DePoly raises CHF1.3M Pre-Seed round to revolutionize PET plastic recycling globally
16.12.2020
DePoly, an EPFL spin-off and chemical technology startup, tackles the spectrum of recycling by turning low valued materials (PET waste) into high-valued chemicals like TPA creating a circular economy. The financing round was led by Wingman Ventures with the participation of Angel Invest Ventures, Tiny VC, and two seasoned executives from the chemicals industry.
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DePoly has developed a novel, groundbreaking solution that allows them to depolymerize PET plastic back to its two main chemical components that are identical in quality to the raw materials currently used. Their process differs from other technologies as it operates at room temperature and no application of additional pressure is required. Furthermore, it can uniquely deal with mixed plastics (PET in the presence of PVC, PP, PS, etc), mixed colors, dirty PET plastic, as well as fabrics and fibers. The raw materials, or monomers, that are sold back to the industry are the same quality of chemicals produced by the oil industry, resulting in a sustainable source of monomers for PET plastic production that won't hinder our efforts to fight climate change.
The financing round was led by Wingman Ventures with participation of Berlin-Based Angel Invest Ventures, US-based Tiny VC and two seasoned executives from the chemicals industry. With the new funds, the company will develop an enhanced recycling pre-demo plant for the depolymerization of PET plastic to the very raw materials required to produce PET plastic in the first place, thus uniquely enabling a truly sustainable circular economy in the plastic production industry.
Depoly has been supported by both Venture Kick and TOP 100.
The financing round was led by Wingman Ventures with participation of Berlin-Based Angel Invest Ventures, US-based Tiny VC and two seasoned executives from the chemicals industry. With the new funds, the company will develop an enhanced recycling pre-demo plant for the depolymerization of PET plastic to the very raw materials required to produce PET plastic in the first place, thus uniquely enabling a truly sustainable circular economy in the plastic production industry.
Depoly has been supported by both Venture Kick and TOP 100.