Switzerland – BASF Venture Capital GmbH (BVC), the corporate venture arm of the BASF Group, has announced its investment in the Swiss startup DePoly SA (DePoly), a provider of sustainable plastic solutions.
Founded in 2020, DePoly has developed a unique chemical recycling technology that converts mixed post-consumer and post-industrial polyester plastic waste streams, as well as polyester-containing fabrics and fibers, back into their original building blocks with virgin-grade quality. This breakthrough process operates at room temperature and standard pressure, eliminating the need for pre-sorting, pre-washing, or removal of contaminants. The investment by BVC underscores BASF’s commitment to developing sustainable solutions for a circular economy.
BVC co-led DePoly’s CHF12.3 million seed financing round alongside Wingman Ventures, with participation from Beiersdorf, Infinity Recycling, CIECH Ventures, Angel Invest, and other strategic investors. The funding will enable DePoly to accelerate the scale-up and development of its depolymerization process, paving the way for the construction of a demonstration plant expected to be operational by 2024.
Plastic waste challenge
Plastic waste poses a significant challenge, with only about 10 percent of plastics being recycled, while the majority ends up in incineration or landfill. As brand owners increasingly aim for higher rates of recycled content in their products, the demand for advanced recycling technologies is set to rise. DePoly offers a unique solution to address this need. Samantha Anderson, CEO and co-founder of DePoly, expressed the potential of their technology to revolutionize the lifecycle of PET plastics and contribute to global climate efforts. The support from BASF Venture Capital and other strategic investors will enable DePoly to implement its solution on a larger scale.
More circular economy
BASF, in line with its commitment to a more circular economy, is actively pursuing the use of recycled and renewable feedstocks, establishing new material cycles, and creating innovative business models. The company’s Circular Economy Program aims to double its sales generated from circular economy solutions to €17 billion by 2030. BASF’s ChemCycling business is an example of these efforts. The investment in DePoly further demonstrates BASF’s dedication to supporting sustainable goals and driving the circular plastics economy.
