Public funds and public welfare capital are being used to accelerate circular technology, as the non-profit cooldown°earth foundation celebrates its portfolio company matterr receiving funding confirmation from the state of North Rhine-Westphalia. The funding was presented on August 6 in Düsseldorf by Minister of Economic Affairs and Climate Protection Mona Neubaur.
The funding, part of the EFRE/JTF program “Produktives.NRW,” will help matterr achieve its goal of ending the export of waste from industrialized nations. This harmful practice disproportionately affects the world’s poorest countries. matterr has developed a globally patented solution that can repeatedly transform waste back into high-quality raw materials.
Thanks to this funding, matterr can now accelerate the construction of its second plant, which will operate on a small industrial scale in North Rhine-Westphalia. The core technology used is the depolymerization of PET under mild conditions, allowing for the breakdown of mixed waste into its primary components and the replacement of fossil raw materials on a large scale. This process enables molecular upcycling, transforming polyester textiles into high-quality products such as new textiles and packaging that is approved for food contact.
“This is a unique partnership,” says Wolfgang K. Hoever, founder of cooldown°earth. “A charitable foundation takes the lead, the state follows – and the result is infrastructure that turns hard-to-recycle waste into a circular GreenTech product. This is great news for climate protection and for our region as a business location.”
The funding commitment awarded to matterr is not only the first from this program but also the maximum possible grant amount of €30 million. The planned facility in NRW is expected to begin operations in 2027 with an annual capacity of 10,000 tonnes.
cooldown°earth is not the recipient of the funding, but an early investor and enabler. According to its statutes, any potential returns from its stake will be reinvested in non-profit climate and environmental protection projects.
The first grants from the state of NRW and the EU’s Produktives.NRW (EFRE/JTF 2021–2027) program were recently awarded to strategic technologies, including matterr (“revolPET plant”) and Greenlyte. Minister Neubaur praised the triple benefit of these projects for climate, jobs, and innovation. (Pressrelease NRW)
matterr has released a statement detailing the amount of funding, schedule, and process for their plant which will replace fossil-based PET feedstock with primary-quality recycled material. (Pressrelease matterr)
About cooldown°earth:
The cooldown°earth foundation is a private, non-profit foundation based in Krefeld, Germany. Founded in 2013 by Dr. Annekathrin Edelmann and Wolfgang K. Hoever, it works to promote social cohesion and climate protection. Their projects include the Digital Climate School, which helps schools integrate education for sustainable development into their curricula. The foundation also focuses on fostering skills in using new technologies for sustainability and strengthening motivation for the responsible use of the planet’s natural resources. For more information, please visit www.cooldown.earth.
For further information or interview requests, please contact:
Wolfgang K. Hoever
-Chairman of the Board-
cooldown°earth foundation
Tiergartenstr.81
D-47800 Krefeld
presse@cooldown.earth
This news release is accompanied by a photo available at AP. The photo, titled “Funding handover with Mona Neubaur and Wolfgang K. Hoever,” features (from left to right) Thomas Tochtermann (Chairman of the Board, matterr), Benjamin Rump (COO, matterr), Wolfgang K. Hoever (Founder/Board, cooldown°earth), Mona Neubaur (Minister for Economic Affairs, Industry, Climate Protection and Energy of the State of North Rhine-Westphalia), Melanie Hackler (CEO, matterr), and Jan Rückold (Head of Finance, matterr). Photo credit: © MWIKE NRW / Bowinkelmann.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.