A word of welcome
The third edition of Circa Group quarterly newsletter marks an important ReSolute milestone – the signing of the equipment contract with Valmet. We share this and other news so you are across key developments and receive notification of our quarterly results. Thank you for your support and interest and we hope you find this update useful.
Tony Duncan, CEO, Circa Group AS
Q3 financial results
In the last quarter there has been significant progress towards the commissioning of ReSolute™ at the end of 2023, and our future plans for the next stage plant are taking shape with Valmet signing a conceptual engineering agreement for FC6. The Circa Renewable Chemistry Institute is actively working with customers on the use of Cyrene™ in industrial processes, and the sharing of our expertise has been well received. The appointment of Nick Smith places Circa in a strong position to advance new products and secure commitments for Cyrene™ volumes from distributors, partners and customers.
Circa reaches major milestone in ReSolute plant build
In early November Circa signed a contract with Valmet for the delivery of key equipment to its ReSolute plant. This equipment contract is the next step in a continuation of the cooperation agreement, announced in May 2022. It specifies the pyrolyzer technology, the circulating fluidised bed (CFB) boiler and the automation system, which will be delivered over the second and third quarter of 2023. The technology approach taken by Valmet will enable the pyrolyzer and boiler plant to be almost energy self-sufficient.
Sustainable solutions doesn’t mean more of the same
As part of a recent Innovate UK delegation of high-growth companies to Japan, Sarah Hickingbottom shared how Cyrene™ can help create better batteries, not just by replacing the harmful solvent NMP but also by potentially making batteries lighter, as well as extending how long they last and reducing cost. Circa is working towards helping battery manufacturers and battery recyclers remove the NMP from batteries as well as take advantage of the additional functionalities Cyrene™ offers. We are actively involved in projects to “green” batteries, including on cathode technology and the recovery and recycling of battery materials.
Head of Development and Commercialisation appointed
Nick Smith will join Circa as Head of Development and Commercialisation on January 1 2023. His considerable commercial experience with highly regarded enterprises and international network will lift Circa’s capacity to reach target markets. This appointment will also bring a critical market focus to bear on new product development.