Valais-based start-up DePoly awarded a Tech Seed loanWednesday, 10 June 2020
Valais-based start-up DePoly, who recycles PET plastic waste into raw material that can be used for new PET products, was awarded a Tech Seed loan of CHF 100,000.
As plastic waste, pollution from landfills and dependence on oil represent major concerns in modern society, current PET recycling solutions are often limited by the presence of different types of plastics in the waste stream. With a system that selectively processes PET in the presence of other plastics, DePoly wants to close the PET production cycle by recycling post-consumer PET plastic waste.
Founded in February 2020, DePoly has already received numerous grants, including VentureKick, Climate-KIC, EPFL, Venture and CleanTechAlps. "The FIT loan will finance the 10 kg unit that we will use as a pilot for the future demonstration unit, and will enable us to cover the salaries of the team needed to carry out these next steps," explains Samantha Anderson, CEO and founder of DePoly.
Innovating to solve the global plastics problem
The process developed by DePoly works with all PET plastics, including color blends, multilayer fibers and polyester fibers at room temperature without additional heat or pressure, and with durable and environmentally friendly chemicals. The start-up, accompanied by The Ark's start-up incubator, estimates that each ton of recycled plastic saves energy equivalent to the annual consumption of four European homes, 18 barrels of burnt oil or a 10-passenger flight from London to New York.