DePoly secures total of $30 million in funding – Innovation in Textiles

DePoly, the Zurich-headquartered developer of a new PET-to-raw-material technology, has secured $23 million to finance an upcoming 500-tons-per-year showcase plant in Monthey, Switzerland, this summer.

The facility will demonstrate DePoly’s proprietary process that converts PET and polyester waste – from polyester shirts and water bottles to packaging – into virgin-quality raw materials. It has already demonstrated its potential commercial impact through collaborations with some of the world’s leading companies, not only in fashion and PET bottles, but also in cosmetics and the broader consumer goods industry.

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Read the full article via this link: https://www.innovationintextiles.com/fibres-yarns-fabrics/depoly-secures-total-of-30-million-in-funding/