DePoly to open PET, polyester recycling demonstration plant

DePoly, an advanced recycler of polyethylene terephthalate (PET) and polyester plastics headquartered in Zurich, Switzerland, has announced the upcoming launch of a 500-tons-per-year demonstration plant in Monthey, Switzerland, slated for this summer. The company says the launch represents a critical step in its journey from laboratory testing to industrial-scale implementation.

The facility will demonstrate DePoly’s proprietary process that converts PET and polyester scrap into virgin-quality raw materials without fossil fuels, it says, adding that its technology already has demonstrated its commercial impact through collaborations with companies such as Odlo in the fashion space, as well as some in the cosmetics and broader consumer goods industry, such as Plastic Technologies Inc. (PTI). Through these partnerships, DePoly says it has validated the quality of its recycled monomers by transforming PET scrap into new bottles, high-performance textile fibers and cosmetic packaging.

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By delivering oil-equivalent monomers, DePoly says its 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,” says Samantha Anderson, DePoly’s co-founder and CEO. “Following our pilot and showcase plant, our next goal is to scale our operations to industrial size with a first-of-its-kind commercial plant based on our technology.”

Additionally, the company says it plans to build a commercial plant in 2027 that will process significantly larger volumes of PET and polyester scrap as it strives to become the global leader in sustainable, circular plastics. To further accelerate this expansion, the company says it has secured $23 million in seed funding with MassMutual Ventures joining the second closing of its round.

The expanded investor base positions DePoly as one of the biggest recycling technology companies in Europe, it claims, with more than $30 million raised across two rounds and grants. MassMutual Ventures joins existing investors that include Founderful, Ace & Co., Angel Invest, Zürcher Kantonalbank, BASF Venture Capital, Beiersdorf Venture Capital and Synesqo.

“DePoly’s proven technology is a game-changer addressing a crucial industrial and societal challenge,” says Alix Brunet, Europe lead at MassMutual. “This raise and the showcase plant opening are advancing DePoly’s position as a leader in plastics recycling.”

David Hanf, who joined DePoly in 2024 as its chief financial officer, says, “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 U.S. with MassMutual Ventures, as we want to build a global champion.”