ING Sustainable Investments provides € 2 million in risk-bearing capital to Milgro. With these resources, Milgro wants to further accelerate the growth of its data platform towards a circular economy.
Milgro offers companies and organizations the opportunity to control the use and consumption of raw materials with a self-developed interface application. This allows companies to control their waste flows, reduce the waste of raw materials and (re) use raw materials in a sustainable and circular manner. The financial resources enable Milgro, which has been growing strongly for years, to further increase investments in its technology platform. With the platform, a 'digital rotary' for used raw materials, Milgro connects disposers and recipients of used raw materials and offers the data infrastructure for a circular economy.
Ruud Hageman, CEO Milgro: “We are very pleased with this new step in our partnership with ING. In terms of accelerating our growth, scaling up our technology platform and further internationalization, we see ING Sustainable Investments as a partner that can help us increase our impact in the coming years. Milgro's core proposition - profitable sustainability - is also perfectly in line with the mission of ING Sustainable Investments.”
Mark Weustink, Head of Sustainable Investments at ING: “We believe that sustainable business is better business. That is why we focus on companies that are driving change to become more sustainable. This risk-bearing capital to Milgro fits perfectly into that picture. The company has a unique, proven successful model and a very appealing customer portfolio and track record. We see plenty of further international growth opportunities for Milgro.
ING founded Sustainable Investments in 2018 as part of its sustainability strategy with which the bank aims to support business activities in areas such as the energy transition, the circular economy and clean water supply. The fund focuses on so-called scale-ups. In addition, the fund has a wide spectrum of financing options to best help companies with their sustainable growth. In 2018,ING Sustainable Investments invested in solar panel producer Exasun and tire recycling company Black Bear Carbon.
Read the ING Sustainable Investments press release in English here.
