DePoly advances circular plastics with new facility and USD 23M in Funding

Swiss startup DePoly, winner of the 2024 TOP 100 Swiss Startup Award, has raised USD 23 million to launch a 500-tonne-per-year recycling showcase plant in Monthey, Switzerland. Set to open this summer, the facility will demonstrate DePoly's proprietary technology that transforms PET and polyester waste into virgin-quality raw materials, without relying on fossil fuels.

Each year, millions of tons of PET and polyester end up in landfills or incinerators, with few truly sustainable recycling solutions available. Cleantech company DePoly aims to change that. The upcoming facility in Monthey will allow DePoly to test its chemical recycling process at a larger scale and gather operational data ahead of commercial rollout.

DePoly's technology converts common plastic waste—from clothing to packaging—into high-purity raw materials that match or exceed virgin quality. By doing so, it offers a viable path toward circularity in industries ranging from fashion to cosmetics. Collaborations with partners such as Odlo and PTI have already validated the performance of DePoly's recycled monomers in products like textile fibers, cosmetic packaging, and PET bottles. Looking ahead, DePoly plans to open its first commercial-scale plant by 2027, capable of processing much larger volumes.

To support its growth, DePoly recently secured USD 23 million in funding, with MassMutual Ventures joining existing backers including Founderful, ACE & Company, BASF Venture Capital, and Zürcher Kantonalbank. With over USD 30 million raised to date, DePoly is positioning itself as one of Europe's leading recycling technology companies.

By minimizing waste and reducing dependence on fossil-based plastics, DePoly is laying the groundwork for a circular materials economy, where yesterday's products become tomorrow's resources.


DePoly co-founders: Christopher Ireland, Samantha Anderson, and Bardiya Valizadeh