Europe
17 June 2026
Nextchem expands circular metals recovery with ETEK deal
Written by Natalie Noor-Drugan
Nextchem, the sustainable technology arm of MAIRE, has strengthened its circular solutions platform by acquiring a 70% stake in Italian metals recovery specialist Etek S.r.l., which owns 100% of TBRC furnace manufacturer Sisemtek S.r.l. The transaction gives Nextchem an integrated upstream–downstream technology and equipment offering for the recovery of precious and critical metals from complex industrial waste streams, including residues generated by fertilizer and wider process plants.
Transaction details
The enterprise value ascribed to 100% of Etek and Sisemtek is €17.5 million ($18.9 million), with total consideration for the 70% interest amounting to €11.1 million ($12.0 million). Of this, €5.0 million ($5.4 million) is being paid upfront from existing facilities granted to Nextchem, with the balance structured as potential earn outs linked to the companies’ performance through 2030.
Technology and feedstocks
Etek supplies large scale hydrometallurgical and pyrometallurgical process solutions, while Sisemtek designs and manufactures Top Blown Rotary Converter (TBRC) furnaces and other key equipment for metals recovery plants. The technology handles a wide range of metal bearing feedstocks, including waste electrical and electronic equipment, mining tailings, spent catalysts, batteries, photovoltaic panels and other industrial residues, producing black copper and, via downstream refining, ingots of copper, gold, silver, platinum and palladium.
Focus on spent catalysts and plant residues
By integrating pyrometallurgical, hydrometallurgical and electrowinning steps, Etek’s platform is positioned to process complex residues such as spent catalysts and metal rich dusts that arise across ammonia, nitric acid, methanol and broader syngas based value chains. The TBRC centred flowsheet is designed to maximise metal recovery yields, maintain flexibility on heterogeneous feeds and improve energy efficiency, supporting both recovery of valuable metals and reduction of hazardous waste liabilities for plant operators.
Role within Nextchem and MAIRE
Nextchem plans to embed Etek’s capabilities across its existing circular solutions portfolio, which includes mechanical and chemical plastics recycling and waste gasification to synthesis gas. The group will offer clients a full project scope from feasibility studies and technology licensing through proprietary equipment supply, engineering, commissioning and operational support for metals recovery schemes.
Fabio Fritelli, managing director of Nextchem, said: “This acquisition represents another milestone in the evolution of Nextchem’s circular solutions platform, built over time leveraging both internal know how and strategic acquisitions… With Etek and Sisemtek, we now add a proprietary platform for the recovery of strategic and precious metals from complex waste streams, further enhancing our resource recovery capabilities and opening new opportunities in critical raw materials for high tech and industrial sectors.”
