Ioniqa secures funding to scale up PET upcycling - sportstextiles: Lea SportsTextiles

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Ioniqa secures funding to scale up PET upcycling process

14/02/2019
Ioniqa secures funding to scale up PET upcycling process
Specialist PET recycling company Ioniqa announced at the end of January that it had completed a funding round of €12 million for the launch of its PET upcycling process on a 10,000-tonne scale. 

The funding for the development of this plant was provided by Ioniqa’s shareholders, the Dutch Ministry of Economic Affairs and Climate Policy, the Dutch National Fund for Green Investments and The Coca-Cola Company. 

The company’s CEO and founder Tonnis Hooghoudt described securing this funding as “yet another milestone in bringing out technology to the market for making plastics a sustainable material”.

For her part, Mona Keijzer, State Secretary of Economic Affairs and Climate Policy, said: “Ioniqa’s upcycling process promises to be a pioneering innovation to reduce plastic waste. I like to help these entrepreneurs making their Dutch solutions for global challenges successful. Our common goal for a more sustainable and circular economy leads to new opportunities for The Netherlands to be competitive globally.”

Ioniqa was founded in 2009 as a spin-off clean-tech company from Eindhoven University of Technology and the Dutch Polymers Institute.

Related stories:

Ioniqa wants to ‘close the oil tap’ for plastic 11/07/2019
IBM joins PET recycling game 26/03/2019
PET recycling firm reaches “last stop” before industrial-level production 15/02/2016

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