Marine Metals has completed a strategic merger between Marine Metals BV (Netherlands) and Marine Steel BV (Belgium), simultaneously securing new funding and converting prior investment instruments to equity.
The merger unites the decade-long technological innovation of founder Frank Geerdink with the proven track record and industry networks of Hugo De Stoop and Toufitri Akdime, positioning Marine Metals to scale its breakthrough technology into market-leading operations. Following the merger, Hugo De Stoop assumes the role of CEO, Toufitri Akdime becomes CFO, and Frank Geerdink transitions to chief technology officer
“This merger represents the perfect alignment of vision, technology, and execution capability,” said Hugo De Stoop, Marine Metals’ new CEO. “Ship recycling is not just a regulatory or environmental issue; it is a massive industrial opportunity. Together, we are positioned to deliver solutions that are safe, circular, automated, and deliver robust returns, proving that sustainable practices can drive profitable business models.”
This merger builds on months of close collaboration that began as a partnership in April 2025, when Hugo and Toufitri started working alongside the Marine Metals team. After six months of successful cooperation, the natural evolution was to fully unite the two companies. Their combined expertise in managing large-scale maritime projects, raising capital, and scaling operations complements Frank’s, the Marine Metals team’s and venture studio Enviu, pioneering work in sustainable ship recycling technology.
Strategic funding and investor alignment
Marine Metals has successfully closed a significant investment round on the same day as the strategic merger. The round includes the conversion of convertible financing instrument into equity by Sojitz Corporation and Jansen Recycling Group, alongside new investments from SPDG, Victrix, and an additional contribution from Jansen Recycling Group.
This strengthened financial foundation will drive further technological development of the Marine Metals solution, co-funded by the European Union through the ERDF program (Kansen voor West).
These strategic shareholders bring not only capital but invaluable industry expertise in shipping, steel markets, circularity and decarbonisation, positioning Marine Metals to benefit from deep sector knowledge as it scales its operations.