Funding to boost national expansion and Australia’s most advanced solar panel recycling facility
Australia’s largest e-waste processor, Sircel, has secured a $5 million capital injection from impact investor Kilara Capital to drive its national expansion and processing capabilities on its mission to solve the global e-waste crisis.
Attracted to the Australian owned green technology company’s proven circular economy business model, The Kilara Growth Fund undertook a rigorous impact assessment and rated Sircel highly across its key benchmarks for environmental sustainability and commercial impact.
Founder and Managing Partner of Kilara Capital, Ben Krasnostein said that Kilara’s investment in Sircel was a unique opportunity to achieve multiple climate positive outcomes through a proven circular economy business that was operational and scalable.
“Sircel really ticks a lot of the boxes that the Kilara Growth Fund looks for: it’s a company with a proven business model, an ever-growing customer base and it has the potential to achieve significant climate positive and commercial outcomes,” Krasnostein said.
“Sircel’s impressive leadership team have remained focussed on solving the rapidly growing e-waste problem in its entirety, rather than taking shortcuts, which has led to a truly innovative business with the potential to change the way we think about electronic waste.
“After so many years of R&D it’s an exciting and critical time for the business as it scales nationally, diverting more e-waste from landfill and recovering more materials than was previously thought possible.”
“We’re particularly buoyed by the opportunities to salvage precious metals from e-waste to power the future of renewable energy, reducing reliance onmining operations.”
Sircel has also announced Kilara Capital’s Portfolio Manager, Irina McCreadie, joins the Board of Directors, further strengthening our governance and strategic leadership.
The investment follows Sircel’s May 2024 acquisition of Scipher Technologies, which elevated the company to become the largest e-waste processor in Australia and the only company capable of diverting up to 100% of e-waste from landfill through its breakthrough solutions.
Sircel Founder and CEO Anthony Karam said the investment from Kilara Capital was a valuable endorsement of the company’s maturity and the investment would help to fast-track its new stage 1 solar panel recycling capabilities.
“We are excited to be delivering this project supported by the NSW EPA as part of it’s Circular Solar Program This investment will support the acquisition and installation of Australia’s most advanced solar panel processing facility which will operate within the Parkes Recycling Special Activation Precinct, broadening Sircel’s recycling capabilities within what is becoming one of the largest e-waste streams,” Karam said.
“Tackling the e-waste problem properly is a capital-intensive process that has required years of R&D and investment in highly-complex equipment and machinery.”
“We’re thankful to have investment partners like Kilara Capital, joining our other cornerstone investors expanding on those that share our vision, recognise the scale of the e-waste challenge and want to invest in the long-term benefits to business, people and planet we can deliver.”
“With more than 15 years of global experience in business strategy and development, Irina will bring invaluable expertise to our Board as we navigate this next phase of growth, while enhancing our governance and operations.”
ABOUT SIRCEL
Sircel is an Australian-owned and operated green technology company solving the rapidly escalating global e-waste crisis. With its end-to-end recycling process, Sircel is diverting up to 100% of end-of-life electronics – from consumer items to civic infrastructure – away from landfill and extracting the source materials for reuse in the circular economy. Processing larger volumes than all known Australian e-waste recyclers and processors, Sircel has invested tens of millions of dollars into facilities and machinery to date. Now operational across five sites in NSW, VIC and QLD, Sircel is working with more than 50 corporates, councils and waste partners to divert their e-waste from landfill. Sircel has pioneered a unique process that is ethical, sustainable, and better for business, the community and the planet. www.sircel.com
ABOUT KILARA CAPITAL
Kilara Group is an Australian fund manager and project developer focused on scaling climate smart technologies and hardware solutions that deliver commercial and decarbonisation outcomes. www.kilaracapital.
ABOUT KILARA GROWTH FUND (KGF)
KGF is an Australian small-mid cap investment fund supporting private companies in the transition to a low carbon economy.
KGF aims to deliver outsized risk-adjusted returns for investors by actively managing exposure to sectors, customer-type and technology risk whilst taking a strategic approach to supporting portfolio companies.
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