Valais-based start-up DePoly raises CHF 1.3 millionMonday 21 December 2020
Start-up DePoly, which offers an innovative solution for the depolymerization of PET, has just completed a financing round of CHF 1.3 million.
Based at the Energypolis Campus and supported by The Ark Foundation, start-up DePoly has just completed a new round of financing. The investments came from Wingman Ventures, with the participation of Berlin-based Angel Invest Ventures, US company Tiny VC and two experienced executives from the chemical industry.
Thanks to these new funds, the Valais-based company will be able to develop a pilot recycling plant. It will use its innovative technology for the depolymerization of PET and should pave the way for a sustainable circular economy for the plastics industry.
"We are pleased and excited to have investors on board who share our vision and understand the need to improve recycling methods for a sustainable future," says Samantha Anderson, Director of DePoly. In addition to the investors, DePoly was able to benefit from the support of Venture Kick, FIT, Climate-KIC and MassChallenge.
Closing the loop on PET recycling
The global plastics industry produces more than 50 million tons of PET plastic every year. Recycling can currently transform clean bottles into recycled PET pellets (rPET). But this represents only 9% of the PET produced each year. The majority is still incinerated or disposed of in landfills.
To solve this problem, DePoly has developed an innovative solution that allows the depolymerization of PET plastic into its two main chemical components, whose quality is identical to that of the base raw materials. Its process differs from other technologies because it works at room temperature and does not require the application of additional pressure.