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.

Through these partnerships, DePoly has validated the quality of its recycled monomers by transforming PET waste into new bottles, high-performance textile fibres and cosmetic packaging.

“The upcoming showcase plant will validate our roadmap to creating a truly circular plastics market,” said Samantha Anderson, co-founder and CEO of DePoly. “Following our pilot and showcase plant, our next goal is to scale our operations to industrial size with a first of a kind commercial plant based on our technology.”

The company is planning to build a commercial plant in 2027 that will process significantly larger volumes of PET and polyester waste.

DePoly has secured $23 million in seed funding with MassMutual Ventures joining a second closing of its financing round, positioning it as one of the biggest recycling technology companies in Europe, with more than $30 million raised across two rounds and grants. MassMutual Ventures joins existing investors, including Founderful, ACE & Company, Angel Invest, Zürcher Kantonalbank, BASF Venture Capital, Beiersdorf Venture Capital, and Syensqo.

“DePoly’s proven technology is a game changer addressing a crucial industrial and societal challenge,” said Alix Brunet, European lead at MassMutual Ventures.

David Hanf, who joined DePoly in 2024 as CFO, brings extensive experience from European scale-ups including Smava and Thermondo, Germany’s largest B2C heat service company.

“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,” he said. “We are happy to have expanded our investor base to the US with MassMutual Ventures as we want to become a global champion.”

www.depoly.co