Circulate Capital Announces Two New Investments in Latin America
January 28, 2025
First investment into Mexico with Omnigreen, Deepened Commitment in Colombia with Recyclapet
Mexico City, 28 January 2025 – Circulate Capital, a leading investment management firm advancing the circular economy in high-growth markets, has announced its expansion into Mexico with an investment in Omnigreen SAPI de CV, a trailblazer in flexible plastic recycling. At the same time, the firm has strengthened its position in Colombia with a second investment in Ambiental de Plasticos Recyclapet S.A.S., supporting the company’s growth to become one of the largest producers of recycled PET (rPET) in the Andean and Caribbean regions.
“Latin America isn’t just our next market – it’s a circular economy blueprint for the world,” said Rob Kaplan, Founder and CEO of Circulate Capital. “We are excited to enter Mexico, a pivotal market for the region, while also deepening our support for Colombia’s circular economy. Together, these new investments prove that circular solutions can deliver both profits and purpose in Latin America.”
Scaling Flexible Plastic Recycling in Mexico with Omnigreen
Mexico generates over 5.7 million tons of plastic waste annually, with flexible plastics among the most difficult to manage due to low recycling and collection rates. Founded in 2017, Omnigreen has developed an integrated recycling model that combines on-site waste collection with advanced processing capabilities. As a pioneer in Mexico’s plastics recycling industry, the company offers a circular process for discarded polyethylene materials, including both low-density (LDPE) and linear low-density (LLDPE) types, transforming them into high-quality resins.
“With Circulate Capital’s partnership, we are positioned to scale our operations, broaden our impact, and drive the production of recycled plastic resins for diverse applications across Mexico. By combining Circulate Capital’s expertise with the talent and dedication of our team, Omnigreen will consolidate its leadership in flexible plastic recycling and continue to grow” said José Ignacio Pérez Lizaur, Chairman of Omnigreen.
Omnigreen is unique in its unwavering commitment to quality, sustainability and social responsibility, demonstrated by various third-party certifications. It holds the GreenCircle Certified Recycled Content certification for its post-consumer recycled resin and has earned the ESR (Empresa Socialmente Responsable) distinction, recognizing its dedication to ethical practices and community engagement. These values align perfectly with Circulate Capital’s mission to invest in scalable solutions that generate measurable environmental and social impact.
Omnigreen aims to have the capacity to recycle 300,000 tonnes of plastic over the next decade while creating over 100 new jobs.
Accelerating rPet production in Colombia with Recyclapet
Colombia is the fourth-largest producer of plastic waste in Latin America, generating 1.7 million tonnes annually. As a critical focus country for scaling sustainable environmental practices and a regional leader in Extended Producer Responsibility (EPR) regulations, Colombia still faces significant gaps in infrastructure capacity to meet the growing demand for recycled plastics.
Building on its first investment in Colombia with Polyrec, Circulate Capital also announced a deepening commitment with a new investment in Recyclapet, addressing the growing demand for rPET in the Andean and Caribbean markets. With its newly installed state-of-the-art pelletizing facility near Cali, Recyclapet is positioned as a key player in the region’s recycling sector.
This investment aligns with Colombia’s regulatory framework, including Law 2232, which mandates a gradual increase in the use of recycled PET in beverage bottles. While recycled PET currently represents less than 40% of containers sold, Recyclapet is set to close the gap, providing a critical solution to meet future compliance and environmental goals. By 2040, 90% of water bottles and 60% of other beverage containers must be made from rPET.
“Colombia isn’t just recycling plastic – it’s reinventing how Latin America thinks about waste and the circular economy. With Recyclapet’s operational expertise and innovative collection models, we’ll keep 200,000 metric tonnes of plastic where it belongs: in our economy, not our environment,” said Kaplan.
A Growing Footprint in Latin America
With these investments, Circulate Capital has now completed four deals across Latin America, solidifying its role as a leading circular economy impact investor in the region. Backed by IDB Lab, the innovation arm of the Inter-American Development Bank, and global brands such as Chevron Phillips Chemical, Danone, Dow, Mondelēz International, and Unilever, Circulate Capital’s efforts are supported by nearly US$70 million dedicated to scaling best-in-class recycling companies in the region.
“Through our investment in Circulate Capital, we’re thrilled to see the circular economy thriving in Latin America,” said Silvia Dávila, Danone’s LatAm President. “These initiatives not only transform plastic waste management but also create jobs and foster sustainable practices that benefit both our communities and the environment. This work aligns perfectly with Danone’s ‘One Planet, One Health’ vision, promoting a healthier planet and a more sustainable future for all.”
Nothing contained in this Press Release is intended to project, predict, guarantee, or forecast the future performance of any investment. This Press Release is for information purposes only. It is not investment advice or an offer to buy or sell any securities or to invest in any funds or other investment vehicles managed by Circulate Capital.