DePoly Secures $23M Funding Round
Swiss cleantech DePoly has announced a successful 23 million seed funding round led by MassMutual Ventures for the launch of a 500-tonne-per-year plant to tackle PET and polyester waste with a novel recycling process.
Revolutionizing Plastic Waste Management
DePoly’s innovative technology transforms plastic streams back into raw materials without affecting quality. The seed round included investors like Founderful, ACE Company, and more.
Showcase Plant Launch
DePoly is set to launch a 500-tonne-per-year showcase plant in Monthey, Switzerland, demonstrating industrial-scale implementation of their technology that converts waste into virgin-quality raw materials without fossil fuels.
Closing the Recycling Loop
DePolys technology collaborates with leading companies to transform PET waste into new bottles, textile fibers, and cosmetic packaging, setting new standards for purity and performance with a focus on circularity.
Scaling Operations
DePoly plans to build a commercial plant in 2027 to handle larger waste volumes, aiming to lead in sustainable, circular plastics globally. The seed funding and investor support drive the company’s mission to reduce reliance on fossil resources.
Key Investors and Partnership
MassMutual Ventures joined the funding round, recognizing DePoly’s technology as a game changer in recycling and circular materials innovation. David Hanf, DePoly’s CFO, emphasizes the scalability and competitiveness of DePoly’s technology.
Industry Recognition
DePoly is recognized by the World Economic Forum as a Technology Pioneer and has won the 2024 Top 100 Swiss Startup Award. The company’s sustainable innovation in plastic waste management is reshaping the industry landscape.
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