Ioniqa Technologies BV and Chemelot Ventures BV announce a multi-million Euro funding for Ioniqa’s Circular PET (plastics) process.
Ioniqa was one of e52’s “top-10-startups-to-watch”. We wrote this feature on their activities
Eindhoven based high-tech chemical company Ioniqa Technologies BV and Chemelot Ventures BV announce that they have finalized a multi-million funding round for the upscaling of Ioniqa’s PET (plastics) recycling process with additional commitment from existing shareholders to co-invest (a combined investment of 2,5 million Euro).
This unique clean-tech process allows all grades of PET (plastics) to be converted into pure raw materials, as building blocks for ‘virgin’ PET. Unprecedented, Ioniqa’s process removes colour from PET materials, which is ‘the missing piece of the puzzle’ in infinite PET recycling.
“Chemelot Ventures’ contribution is a major milestone in the financing of Ioniqa’s upscaling to industrial level and building a (mini) plant” said Tonnis Hooghoudt, CEO of Ioniqa Technologies. “With our game-changing chemical recycling process we are able to contribute to the circular economy by converting coloured post-consumer PET into pure and clear raw materials for ‘virgin’ PET. We note strong interest from many stakeholders in the circular economy, including leading multinationals. I am confident that we can convert this strong interest into an attractive and sustainable operational business.”
Chemelot Ventures’ Investment Manager Aruna Subramanian commented: “We are excited to support Ioniqa Technologies in their journey to enable 100% PET recycling, a breakthrough in the world of post-consumer PET plastics. We have great confidence in this brand new partnership and the future development of this promising clean-tech company.”
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