Lewczuk Lyszczarek i Wspolnicy has advised Contec on its EUR 10 million financing round led by HiTech ASI. SSW Pragmatic Solutions reportedly advised HiTech ASI.
The Warsaw Equity Group, an existing shareholder of Contec, participated in the round.
Contec is a start-up that specializes in the processing of car tires and the production of raw materials reused in the industry.
HiTech ASI is a corporate venture capital fund managed by Bank Gospodarstwa Krajowego subsidiary Vinci.
"The funds obtained will be used to increase the processing capacity of Contec’s Szczecin plant," a Contec press release stated. "Once completed, the plant will be able to nominally process 33,000 tons of used tires per year – three times more than today. In addition, the modernization will increase the production capacity of post-pyrolysis oil and recovered carbon black."
The Lewczuk Lyszczarek i Wspolnicy team was led by Partner Lukasz Lyszczarek.