What we do
Institutional investors
Equity products
AI Co-Investment Facility
Cleantech Co-Investment Facility
Impact investing at the EIF
Climate & Infrastructure Funds
Technology Transfer
European Angels Fund (EAF) - Co-investments with Business Angels
Venture capital
The Social Impact Accelerator (SIA)
Lower mid-market
Mezzanine Facility for Growth
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
ESCALAR Programme
Debt products
New ESIF ERDF Guarantee Fund initiative in Greece
EFSI Private Credit Programme
AGRI Guarantee Facility
AGRI Italy Platform Uncapped Guarantee Instrument
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
Skills & Education Guarantee Pilot
EREM debt products
Single EU Debt Financial Instrument
Documentary Finance Facility – Bulgaria
The SME Initiative
The SME Initiative Bulgaria
The SME Initiative Finland
The SME Initiative Italy
The SME Initiative Malta
The SME Initiative Romania
The SME Initiative Spain
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
EaSI Funded Instrument
European Progress Microfinance Facility
Entrepreneurs supported through Progress Microfinance
European Fund for Strategic Investments (EFSI)
How does EIF contribute to EFSI
How to apply for EFSI financing
Regional Development - Country and sector-specific initiatives
Normandie Garantie Agri
FAIRE - La Réunion
Auvergne Rhône-Alpes FEADER
Recovery Equity Fund of Funds of Bulgaria
Fons d’Inversió en Tecnologia Avançada (FITA) Catalonia
Dutch Future Fund (DFF)
Dutch Alternative Credit Instrument (DACI)
PORTUGAL BLUE: a new initiative for blue economy investments
JEREMIE Greece Reflows – Business Angels’ Co-Investment Equity Instrument
German Corona Matching Facility (CMF)
Portugal Growth programme
Central and Eastern European Technology Transfer (CEETT)
Croatian Growth Investment Programme (CROGIP) II
Croatian Growth Investment Programme (CROGIP)
Croatian Venture Capital Initiative 2 (CVCi 2)
AGRI Italy Platform Uncapped Guarantee Instrument
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund 1 (BIF 1)
Baltic Innovation Fund 2 (BIF 2)
Central Europe Fund of Funds (CEFoF)
Croatian Venture Capital Initiative (CVCi FoF)
Competitiveness Fund-of-Funds for SMEs in Romania
The Cyprus Entrepreneurship Fund (CYPEF)
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
EU4Business Capped Guarantee
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
ESIF Fund-of-Funds Greece
EAFRD FoF Portugal
EAFRD FoF Romania
The ERP-EIF Facility
ERP-EIF Co-Investment Growth Facility
The LfA-EIF Facilities
The German Future Fund (GFF) - EIF Growth Facility
INAF – French National Agricultural Initiative
ESIF Energy Efficiency and Renewable Energy Malta
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
The Silesia EIF Fund of Funds
La Financière Région Réunion
The EIB Group Risk Enhancement Mandate (EREM)
Call for Expression of Interest for FOSTER II
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
Romania Recovery Equity Fund of Funds
JEREMIE Romania Reflows – Equity Instrument
Luxembourg Future Fund 1 (LFF)
Luxembourg Future Fund 2
Mezzanine 'Fund of Fund' for Germany (MDD)
NEOTEC resources
Polish Growth Fund of Funds (PGFF)
Portugal Venture Capital Initiative (PVCi)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Western Balkans Enterprise Development & Innovation Facility (WB EDIF)
EAFRD FoF Greece
Irish Innovation Seed Fund (IISF)
RRF Czech Republic Fund of Funds

AION: circularity as a service


“We used to work in renewables when we were told they wouldn’t fly,” says Runa Haug Khoury, CEO of AION, underlining her long-standing commitment to environmental sustainability. AION’s purpose is to industrially scale a circular plastic economy. The company, based in Oslo, provides flexible and traceable end-to-end services in the field of circularity on plastics with a documented sustainability effect for its customers. “We call it ‘circularity as a service’,” she adds. Working with its partners, AION will not only ensure plastic is recycled effectively, but also collect data about the material’s past and current use, and its processing, analyze it and verify the environmental benefits.

“Waste management has a trust issue, so we are trying to enable transparency and digitalisation, improving traceability and collecting data all along the way, calculating environmental impact and making sure we walk the talk.”

One such use-case is plastic trays. AION has developed a collaboration with McDonald’s across the Nordic markets, using recycled materials to produce sturdier trays that last longer. “Actually, although the extended life is now 24 months, we can re-use the same material on the same product ten times, meaning up to 20 years of tray life,” Runa explains. “Plastic is a good material. It’s lightweight, robust, reliable. We just need to enable a shift from linear to circular use. We need to close the tap on plastic pollution, this is crucial.”

Elsewhere, AION-produced plastic transportation pallets reduce waste by 90-95%, CO2 emissions by 84% and cost by 20-50%, all the while making operations smarter, easier, and safer.

“What’s key in terms of environmental impact is getting scalability into it,” Runa says. That’s where venture capital comes into the picture. AION recently received an equity investment from EIF-backed venture capital firm Ocean14, to boost their growth efforts. “There was an instant click in terms of the industrial scalability of our vision. We’re still in the start-up phase of balancing opportunity and saying enough no’s, but we’re working with Ocean14 to identify targets and select niches to maximise impact.”

Timing seems to be on their side, with increased public scrutiny on sustainability, growing awareness and plastic accountability within many industries like marine plastics, and a trend within the industry of seeing circularity as a way of hedging against volatile commodity prices. Plus the impact of regulatory measures, with the EU taxonomy pushing things in the right direction: “We really hadn’t foreseen how impactful the taxonomy would be in moving things. It really lifted the sustainability agenda to the board rooms and top management.”

With 282 million metric tonnes of plastic waste produced annually worldwide, but only 15% recycled, “things need to change,” she concludes.

Company: AION (Norway)

Type of business: recycling; plastics, circularity

EIF financing: EFSI Sub-Window 1

Financial intermediary: Ocean14

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.


Copyright ©

 European Investment Fund   – The European Investment Fund is not responsible for the content of external internet sites.