on investments in the latest technological innovations, the creation of new capacities in recycling, sorting and recovery of waste, and the overall transformation of waste management. Inefficient waste management has far-reaching economic, health and social consequences for the population. Improper waste disposal contributes to the generation of greenhouse gases and CO2 emissions, which have been identified at international level as major contributors to climate change. Improper landfilling can lead to soil and water pollution and regions with persistent waste problems are becoming unattractive to investors.

The importance of supporting the circular economy and thus achieving long-term environmental sustainability is currently a global priority. As Adrian Vycital, IPM Group’s Managing Partner, said, “AEF’s main goal is to support sustainable development and the circular economy through responsible investment. That is why we support projects where we can be not only a financial partner, but also a strategic partner and together bring solutions for greener tomorrows. “

Therefore, AEF plans to co-finance projects in the amount of 73 million euros, of which 22 million are funds received in a public tender by the Slovak Investment Holding and 51 million euro are to be obtained from co-investors from the private sector. The aim of the AEF is to set aside investments in the next five years for new as well as existing projects through equity and quasi-equity financing.

AEF Director Simon Becica said that this investment of IPM Group will be used to finance projects in the field of recycling, sorting and reuse of waste, which will enable Slovak companies to be at the forefront of innovation in green technologies and help transform industry: “Efficient waste management can not only lead to energy savings and an overall reduction in the cost of waste disposal, but also to increase the quality of life in the regions and create new jobs through innovative technologies. “

AEF is part of the IPM Group, which has invested more than one billion US dollars in various infrastructure and technology projects in the past. Its portfolio includes, for example, one of Europe’s largest liquefied natural gas terminals, Dunkerque in France, hospitals in Turkey, a solar fund in South Korea, ESS, which brings revolutionary energy storage solutions in the USA, and Slovak battery R&D and manufacturing company InoBat.

AEF is also a partner of Slovak Investment Holding, a joint-stock company 100% owned by the Slovak Guarantee and Development Bank. Its main mission is to support strategic public and private investments in Slovakia in the fields of infrastructure, energy efficiency, waste management, social economy, small and medium-sized enterprises, healthcare and the cultural and creative industries. It draws funds for the implementation of investments from the European Structural and Investment Funds.