Belgian state takes €244M stake in metal recycler Comet Group
What's the deal? The Belgian government, through state holding company FPIMDealroom has a profile for this one. Try Dealroom →, is taking a stake in Comet Group, a metal recycling firm. Comet plans to invest €244 million in Belgium, partly to recycle copper using what it calls a "unique technology."
What's the endgame? The investment centres on scaling up copper recycling — a metal in growing demand for electrification and grid infrastructure. Comet aims to build out recycling capacity domestically rather than rely on imported raw materials.
Why now? "Europe wants to become less dependent on raw materials from the rest of the world," according to comments cited around the deal. "This fits within that." (translated from Dutch)
The signal: The move reflects a wider European push to secure critical raw materials at home. By backing a domestic recycler, the Belgian state is betting that recovering metals locally can reduce reliance on global supply chains.
Read more: tijd.be
