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.”
About Ioniqa
Ioniqa is a clean-tech spinoff from the Eindhoven University of Technology (The Netherlands), specialized in creating value out of waste by using its proprietary circular technology. With a cost-effective process, Ioniqa is able to close the loop for plastics, starting with PET plastics. Winner of the 2019 National Icon and supported by Dutch ministry of economic affairs, Ioniqa’s innovation transforms all types and colours of PET waste into valuable sources for ‘virgin-quality’ recycled PET. Upcycling processes for other types of plastic are being researched and expected to be launched in the near future.
More information is available at: www.ioniqa.com
Contact email address: Info@ioniqa.com
* Ioniqa was advised in this transaction by Del Canho & Engelfriet.
About Infinity Recycling
Infinity Recycling was established in 2019 to create markets for end-of-life waste streams by investing in advanced technologies that enable circularity in the plastics industry. Their first offering, the Circular Plastics Fund, contributes to solving the plastic waste problem and unlocking much-needed capacity in high- in-demand recycled commodities. The fund implements a return and impact-driven investment strategy that drives value creation in advanced recycling and accelerates the transition to a circular economy for plastics. Building on the momentum in investor interest and deployment, the fund is well on its way to final closing, projected for Q1 2024.
More information is available at: www.infinity-recycling.com
Contact email address: enquiries@infinity-recycling.com