EIT RawMaterials invests in metal recycling start-up ScrapBees

EIT RawMaterials announced a €0.78 million investment in German circular economy startup ScrapBees, which advances scrap metal recovery through digital first-mile waste collection in urban areas, in partnership with the construction and craft sectors.

This investment recognizes ScrapBees’ innovative, transparent and low-carbon approach to recycling and reflects EIT RawMaterials’ strategic direction to accelerate a functioning circular economy and its role as an impact investor that contributes to accelerate innovation and business creation in the sector.

Bernd Schäfer, CEO and Managing Director of EIT RawMaterials commented: “EIT RawMaterials is proud to support ScrapBees in promoting innovative recycling solutions that promote circularity and reduce CO2 emissions. Their transformative approach to raw materials recycling aligns with our mission to drive sustainability and innovation in the European raw materials sector. We look forward to supporting their continued growth and impact. “

“At ScrapBees, our goal is to make metal recycling as convenient, transparent and environmentally friendly as possible,” said Thilo Hamm, co-founder of ScrapBees. “With the support of EIT RawMaterials, we are delighted to expand our mobile recycling services and help bring Europe closer to a circular and sustainable economy. This investment will help us further innovate and bring the environmental benefits of urban scrap recycling to more communities.

EIT RawMaterials’ investment is part of a €4 million funding round for ScrapBees, which will support the growth of the business and services. This will enable ScrapBees to expand its operations across Germany and involve new sectors in material sourcing, thereby increasing its capacity to collect recyclable metals.

Source: EIT RawMatières