ABN AMRO’s Sustainable Impact Fund and Aviva Investors have committed EUR100m to SL Materials, formerly known as Urban Mine, to expand its concrete-recovery operations.

The investment will support expansion of the company’s existing site in Zaandam, the Netherlands, and development of additional production capacity elsewhere in Europe. Funding will also support further technology development and optimisation.

SL Materials uses its proprietary Smart Liberator and Smart Refiner technologies to recover cementitious materials, sand and gravel from demolition concrete for reuse in new concrete production.

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The follow-on investment builds on earlier backing from ABN AMRO and coincides with the company’s rebranding as it pursues European expansion.