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closedlooppartners.com

Investments

35

Portfolio Exits

1

Funds

8

Partners & Customers

10

About Closed Loop Partners

The Closed Loop Fund is a social impact fund investing $100M to increase the recycling of products and packaging. Every Closed Loop Fund investment in recycling infrastructure deliver measurable financial and environmental returns. First, it is a loan and it must pay back. Equally important, each investment must divert significant tonnage from landfill to the recycling stream. Leveraging pay-for-success as much as possible, each loan must have transparent reporting and clear line of site to repayment to allow for easy replication by other cities and companies.

Headquarters Location

3 Columbus Circle 15th Floor, Suite 1656

New York, New York, 10019,

United States

917-822-6476

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Latest Closed Loop Partners News

Inside 4 MRF projects getting a boost from EPA grants

Sep 20, 2023

EPA grants for projects in Colorado, Kentucky, New Jersey and Ohio aim to bolster recycling in underserved areas, battle contamination and boost capture of valuable materials like PP or aluminum. Published Sept. 20, 2023 Listen to the article 7 min This audio is auto-generated. Please let us know if you have feedback . MRF infrastructure investments are a big part of local governments’ strategy to collect cleaner, higher-value materials and reduce contamination. Recent grant funding from the U.S. EPA’s Solid Waste Infrastructure for Recycling grants (SWIFR) is also helping local MRFs replace aging infrastructure or launch brand-new facility projects. The grant funding is part of the passage of the Save Our Seas 2.0 Act and was funded through the   Infrastructure Investment and Jobs Act  in 2021. Grant-funded projects announced last week include new MRFs in rural Colorado and in northwest Ohio, as well as projects at existing MRFs in New Jersey and Kentucky meant to battle contamination and pull out more valuable materials. Here’s a snapshot of some of the MRF projects getting a slice of the EPA’s $105 million total in SWIFR grants for recycling, waste and organics projects around the country: Chaffee County, Colorado Grant amount:  $3,995,000 Chaffee County will create a central place to process recyclable materials when it builds a MRF and a regional transfer station at its landfill outside the mountain town of Salida. Residents say recycling is inconvenient because curbside recycling is either costly or not available in their area, and there currently aren’t any public drop-off sites. Residents will be able to drop off recyclables at the new facility. Managing waste and recycling in the mountains can be a challenge , since some residents live in “hard to reach” areas and local waste companies must sometimes haul materials hundreds of miles away for processing. "As a small, rural community, Chaffee County has struggled for many years to establish permanent, holistic solid waste diversion and materials recovery systems,” said Beth Helmke, deputy county administrator for Chaffee County, in a statement. The new facilities will process about 90,000 tons of material a year, with at least 50% of that material diverted from the landfill, according to the EPA. Chaffee County estimates 60% of the waste currently sent to its landfill is MSW and organics , and 90% of that material is recyclable or compostable. The county will start project scoping, site design and facility construction through competitive bidding processes likely to launch in early 2024 , according to Recycle Colorado, a state recycling nonprofit whose members include counties like Chaffee. The total project cost will be at least $5 million. Ocean County, New Jersey Grant amount: $1,867,163 Ocean County, New Jersey, will make major equipment upgrades at its MRF to help reduce contamination. The grant will also help the county meet market standards for its recyclables, said Barbara Jo Crea, an Ocean County commissioner and the liaison to the county’s solid waste management department. A new plastic film air conveyance system, coupled with a new baler, will help battle the “plague” of plastic bags that enter the MRF each day and damage the equipment, according to the EPA. A secondary eddy current separator aims to improve the MRF’s aluminum capture rate by 10% compared to the previous three years, it said. Ocean County also will install an artificial intelligence-powered “optical classification system,” which will use cameras and other technology to analyze its waste stream and gather data on operational improvements the MRF can make. Residents have “embraced” the county recycling efforts since they first started in the 1980s, and MRF improvements funded by the grant are a “benefit to our environment and in preserving landfill space,” Crea said in a statement . Lucas County, Ohio Grant amount: $4 million Lucas County, Ohio, is in the process of building a new MRF in the Toledo area that will be operated by Balcones Resources and could open as soon as 2025. The MRF is expected to be a public/private partnership between Closed Loop Partners and the county. Balcones is part of Closed Loop’s portfolio company Circular Services. The county currently doesn’t have a MRF and sends its recyclables 90 miles away to a different MRF in Oberlin, Ohio, run by Republic Services. The City of Toledo said having a local MRF could save the city between $8,000 and $10,000 per month in transportation costs. The new MRF will also help reduce greenhouse gas emissions from trucking the materials, Lucas County commissioners said in a joint statement . The 60,000-square-foot facility is meant to process up to 35,000 tons of residential curbside recycling a year, according to the EPA. The EPA estimates the new MRF will create 25 new jobs and retain another 15 jobs. The MRF construction project is just part of the county’s solid waste management plan. “We also continue to emphasize the need for 'correct recycling' to maximize the processing capability at the new MRF in order to increase the value of recyclables, as an investment in our future,” the commissioners said in the statement. Lexington, Kentucky Grant amount: $1.8 million Lexington’s MRF, run by the municipal government, will use the grant to purchase new equipment to collect polypropylene and cut down on contamination. The plan is to add “new technology into strategic locations on the sorting line,” including robotics. The municipality estimates the MRF will be able to collect over 500 tons of polypropylene each year. Lexington Mayor Linda Gorton said PP investments are an important strategy in the circular economy, and the grant will help Lexington stay competitive in plastic recycling markets. “There are solid resale markets for these materials,” she said in a statement . “This is really good news in a city like ours that believes in the importance of recycling.” Recommended Reading

Closed Loop Partners Investments

35 Investments

Closed Loop Partners has made 35 investments. Their latest investment was in Ansa as part of their Seed VC - III on August 8, 2023.

