With €521,6k revenues, 8 customers in 2021 and a €6M pre-money valuation, Griffin Refineries is looking to raise €2M seed funding from Nordic investors to validate its circular economy solutions for waste management, sign up 10 more customers in Europe & Middle East in 2022, strengthen the team and beef up international sales.
Griffin Refineries is a circular economy company with the objective of producing value from waste by innovative waste management solutions. Griffin’s existing customers include The Ministry of Climate Change and Environment in UAE, a large Italian food production company, and plastics producers in Finland.
In a global waste management market worth €80,5B (+1,3% CARG/Year), Griffin Refineries was founded in 2016 in Helsinki, Finland. Griffin Refineries is monetizing mainly through developing solid waste management infrastructure, and circular waste management solutions charged to municipalities, packaging producers, waste authorities, brand owners, retailers, and recycling plants. Revenue growth is projected at 6X yearly, reaching €18M by 2027. Griffin Refineries team of 5 combines 100+ years of commercial, waste management and cleantech expertise.
Griffin Refineries has already raised €9M in private capital, loans and grants to develop its circular economy solutions for waste management, which means that, after this investment round is secured, Griffin Refineries is fully ready for commercial uptake internationally.