According to the company, which was recognised as a Technology Pioneer by the World Economic Forum, each year millions of tons of PET and polyester waste end up in landfills or are incinerated, yet sustainable recycling solutions still remain limited.
The firm said it is scaling up as it plans to implement its technology that transforms plastic waste into virgin-quality raw materials without the use of fossil fuels.
The new plant is set to open this summer in Monthey, Switzerland and will convert PET and polyester waste into virgin-quality raw materials without fossil fuels.
Transforming PET waste into cosmetics packaging
DePoly said its technology has already demonstrated its commercial impact through collaborations with some of the world’s leading companies. It said that through these partnerships, it has validated the quality of its recycled monomers by transforming PET waste into new bottles, high-performance textile fibres, and cosmetic packaging to create high-purity and performance recycled materials.
By delivering oil-equivalent monomers, the company said its technology “sets a new benchmark for circularity, offering a genuine alternative to virgin materials.”
According to the business’ co-founder & CEO, Samantha Anderson, the upcoming showcase plant is part of the company’s roadmap to creating a truly circular plastics market. “Following our pilot and showcase plant, our next goal is to scale our operations to industrial size with a first of a kind commercial plant based on our technology,” she said.
DePoly is now aiming to become the global leader in sustainable, circular plastics and also planning to build a commercial plant in 2027 that will process significantly larger volumes of PET and polyester waste.
The firm recently secured $23m in seed funding with MassMutual Ventures, which joins existing investors such as BASF Venture Capital, Beiersdorf Venture Capital, and Syensqo.
Europe Lead at MassMutual Ventures. Alix Brunet, called DePoly’s technology “a game changer addressing a crucial industrial and societal challenge.”
This funding now positions DePoly as one of the biggest recycling technology companies in Europe, with more than $30m raised so far.
