The investment recognizes ScrapBees’ innovative, transparent, and lower-carbon approach to recycling and reflects EIT RawMaterials’ strategic focus on accelerating a functioning circular economy and its role as an impact investor that helps accelerate innovation and business creation in the sector.
“EIT RawMaterials is proud to support ScrapBees in advancing innovative recycling solutions that drive circularity and reduce CO2 emissions. Their transformative approach to raw material recycling aligns with our mission to foster sustainability and innovation in Europe’s raw materials sector. We look forward to supporting their continued growth and impact,” commented Bernd Schäfer, CEO and Managing Director, EIT RawMaterials.
“At ScrapBees, our goal is to make metal recycling as convenient, transparent, and environmentally impactful as possible,” said Thilo Hamm, Co-founder, ScrapBees. “With the support from EIT RawMaterials, we are excited to expand our mobile recycling services and help bring Europe closer to a sustainable, circular economy. This investment will help us to innovate further and bring the environmental benefits of urban scrap metal recycling to more communities.”
EIT RawMaterials’ investment forms part of a €4 million financing round for ScrapBees, which will support business and service growth. This will enable ScrapBees to expand its operations across Germany and engage with new sectors in source materials, increasing its capacity for collecting recyclable metals.
