Gjenkraft to build pyrolysis-based commercial recycling plant
Up to $6 million in secured funding will address the company’s goals to turn wind blades into valuable second-use materials.
Source | Getty Images
Recycling company (Høyanger, Norway) has successfully completed a capital raise totaling NOK 60 million (approximately $6 million), enabling the launch of commercial operations at its first industrial recycling plant in Høyanger. With an annual capacity of 2,800 tonnes, the facility will become the company’s first commercial-scale plant dedicated to the recycling of wind turbine blades.
The financing package consists of a combination of public grants and private capital: an EU Horizon grant awarded in December 2022, two project contributions from Innovation Norway, and a final tranche of NOK 8.6 million (approx. $858,000) through a mix of debt and a share issue that attracted eight local and regional investors. This final step was the decisive piece that completed the company’s aforementioned financing package.
Gjenkraft highlights a proprietary pyrolysis technology that is capable of recycling close to 100% of wind turbine blade materials — including glass fiber, carbon fiber, oils, foams and metals — turning them into valuable raw materials. The technology delivers significant reductions in greenhouse gas emissions compared to incineration, while eliminating the need for landfilling and reducing the extraction of virgin raw materials.
“With the financing secured, we can now build a commercial production plant that is both economically sustainable and industrially competitive,” notes Arvid Lønne, chairman of Gjenkraft. “This provides a solid foundation for further growth in Norway and across Europe.”
In addition to the Høyanger facility, Gjenkraft is positioning itself for further expansion across Europe, with ambitions to establish multiple plants and reach a total capacity of 100,000 tonnes per year by 2035.
For related content, read “Wind blade recycling project presents objectives, progress” or learn more about Gjenkraft on our Sustainability page.
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