#Canada #Toronto #PaceZero #CleanPlanet #HaaS Financing

New Financing for CleanPlanet Chemical

PaceZero Capital Partners, an independent firm focused on sustainability, recently announced a significant financing arrangement with Export Development Canada (EDC) to support CleanPlanet Chemical. The partnership involves a commendable $25 million Hardware-as-a-Service (HaaS) financing facility aimed at enhancing CleanPlanet's operations across North America.

The Role of PaceZero and EDC

PaceZero takes on the role of Lead Arranger and Administrative Agent for this funding initiative, while EDC complements the financial structure as a participating lender through its Sustainable Credit Fund II. Jordan Peckham, the Founder and CEO of PaceZero, expressed confidence in the growth potential of on-site solvent recycling. He highlighted the collaboration as a way to enable advancements in CleanPlanet's technology, emphasizing their shared commitment to fostering measurable positive impact on the environment.

Lissa Bjerkelund, Vice-President at EDC, also reinforced the importance of supporting Canadian businesses in their quest to develop innovative solutions for complex industrial challenges. According to her, CleanPlanet is a prominent example of how Canadian cleantech companies can revolutionize industrial practices, enabling customers to improve operational efficiency while reducing waste.

CleanPlanet and Its Innovative Technology

Founded in 2012 and based in Ottawa, CleanPlanet has established itself as a leader in industrial solvent recycling. The company serves a wide range of industries, including flexible packaging, paints and coatings, and manufacturing sectors. Through its innovative AlwaysClean platform, CleanPlanet recycles hundreds of solvent chemistries, achieving near-virgin purity with minimal operator intervention. This technology not only enhances efficiency but also mitigates the environmental impact of solvent use.

The introduction of the HaaS model allows CleanPlanet to operate through its Service365 offering, which encompasses everything from equipment and software provisioning to remote monitoring, maintenance, and operator training.

Advantages of the HaaS Model

Under this model, CleanPlanet retains ownership of the recycling equipment, allowing customers to benefit from a flexible monthly fee structure tied to their actual solvent recycling needs. This approach effectively transforms the on-site recycling process into an operating expense rather than a capital investment. As a result, customers can save up to 60% compared to traditional solvent procurement and disposal options. This innovative framework has the potential to bring about a shift in how industries perceive solvent recycling, creating greater accessibility and sustainability.

Technology and Environmental Impact

CleanPlanet's closed-loop solvent recycling systems play a crucial role in minimizing waste. By restoring waste solvents to a purity comparable to virgin solvents, the systems not only reduce dependence on new petrochemical solvents but also lessen the environmental burdens associated with off-site disposal methods.

In the past year, CleanPlanet successfully recycled over 20 million pounds of solvent waste, resulting in a significant reduction of greenhouse gas emissions by avoiding more than 30,000 metric tons of CO2 emissions. This showcases CleanPlanet's commitment to environmental stewardship and aligns with broader sustainability goals within the industrial sector.

As the demand for innovative environmental solutions grows, CleanPlanet's partnership with PaceZero and EDC stands as a compelling example of how financial support can drive cleantech advancements. With ongoing investments and innovative practices, CleanPlanet is well-positioned to meet the burgeoning market demand in sectors such as semiconductors, pharmaceuticals, and electric batteries. This financing represents another vital step toward an environmentally-friendly future in industrial operations.