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Closed Loop Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/1/2023

Seed VC - III

Ansa

$9M

No

2

6/2/2023

Pre-Seed

Earthodic

$1.23M

Yes

1

5/3/2023

Series A

ecoSPIRITS

$8M

Yes

6

3/15/2023

Series A

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$99M

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10

2/15/2023

Series C

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$99M

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10

Date

8/1/2023

6/2/2023

5/3/2023

3/15/2023

2/15/2023

Round

Seed VC - III

Pre-Seed

Series A

Series A

Series C

Company

Ansa

Earthodic

ecoSPIRITS

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Amount

$9M

$1.23M

$8M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

2

1

6

10

10

Closed Loop Partners Portfolio Exits

1 Portfolio Exit

Closed Loop Partners has 1 portfolio exit. Their latest portfolio exit was The Renewal Workshop on March 16, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

3/16/2022

Acquired

$99M

2

Date

3/16/2022

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

2

Closed Loop Partners Acquisitions

2 Acquisitions

Closed Loop Partners acquired 2 companies. Their latest acquisition was Sims Municipal Recycling on December 30, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

12/30/2021

Other

$99M

$1.2M

Corporate Majority

20

10/4/2019

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$99M

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10

Date

12/30/2021

10/4/2019

Investment Stage

Other

Companies

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Valuation

$99M

$99M

Total Funding

$1.2M

Note

Corporate Majority

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Sources

20

10

Closed Loop Partners Fund History

8 Fund Histories

Closed Loop Partners has 8 funds, including Closed Loop Circular Plastics Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

3/17/2023

Closed Loop Circular Plastics Fund

$45M

3

6/13/2022

Closed Loop Leadership Fund

$99M

10

1/21/2022

Closed Loop Local Recycling Fund

$99M

10

12/13/2021

Closed Loop Ventures II

$99M

10

6/30/2020

Closed Loop Infrastructure Fund

$99M

10

Closing Date

3/17/2023

6/13/2022

1/21/2022

12/13/2021

6/30/2020

Fund

Closed Loop Circular Plastics Fund

Closed Loop Leadership Fund

Closed Loop Local Recycling Fund

Closed Loop Ventures II

Closed Loop Infrastructure Fund

Fund Type

Status

Amount

$45M

$99M

$99M

$99M

$99M

Sources

3

10

10

10

10

Closed Loop Partners Partners & Customers

10 Partners and customers

Closed Loop Partners has 10 strategic partners and customers. Closed Loop Partners recently partnered with ReFED on June 6, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

6/1/2022

Partner

United States

09:00 EDT ReFED and Closed Loop Partners Announce $100M Funding Platform to Scale Food Waste Solutions with Funding from Google ...

NEW YORK , June 1 , 2022 / PRNewswire / -- ReFED and Closed Loop Partners are excited to partner on a new $ 100M Circular Food Solutions Funding Platform , a first-of-its-kind , blended finance investment and innovation platform to scale food waste reduction solutions by mobilizing critical capital into the sector .

2

6/1/2022

Partner

United States

Nickie Louise Posted On June 1, 2022. ReFED partners with Closed Loop Partners on a new $100M circular food solutions funding platform led by Google, others to reduce food waste

It 's for this reason that ReFED and Closed Loop Partners partnered on a new $ 100M Circular Food Solutions Funding Platform with funding from Google and The Betsy and Jesse Fink .

1

11/9/2021

Partner

United States

1

9/24/2021

Partner

United States

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10

7/27/2021

Partner

South Korea

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10

Date

6/1/2022

6/1/2022

11/9/2021

9/24/2021

7/27/2021

Type

Partner

Partner

Partner

Partner

Partner

Business Partner

Country

United States

United States

United States

United States

South Korea

News Snippet

09:00 EDT ReFED and Closed Loop Partners Announce $100M Funding Platform to Scale Food Waste Solutions with Funding from Google ...

NEW YORK , June 1 , 2022 / PRNewswire / -- ReFED and Closed Loop Partners are excited to partner on a new $ 100M Circular Food Solutions Funding Platform , a first-of-its-kind , blended finance investment and innovation platform to scale food waste reduction solutions by mobilizing critical capital into the sector .

Nickie Louise Posted On June 1, 2022. ReFED partners with Closed Loop Partners on a new $100M circular food solutions funding platform led by Google, others to reduce food waste

It 's for this reason that ReFED and Closed Loop Partners partnered on a new $ 100M Circular Food Solutions Funding Platform with funding from Google and The Betsy and Jesse Fink .

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Sources

2

1

1

10

10

Closed Loop Partners Team

9 Team Members

Closed Loop Partners has 9 team members, including current Founder, Chief Executive Officer, Ron Gonen.

Name

Work History

Title

Status

Ron Gonen

Founder, Chief Executive Officer

Current

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Name

Ron Gonen

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Work History

Title

Founder, Chief Executive Officer

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Status

Current

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