Impact Tech | June 28, 2023

DePoly secures $13.8 million to recycle old plastic and cut fossil fuels in new products

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, June 28 – Plastic use is still on pace to triple in the next 40 years. Less than 10% gets recycled (in the US, just 5%).

In Switzerland, DePoly says it has developed a chemical-based recycling process to extract and purify the ingredients for PET plastic from bottles, clothing and other products. The process doesn’t require plastic sorting or cleaning. The powder and liquid materials DePoly produces can be used in lieu of fossil fuels in new plastic products.

The company raised $13.8 million in a seed round backed by BASF Venture Capital, Wingman Ventures, Infinity Recycling and others.