Zurich - Recycled fibre specialist DePoly, which has been working closely with Odlo, a major exponent of seamless knitted sportswear, is to scale up production of recycled polyester with the opening of a new plant in Monthey, Switzerland.
The 500-tonne-per-year showcase plant will demonstrate DePoly’s technology which claims to recycle plastic waste – from polyester shirts to water bottles – into virgin-quality raw materials.
The Swiss firm has already formed partnerships with outdoor wear brand Odlo, and others, to transform PET waste into high-performance textile fibres, new bottles and cosmetic packaging.
Samantha Anderson, co-founder and CEO of DePoly, said the new plant represented a “critical step in the company's journey from laboratory breakthrough to industrial-scale implementation”.
“The upcoming showcase plant validates our roadmap to creating a truly circular plastics market,” she said.
“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.”
DePoly is already planning to build a commercial scale plant in 2027 that will be capable of processing significantly larger volumes of PET and polyester waste.
To accelerate this expansion, the company secured a total of $23 million in seed funding with MassMutual Ventures joining a second closing of its round.
DePoly has now raised more than $30 million across two rounds and grants. MassMutual Ventures joins existing investors including Founderful, ACE & Company, Angel Invest, Zürcher Kantonalbank, BASF Venture Capital, Beiersdorf Venture Capital and Syensqo.
“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.
As a Swiss company with Norwegian roots Odlo International describes itself as one of the European market leaders in the functional sports underwear segment. With its outdoor, running, bike, x-country, tec-shirts and kids collections, Odlo says it has repeatedly and successfully set trends, the company’s functional knits are also renowned for functionality, high wearing comfort and skin-friendly properties.
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