Each year, millions of tonnes of PET (Polyethene Terephthalate) and polyester waste end up in landfills or are incinerated, posing a major environmental challenge. Despite the pressing need for sustainable solutions, recycling technologies have remained limited in their ability to effectively tackle complex plastic waste streams. Addressing this gap, DePoly has emerged with a transformative approach to plastic recycling, aiming to redefine how these materials are handled globally.
Now, the Swiss cleantech startup has landed a $23 million seed funding round. MassMutual Ventures led the second closing of the round, joining a lineup of investors that included Founderful, ACE & Company, Angel Invest, Zürcher Kantonalbank, BASF Venture Capital, Beiersdorf Venture Capital, and Syensqo.
The fresh capital will support the launch of a 500-tonne-per-year showcase plant in Monthey, Switzerland, this summer. This facility marks a pivotal transition for DePoly, moving from a laboratory breakthrough to an industrial-scale demonstration. With this expansion, DePoly now stands among Europe’s leading recycling technology companies. Previously, the company secured $13.8 million in funding back in 2023.
The minds behind DePoly
DePoly was founded by Dr. Samantha Anderson, Dr. Christopher Ireland, and Dr. Bardiya Valizadeh, each bringing strong scientific and entrepreneurial expertise to the company’s mission. Dr. Anderson, the CEO, holds a Ph.D. in chemistry and has a passion for translating laboratory research into real-world impact. Dr. Ireland, the CSO, also has a chemistry background and extensive experience in materials science, specialising in polymer research. Valizadeh, the CTO, brings a strong background in technology development and engineering. He focuses on scaling the company’s core recycling technologies to industrial levels, ensuring the successful implementation of DePoly’s sustainable processes.
At the heart of DePoly’s innovation lies a proprietary process that breaks down PET and polyester waste into virgin-quality raw materials without the use of fossil fuels. Unlike traditional recycling methods, DePoly’s technology handles even complex and contaminated plastic streams without compromising material quality. This breakthrough enables discarded items, such as polyester clothing and water bottles, to be transformed back into the fundamental building blocks for new products, supporting the creation of a truly circular materials industry.
DePoly’s recycled materials have already met the rigorous standards required by global leaders across the fashion, cosmetics, and consumer goods industries. Collaborations with companies such as Odlo and PTI have demonstrated that PET waste can be converted into high-performance textile fibres, new bottles, and cosmetic packaging. These partnerships have validated that DePoly’s recycled monomers not only meet but often exceed the highest standards of purity and performance.
A global vision for circular plastics
Looking ahead, DePoly is planning the construction of a commercial-scale plant set to open in 2027, capable of processing significantly larger volumes of PET and polyester waste. This expansion marks a significant milestone in establishing DePoly as a global leader in sustainable, circular plastics. By transforming discarded plastics into valuable raw materials, DePoly aims to reduce reliance on fossil resources, minimise waste, and create a blueprint for a truly circular materials economy.
Recognised as a Technology Pioneer by the World Economic Forum and a winner of the 2024 Top 100 Swiss Startup Award, DePoly exemplifies that sustainable innovation is not only achievable, but it is already underway.
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.
“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 added, “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.”
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