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Ioniqa Technologies BV and Chemelot Ventures BV announce a multi-million Euro funding for Ioniqa’s Circular PET (plastics) Process
High-tech chemical company Ioniqa Technologies BV (Eindhoven, The Netherlands) and Chemelot Ventures BV announce that they have finalized a multi-million funding round for the upscaling of Ioniqa’s PET (plastics) recycling process with additional commitment from existing shareholders to co-invest (a combined investment of 2,5 million Euro). This unique clean-tech process allows all grades of PET (plastics) to be converted into pure raw materials, i.e. building blocks for ‘virgin’ PET. Unprecedented, Ioniqa’s process removes colour from PET materials, which is ‘the missing piece of the puzzle’ in infinite PET recycling.
“Chemelot Ventures’ contribution is a major milestone in the financing of Ioniqa’s upscaling to industrial level and building a (mini) plant” said Tonnis Hooghoudt, CEO of Ioniqa Technologies. “With our game-changing chemical recycling process we are able to contribute to the circular economy by converting coloured post-consumer PET into pure and clear raw materials for ‘virgin’ PET. We note strong interest from many stakeholders in the circular economy, including leading multinationals. I am confident that we can convert this strong interest into an attractive and sustainable operational business.”
Chemelot Ventures’ Investment Manager Aruna Subramanian commented: “We are excited to support Ioniqa Technologies in their journey to enable 100% PET recycling, a breakthrough in the world of post-consumer PET plastics. We have great confidence in this brand new partnership and the future development of this promising clean-tech company.”
About Ioniqa Technologies
Ioniqa Technologies BV is a high-tech chemical company from the Eindhoven region (The Netherlands) founded in 2009 and specializes in the development of Magnetic Smart Materials and Magnetic Separation Processes. It is a spin-off from the Eindhoven University of Technology and the Dutch Polymer Institute (Eindhoven, The Netherlands).
Chemelot Ventures is an active regional venture capital investor in performance materials and life sciences in the south of The Netherlands with a strong focus on value enhancement of its portfolio companies. Chemelot Ventures is the successor fund of Limburg Ventures which started in 2004 and made 22 investments. The current fund started in 2014 and Ioniqa is its sixth investment.