TORONTO, Aug. 6, 2026 /PRNewswire/ -  PaceZero Capital Partners ("PaceZero") announced today its role as Lead Arranger and Administrative Agent for a US$25 million Hardware-as-a-Service ("HaaS") financing facility for CleanPlanet Chemical ("CleanPlanet"). Export Development Canada ("EDC") participated in the facility as a lender alongside PaceZero Sustainable Credit Fund II. The financing will support the deployment of CleanPlanet's on-site industrial solvent recycling systems across North America.

"Against a backdrop of volatile solvent prices and rising disposal costs, we see immense growth potential for on-site solvent recycling," said Jordan Peckham, Founder and CEO of PaceZero. "Alex and the team at CleanPlanet are building best-in-class technology and share our commitment to delivering measurable positive impact. We look forward to supporting them as they bring new systems online."

"Canadian cleantech companies are developing innovative solutions to some of industry's most complex challenges, and CleanPlanet is a strong example of that leadership," said Lissa Bjerkelund, Vice-President, Investments and Mid-Market Lending at EDC. "By helping manufacturers recover and reuse solvents on-site, CleanPlanet enables its customers to reduce costs, improve operational efficiency and lower waste. EDC is proud to support the growth of a Canadian innovator whose technology is delivering environmental benefits across industrial supply chains while strengthening the competitiveness of Canada's cleantech sector."

Founded in 2012 and headquartered in Ottawa, CleanPlanet is an industrial solvent recycling company serving customers across flexible packaging, paints and coatings, and broader manufacturing sectors throughout North America. Through its technology-enabled AlwaysClean platform, the company recycles hundreds of solvent chemistries using a single, software-calibrated hardware design, recovering spent solvent on-site at near-virgin purity with minimal daily operator intervention.

"The need for solvent recycling is expanding as industries such as semiconductors, pharmaceuticals, and electric batteries increase North American capacity. The partnership with PaceZero and EDC will allow CleanPlanet to meet this market demand and provide a win/win proposition for our customers and the communities in which they operate," said Alex Richert, Chief Executive Officer of CleanPlanet.

Hardware-as-a-Service Model

CleanPlanet delivers its platform through its fully managed Service365 offering, which includes equipment, software, 24/7 remote monitoring, maintenance and operator training. Under its HaaS model, CleanPlanet retains ownership of the equipment while customers pay a monthly volumetric fee based on the amount of solvent recycled. This converts on-site recycling from a capital investment into an operating expense, reducing upfront costs while delivering cost savings of up to 60% compared to traditional solvent procurement and disposal.

Technology

The company deploys closed-loop solvent recycling systems at customer facilities. Each system utilizes CleanPlanet's proprietary distillation process to recycle hundreds of solvent chemistries, restoring waste solvent to virgin-like purity with less than 10 minutes of daily operator intervention. The systems are certified for use in Class I, Division 1 hazardous environments under UL 2208 standards. CleanPlanet maintains a portfolio of issued and pending patents covering its distillation process, control systems, and remote diagnostics.

Environmental Impact

CleanPlanet's systems reduce the environmental impact of solvent use by displacing both the production of virgin petrochemical solvents and conventional off-site disposal methods, including incineration, fuel blending, and centralized solvent distillation.

By recycling solvents directly at customer facilities, CleanPlanet also reduces hazardous waste transportation and customers' reliance on virgin solvents, helping lower both Scope 1 and Scope 3 emissions. In 2025, CleanPlanet recycled more than 20 million pounds of solvent waste, avoiding over 30,000 metric tons of greenhouse gas emissions.

The HaaS financing follows Nuveen's Private Equity Impact team's US$30 million equity investment in CleanPlanet in December 2024.

About PaceZero Capital Partners

PaceZero Capital Partners is an independent sustainability-focused private credit firm, headquartered in Toronto, Canada. PaceZero executes credit investments in established, high-growth companies developing innovative technologies that drive improved social and environmental outcomes.

About Export Development Canada

Export Development Canada is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk, and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger, and sustainable economy for all Canadians.

About CleanPlanet

CleanPlanet is a tech-enabled industrial recycling company that deploys on-site solvent recycling systems to customers across flexible packaging, paints and coatings, and broader manufacturing. Through its no-capex Service365 model, CleanPlanet helps industrial customers reduce virgin solvent consumption, lower hazardous waste disposal costs, and improve their environmental performance.

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SOURCE PaceZero Capital Partners