Invest-NL invests in Vertoro to scale up biofuels

Vertoro, based in Geleen, is developing technology that converts biomass residual flows into usable bio-oil. This allows waste streams from sectors such as bio-ethanol production to be given a high-quality application, rather than being burned. Invest-NL is investing in Vertoro because the company is working on a solution for sectors where sustainability is complex and where alternative fossil fuel resources are urgently needed. 

From residual flow to usable bio-oil

The bio-oil from Vertoro can be used in multiple ways. Initially, the company focuses on applications in the chemical industry, such as coatings, adhesives, and car parts. Additionally, Vertoro is working on applications as marine fuel and, in the longer term, the technology could also contribute to more sustainable fuels for aviation. An important advantage is that the oil can largely be used in existing industrial infrastructure, making scaling up faster and simpler. 

Strong collaboration with international partners

The funding round amounts to €17 million, consisting of €10 million in new equity and €7 million in converted loans. Invest-NL, Maersk, and Climate Tech Partners act as lead investors, with additional contributions from Energietransitiefonds Rotterdam, LIOF, SHIFT, and Brightlands Venture Partners. This round combines capital, market knowledge, and access to relevant sectors. The collaboration with Maersk and Climate Tech Partners highlights the international interest in solutions that can replace fossil resources. 

“Vertoro uses biomass waste streams to replace fossil fuels in heavily polluting and hard-to-sustain sectors such as shipping and aviation. This perfectly fits Invest-NL’s strategy for a circular and bio-based economy and contributes to reducing dependence on fossil fuels.”, says Elwin van Rooijen, senior investment manager. 

Next step in upscaling

Vertoro is currently testing its technology on a practical scale in Geleen. The investment helps the company accelerate this development and work towards commercial scaling. With this, Invest-NL supports a Dutch company that converts residual streams into new raw materials and fuels, contributing to the transition to a Bio-based & circular economy.