This initiative aims to significantly reduce the millions of tons of PET and polyester waste that currently end up in landfills or are incinerated annually.

DePoly's technology offers a sustainable alternative to virgin plastics, reducing reliance on fossil fuels and minimizing waste.

The upcoming plant is a pivotal part of DePoly's strategy to scale operations, with plans for a larger commercial facility to process greater volumes of plastic waste.

DePoly has partnered with notable companies across various sectors, including fashion and cosmetics, to validate the quality of its recycled materials and demonstrate successful applications.

Swiss cleantech company DePoly has successfully raised $23 million in a Seed funding round to launch a 500-tonne-per-year PET recycling plant in Monthey, Switzerland, expected to open in the summer of 2025.

DePoly's innovative technology chemically decomposes PET and polyester plastics into their original monomers, setting it apart from traditional mechanical recycling methods that often rely on fossil fuels.

Recognized as a Technology Pioneer by the World Economic Forum, DePoly also won the 2024 Top 100 Swiss Startup Award, underscoring its commitment to sustainability.

CFO David Hanf emphasized the company's ambition to compete with virgin plastic pricing at scale, which is crucial for enhancing its market position and expanding its global presence.

Founded by experts in chemistry and materials science, including Dr. Samantha Anderson, Dr. Christopher Ireland, and Dr. Bardiya Valizadeh, DePoly is poised to lead in the recycling industry.

The company aims to combat plastic pollution by recycling PET into virgin-grade raw materials, thereby contributing to a circular economy.

CEO Samantha Anderson stated that the new plant represents a critical step toward establishing a circular plastics market, with plans for scaling operations to an industrial size by 2027.

The funding round was led by MassMutual Ventures and included contributions from BASF Venture Capital, Beiersdorf Venture Capital, and Zürcher Kantonalbank, among others.