DePoly secures $23 million to launch 500-tonne-per-year showcase plant

Every year, millions of tons of PET and polyester waste end up in landfills or are incinerated, yet sustainable recycling solutions remain limited. DePoly’s facility will demonstrate the company’s proprietary process that converts PET and polyester waste into virgin-quality raw materials without fossil fuels. It represent a critical step in the company's journey from laboratory breakthrough to industrial-scale implementation

DePoly’s technology has already demonstrated its commercial impact through collaborations with some of the world’s leading companies—not only in fashion, like Odlo, but also in cosmetics and the broader consumer goods industry, including innovators such as PTI. Through these partnerships, DePoly has validated the quality of its recycled monomers by transforming PET waste into new bottles, high-performance textile fibers, and cosmetic packaging. This proves that DePoly’s recycled materials can meet, and even exceed, the highest standards of purity and performance across a wide range of industries.

By delivering oil-equivalent monomers, DePoly’s technology sets a new benchmark for circularity, offering a genuine alternative to virgin materials. "The upcoming showcase plant validates our roadmap to creating a truly circular plastics market. 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," said Samantha Anderson, Co-founder & CEO of DePoly.

Commercial plant in 2027

DePoly is ramping up with world-class innovators, bold thinkers and cutting-edge know-how—taking their pilot victory to industrial scale demands nothing less than unstoppable ambition. The company is planning to build a commercial plant in 2027 that will process significantly larger volumes of PET and polyester waste – a major leap in redefining recycling and advancing the circular economy, as DePoly strives to become the global leader in sustainable, circular plastics.

Seed round of USD23 million

To further accelerate this expansion, DePoly has secured a total of $23 million in seed funding with MassMutual Ventures joining a second closing of this round round. MassMutual Ventures joins existing investors, including Founderful, ACE & Company, Angel Invest, Zürcher Kantonalbank, BASF Venture Capital, Beiersdorf Venture Capital, and Syensqo. The expanded investor base positions DePoly as one of the biggest recycling technology companies in Europe, with more than $30 million raised across the pre-seed and seed rounds and grants. DePoly has announced a first closing of the seed round at $13.8 million in 2023. 

"DePoly's proven technology is a game changer addressing a crucial industrial and societal challenge. This raise and the showcase plant opening are advancing DePoly's position as a leader in plastics recycling," said Alix Brunet, Europe Lead at MassMutual Ventures.

David Hanf, who joined DePoly in 2024 as CFO, brings extensive experience from European scale-ups including Smava and Thermondo—Germany’s largest B2C heat service company. Both an entrepreneur and an executive, he adds: "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."

By transforming discarded plastics into high-quality raw materials, DePoly reduces reliance on fossil resources, minimizes waste, and paves the way for a circular materials industry. Recognized as a Technology Pioneer by the World Economic Forum and a winner of the 2024 Top 100 Swiss Startup Award, DePoly proves that sustainable innovation is not only possible – it's happening now.

(Press release / SK)