"We Got Funded!" Netherlands-Based EME Raises US$5 Million in a Series A Round led by Wa'ed Ventures as it Expands into KSA "Circularity is new for many industries here- we're working to shift the mindset by showing how overlooked materials are actually opportunities waiting to be unlocked."

Excess Materials Exchange (EME), a Netherlands-headquartered business-to-business (B2B) platform that offers circular solutions to businesses, has raised US$5 million in a Series A round led by Wa'ed Ventures, the $500 million venture capital arm of Saudi Aramco.

Founded in 2017 by Christian van Maaren, enables businesses across a plethora of sectors to transform waste materials into reusable resources, thereby optimizing waste management processes to reduce emissions. The entity achieves this by tracking, tracing, and matching material through its advanced internet of things (IoT) and artificial intelligence (AI) technologies. With the latest funding EME aims to not only create new circular economy-related jobs in the Kingdom, but also establish the country as a hub for circular economy solutions.

Source: EME

For van Maaren, entering this new market has allowed him to observe certain differences in the way the circular economy is approached in KSA as opposed to EME's home ground. "In the Netherlands, circularity has been shaped by necessity," van Maaren shares. "With limited land, natural resources, and mature systems, the focus is on optimization and incremental gains. This environment pushed us to innovate and develop tools that now power circular solutions globally. These include digital product passports to store information about products and materials, ensuring their value is fully traceable, advanced tracking and tracing technology to follow materials seamlessly through the value chain, and, finally, AI and machine learning to optimize the process, ensuring every material finds its highest-value next use- what we call a "match made". Saudi Arabia, however, presents something extraordinary. Here, industries are being built at a scale and speed the world has never seen—offering a rare opportunity to embed circularity from the ground up. With the support of Wa'ed Ventures, we're not just optimizing systems; we're helping create new, intelligent systems—fit for the future."

Indeed, in a nation that, as per an October 2024 report by global professional services firm PwC, "is poised not only for continued economic growth but also for leadership in the global green economy in the years ahead," there are plenty of opportunities that can be explored. "This is where innovation thrives, and this is where EME comes in—unlocking untapped potential in overlooked materials and turning them into opportunities," van Maaren adds. "Every "match made" contributes to building a smarter, more sustainable Kingdom in alignment with Vision 2030."

The founder is also quick to note that certain industries in the Kingdom offer more promise than others. "For starters, there is the construction and infrastructure sector wherein giga-projects like NEOM, Green Riyadh Project, and New Murabba use materials such as steel, concrete, and fit out materials hold immense circular potential," van Maaren notes. "Our platform ensures these materials are recovered, repurposed, and reused—reducing costs, emissions, and waste. Next, there is the energy and manufacturing industry. Saudi Aramco has already demonstrated that circular innovation delivers results. By enabling traceability and high-value reuse, we help energy and manufacturing sectors optimize their resources and reduce emissions. Thirdly, we will be looking at the aviation and logistics sector. As Saudi Arabia becomes a global logistics hub, smarter material management and circular systems will be essential. EME's proven solutions ensure waste is minimized and value is maximized at every stage."

Christian van Maaren, founder and CEO, EME. Source: EME

With new capital under its belt, EME will now aim to localize its technologies for Saudi Arabia, as well as enhance its technology to help its leading organizations better adopt circular economy principles. Here, van Maaren acknowledges that in aiding the country's circular economy goals, there are some loopholes in the market that must be overcome at the earliest. "Circularity is new for many industries here- we're working to shift the mindset by showing how overlooked materials are actually opportunities waiting to be unlocked,"he adds. "Next comes the issue of adapting to scale and complexity. Saudi Arabia's giga-projects and industrial vision demand solutions that work on an unprecedented scale. Our platform's AI-driven capabilities will be tailored to meet this ambition—matching materials with opportunities at a scale that delivers financial, operational, and environmental value. Finally, circular economies thrive on collaboration. We're creating partnerships with logistics providers, quality controllers, and industries to build a connected, efficient system. With Wa'ed Ventures' backing, we aim to ensure every material in Saudi Arabia has a clear path to reuse—a match made in both purpose and value."

For Wa'ed Ventures itself, it has been this approach that has aligned with its own sustainability goals and ambitions. "Wa'ed Ventures is committed to supporting companies that are shaping the future of sustainable infrastructure," said Acting CEO Anas Algahtani, in a statement. "EME's approach to circular solutions is key in fostering sustainable practices within the industry, and we are excited to partner with them to localize these solutions in the Kingdom."

Moving forward, with the support of Wa'ed Ventures, EME now hopes to allocate the new funds towards three critical areas of operation. "Firstly, as briefly mentioned earlier, we're tailoring our AI-driven matchmaking, digital product passports, and tracking technology for Saudi Arabia's industries," van Maaren says. "Second, with Saudi Arabia being our regional launchpad, we're building a local team, forging strategic partnerships, and expanding into sectors that drive the Kingdom's growth. We're ready to help industries unlock value at scale. Finally, we believe circularity doesn't happen in isolation. As such, by investing in partnerships across logistics, quality control, and material recovery, we're creating the systems that ensure every material finds its perfect "match made"—delivering financial, environmental, and social impact."