Germany-based Friedola is a recycled plastics processing business. Its products consist of up to 80 per cent recycled materials, and are mainly used in the automotive and logistics industries.
Friedola’s main product is CON-Pearl, a lightweight board made of polypropylene, which is used to make automotive components such as floor boards for light commercial vehicles.
Christoph Holzapfel, CEO of Friedola, said: ‘We look forward to working with [WHEB] as we increase our production capacity, address international markets more aggressively and develop more applications for our products.’
WHEB Ventures has offices in London and Munich, and has two cleantech venture capital funds with total commitments of £130 million. The firm is supported by the European Union through the Competitiveness and Innovation Framework Programme.
This deal is WHEB’s third German investment in six months.