Novelplast raises €10M in financing round

RDJ advised plastics recycling business, Novelplast on its recent €10M million financing round. The funding was led by Ocean 14 Capital, a UK-based venture fund.

Novelplast is a circular economy plastics recycling company founded in 2017. The company has grown significantly in recent years and is now the biggest plastics recycler in Ireland.

Ocean 14 is a UK-based venture fund that typically focuses on blue and ocean sustainability technology. The firm is backed by the Ikea group and the Monaco sovereign wealth fund.

The RDJ transaction team was led by Bryan McCarthy and included Sarah Slevin, April Byrne and Jack Bergin (Corporate and Commercial), Brian Quinn and Treasa Seoighe (Banking and Finance).