DePoly has revealed that it will launch a new 500-tonne-per-year showcase plant in Monthey, Switzerland, later this year. The move is the sustainable PET-to-raw-material recycling company’s latest step from laboratory breakthrough to industrial-scale implementation. At the new facility, the company will be able to showcase its proprietary process where PET and polyester waste are converted into virgin-quality raw materials without fossil fuels.
DePoly
DePoly's Monthey showcase plant
DePoly has previously collaborated with various industries like fashion (with Odlo), cosmetics, and the broader consumer goods industry like PTI. The company has been able to leverage these partnerships to validate the quality of its recycled monomers by reusing PET waste to make new bottles, high-performance textile fibres, and cosmetic packaging.
“The upcoming showcase plant validates our roadmap to creating a truly circular plastics market,” said Samantha Anderson, Co-Founder & CEO of DePoly. “Following our pilot and showcase plant, our next goal is to scale our operations to industrial size with a first-of-a-kind commercial plant based on our technology.”
Expansion lies ahead for DePoly
In 2027, the company is planning to build a commercial plant where larger volumes of PET and polyester waste can be processed. This is a huge leap in redefining recycling and advancing the circular economy, with DePoly able to strengthen its position in providing sustainable, circular plastics.
To aid with this expansion, DePoly secured $23 million in seed funding with MassMutual Ventures. Through the expansion, the company will become one of the biggest recycling technology companies in Europe, having raised over $30 million across two rounds and grants. Other investors include:
- Founderful.
- ACE & Company.
- Angel Invest.
- Zürcher Kantonalbank.
- BASF Venture Capital.
- Beiersdorf Venture Capital.
- Syensqo.
“DePoly's proven technology is a game changer addressing a crucial industrial and societal challenge,” added Alix Brunet, Europe Lead at MassMutual Ventures. “This raise and the showcase plant opening are advancing DePoly's position as a leader in plastics recycling.”
David Hanf, CFO of DePoly in 2024, concluded, “We are convinced our technology is one of the fastest to scale and will allow us to compete with virgin pricing at scale, a key factor for success. We are happy to have expanded our investor base to the US with MassMutual Ventures as we want to build a global champion.”