Funding Of Ioniqa’s Enhanced Recycling Business Of Pet Polyester
Ioniqa Technologies B.V. (‘Ioniqa’) is pleased to announce a significant growth investment by Infinity Recycling (‘IRC’)’s Circular Plastics Fund to help accelerate the scale-up and roll out of its enhanced PET Polyester recycling technology.
Ioniqa’s innovative technology upcycles low-grade post-consumer plastic waste to a virgin-like quality feedstock. With the ability to process coloured plastic waste flakes Ioniqa’s technology offers a solution to process PET waste that is currently non-recyclable, creating a recycled material suitable for high quality food grade applications. Ioniqa has successfully demonstrated this technology in an industrial production facility in The Netherlands, and is now bringing it to market with strategic licensing partner Koch Technology Solutions.
Infinity Recycling provides growth capital to those companies that can help accelerate the creation of a circular economy for plastics, and subsequently helps them to scale. Ioniqa’s enhanced recycling solution stands out by complementing existing recycling technologies with a cost-efficient solution, therewith catalysing the scale up of the industry as a whole.
Tonnis Hooghoudt, Founder and CEO of Ioniqa, said, “Developing a groundbreaking new technology like ours is a matter of patience, dedication and funding. With this investment by IRC we can further extend Ioniqa’s horizon with a view to successfully launch industrial licenses for new customer plants worldwide. Furthermore, the investment allows Ioniqa to broaden the types of feedstocks it can process by adding Polyester fibres to our scope”.
Jeroen Kelder, Managing Partner at Infinity Recycling, commented, “we have followed Tonnis and the team for a few years now and are thrilled to help the company further scale up and roll out its groundbreaking technology. The world is in urgent need of circular solutions for the plastics packaging and clothing markets. Ioniqa has developed an efficient solution that can turn low grade PET (and polyester) waste into materials suitable for high quality food grade or clothing applications”. Arie Hooimeijer, Infinity Recycling’s Head of Investments said, “We are looking forward to working with the Ioniqa team and its partner Koch Technology Solutions to accelerate the company’s success and deliver real impact for our stakeholders and most importantly for the environment.”
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