Periodic Reporting for period 2 - DEFINITE-CCRI (Deal Engine, with finance, investment and technical expertise for the Circular Cities and Regions Initiative)
Reporting period: 2024-05-01 to 2025-06-30
The current landscape of European CE projects shows that there is discrepancy between projects with high impact and those with a high degree of bankability. This means in practice that projects receiving European or national funding are often based on CE strategies with lower circular transformation potential - e.g. “end-ofpipe” solutions like recovery or recycling strategies - while those with higher transformation potential (e.g. strategies based on principles such as reduce, rethink or refuse) are sometimes left aside due to uncertainties in the return on investment. Getting circular economy innovations to bankability often involves additional transaction costs for project owners. Financiers on the other hand are often reluctant to spend additional resources at the initial preparatory stage for developing projects and therefore upfront this cost. To tackle this dilemma, DEFINITE-CCRI is an EU funded project that supports the Circular Cities and Regions Initiative (CCRI) by creating a project development assistance (PDA) instrument to deliver bankable circular projects to investors and thereby actively contribute to the implementation of the European Green Deal, the Circular Economy Action Plan and the bioeconomy strategy in practice, demonstrating the financial viability—and reducing risk of circular economy investments. By selecting and assisting projects with high potential for success, DEFINITE-CCRI has achieved transformational impacts for Europe's cities and regions, making them more circular and sustainable. The consortium partnership is comprised of ICLEI Europe, Circle Economy Foundation, Stad Ghent, Bankers without Boundaries and the Technical University of Athens.
Specifically, the project aimed to deliver on four key objectives, (1) to build and operate a deal engine for the CCRI and establish it as a sustainable service offering for cities in Europe; (2) to close the gap between circular economy projects in cities and regions and investors and finance partners, and to mitigate investment risks for circular economy projects; (3) to increase the investment viability of innovative, high-impact circularity projects by mitigating risk and increasing their investment readiness, and (4) to successfully launch four investments in circular economy projects.
The project worked to accelerate investment in circular economy initiatives by creating and operating a “deal engine” that helps cities develop bankable, taxonomy-aligned circular projects and connect them with investors. It works to close the gap between project owners and financiers by providing technical and financial support, improving investment readiness, and reducing perceived risks. The project refines methodologies through real-world pilots, supports high-impact initiatives using EU circular frameworks, and targets the successful launch of four financed projects—up to €20 million total—through end-to-end assistance, feasibility work, and innovative financing instruments.
Concretely, the project has achieved the following outputs and outcomes:
- A broad set of PDA services was delivered by all consortium partners to the four projects, including technical and impact-related services, as well as financial services. The services were in part delivered through physical workshops and technical working meetings at each project's location.
- Around eight different subcontracts were facilitated with local service providers to enable additional, tailored delivery of PDA support services by local, external experts.
- After the delivery of PDA due diligence services, four projects have been appraised by investors during two different appraisal events.
- The capacity building efforts have culminated in the production of 20 scripted education videos, that were professionally recorded and launched in March 2025. In the first two weeks after the launch, the videos were already viewed by 2.000 unique viewers.
- Web-based Evaluation Tool has been developed in launched in June 2025, consolidating the methodological elements of the Deal Engine. The tool guides users through all the project development steps of the Deal Engine, using the 20 narrated educational videos developed as well as visualized questionnaires and other features.
- Investment contracts have been facilitated and signed for three projects.
- A policy brief on the different types of projects supported, their investment challenges and required political and regulatory framework conditions has been written and disseminated widely.
- The Circular Investment Readiness Network (CIRN) has conducted a total of 3 sessions during RP2, amounting to 238 participants. A total of 538 participants have been reached for the entire project.
The project worked to accelerate investment in circular economy initiatives by creating and operating a “deal engine” that helps cities develop bankable, taxonomy-aligned circular projects and connect them with investors. It works to close the gap between project owners and financiers by providing technical and financial support, improving investment readiness, and reducing perceived risks. The project refines methodologies through real-world pilots, supports high-impact initiatives using EU circular frameworks, and targets the successful launch of four financed projects—up to €20 million total—through end-to-end assistance, feasibility work, and innovative financing instruments.
Concretely, the project has achieved the following outputs and outcomes:
- A broad set of PDA services was delivered by all consortium partners to the four projects, including technical and impact-related services, as well as financial services. The services were in part delivered through physical workshops and technical working meetings at each project's location.
- Around eight different subcontracts were facilitated with local service providers to enable additional, tailored delivery of PDA support services by local, external experts.
- After the delivery of PDA due diligence services, four projects have been appraised by investors during two different appraisal events.
- The capacity building efforts have culminated in the production of 20 scripted education videos, that were professionally recorded and launched in March 2025. In the first two weeks after the launch, the videos were already viewed by 2.000 unique viewers.
- Web-based Evaluation Tool has been developed in launched in June 2025, consolidating the methodological elements of the Deal Engine. The tool guides users through all the project development steps of the Deal Engine, using the 20 narrated educational videos developed as well as visualized questionnaires and other features.
- Investment contracts have been facilitated and signed for three projects.
- A policy brief on the different types of projects supported, their investment challenges and required political and regulatory framework conditions has been written and disseminated widely.
- The Circular Investment Readiness Network (CIRN) has conducted a total of 3 sessions during RP2, amounting to 238 participants. A total of 538 participants have been reached for the entire project.
The DEFINITE-CCRI Deal Engine mechanism, the PDA approach behind the work delivered to selected circular solutions having successfully received financing, has been enshrined into the "Circularity Tool". The tool is hosted on the DEFINITE-CCRI platform (https://tool.definite-ccri.eu/(opens in new window)). The DEFINTIE-CCRI Circularity Tool supports the development of circular ventures. The tool has two modules and each Module has two units. While its possible to navigate freely around the tool, completing the modules and their units in order is recommended for best results. The tool assesses progress with developing circular ventures and provides guidance, sometimes recommending take certain actions before continuing with the tool. Alongside the assessment part, the tool includes a set of 20 scripted videos on technical and financial due diligence requirements for circular project development, which provide capacity buidling to circular venture developers along the way of completing the tool's modules and units. The is recommended for use by venture developers, start-ups, local athorities and other project development actors.