Recycling company Gjenkraft AS has completed a capital raise of NOK 60 million (approx. $6 million) to launch commercial operations at its first industrial-scale wind turbine blade recycling facility in H yanger. With an annual capacity of 2,800 tonnes, the site marks a major step toward solving one of the renewable energy sector s biggest waste challenges.

The financing package combines public grants and private investment, including an EU Horizon grant awarded in 2022, two contributions from Innovation Norway, and a final tranche of NOK 8.6 million ($858,000) secured through debt and a share issue backed by eight local and regional investors.

Gjenkraft s proprietary pyrolysis technology enables the recycling of nearly 100% of blade materials, including glass fiber, carbon fiber, oils, foams, and metals. By transforming these materials into valuable raw inputs, the process significantly reduces greenhouse gas emissions compared to incineration, eliminates landfilling, and reduces dependence on virgin resources.

With the financing secured, we can now build a commercial production plant that is both economically sustainable and industrially competitive, said Arvid L nne, Chairman of Gjenkraft. This provides a solid foundation for further growth in Norway and across Europe.

Looking ahead, Gjenkraft plans to expand beyond Norway, targeting a 100,000-tonne annual recycling capacity by 2035 through multiple facilities across Europe.

Source: gjenkraft.com