BASF invests in recycling startup

BASF Venture Capital, the corporate venture company of the BASF Group, has invested in Swiss startup DePoly SA, which has developed a new polymer recycling technology.

According to the company, DePoly’s technology can convert mixed post-consumer and post-industrial polyester plastic waste streams and polyester-containing fabrics and fibers, back into their precursors at a similar quality to that of unrecycled material. The process reportedly operates at room temperature and standard pressure, without the need for pre-sorting, pre-washing, or removal of contaminant materials, BASF said.

Plans are for the startup to use the investment to help scale up and improve its depolymerization process and build a demonstration plant expected to be operational in 2024.

“DePoly's technology offers a promising solution to address the global plastic waste challenge and concurrently support the reduction of greenhouse gas emissions related to the production of virgin plastics,” said Markus Solibieda, managing director at BASF Venture Capital.