ZURICH, Switzerland, Apr 30, 2025 – DePoly has announced the launch of a 500-ton-per-year showcase plant in Monthey, Switzerland, marking a transition from research and development to early-stage industrial application of its recycling technology.
The facility will demonstrate DePoly‘s process that converts Polyethylene Terephthalate (PET) and polyester waste into raw materials similar in quality to virgin ones, without using fossil fuels. Discarded items, such as polyester shirts and water bottles, will be repurposed as materials for new products. The goal is to show that this technology can work at scale.
DePoly’s technology has demonstrated commercial results through partnerships with companies in fashion, such as Odlo, as well as in cosmetics and consumer goods, including innovators such as PTI. The partnerships have allowed DePoly to validate the quality of its recycled monomers by turning PET waste into new bottles, textile fibers, and cosmetic packaging. This establishes that DePoly’s recycled materials meet the required standards for purity and performance in different industries.
By delivering oil-equivalent monomers, DePoly’s technology sets a benchmark for circularity, offering an alternative to virgin materials. “The upcoming showcase plant validates our roadmap to creating a truly circular plastics market. 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,” said Samantha Anderson, co-founder & CEO of DePoly.
DePoly is collaborating with experienced innovators and experts. Moving from a pilot project to an industrial scale requires commitment. The company plans to build a commercial plant in 2027 to process larger volumes of PET and polyester waste. This step will expand recycling efforts and support the circular economy. DePoly intends to become a global leader in sustainable, circular plastics.
To accelerate its growth, DePoly has raised a total of $23 million in seed funding, with MassMutual Ventures participating in the second closing of the round. This brings DePoly’s total funding, including grants, to over $30 million. 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. This raise and the showcase plant opening are advancing DePoly’s position as a leader in plastics recycling,” said Alix Brunet, Europe lead at MassMutual Ventures.
David Hanf joined DePoly in 2024 as CFO. He has experience with European scale-ups Smava and Thermondo, a leading B2C heating service company in Germany. Both an entrepreneur and an executive, he adds: “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. We are happy to have expanded our investor base to the US with MassMutual Ventures as we want to build a global champion.”
DePoly is turning discarded plastics into raw materials to reduce the use of fossil resources and minimize waste. This supports the development of the circular materials industry. DePoly was named a Technology Pioneer by the World Economic Forum and won the 2024 Top 100 Swiss Startup Award. DePoly demonstrates that sustainable plastic recycling innovation is already underway and making real-world impact.
Source: DePoly
About DePoly
DePoly SA, founded in 2020 and headquartered in Valais, Switzerland, is a cleantech company specializing in chemical recycling of PET plastics and polyester textiles. Its proprietary technology operates at room temperature and standard pressure, converting unsorted, dirty plastic waste into virgin-grade raw materials like purified terephthalic acid (PTA) and monoethylene glycol (MEG) without the need for pre-sorting or cleaning. This innovation serves industries such as packaging, textiles, and waste management, offering sustainable alternatives to fossil-based plastics. As of November 2024, DePoly reported an annual revenue of $1.8 million and had secured $13.8 million in seed funding to scale its operations. The company maintains a showcase plant in Monthey, Valais, to demonstrate its technology at a commercial scale. DePoly’s mission is to contribute to a circular plastic economy by providing efficient recycling solutions for challenging plastic waste streams.
About MassMutual Ventures
MassMutual Ventures (MMV) is a global venture capital firm established in 2014 and headquartered in Boston, Massachusetts, with additional offices in London and Singapore. As the venture arm of Massachusetts Mutual Life Insurance Company (MassMutual), MMV invests in early to growth-stage companies across sectors such as enterprise software (SaaS), cybersecurity, financial technology, healthtech, and climate technology. The firm supports startups that offer differentiated technology solutions and scalable business models, aiming to drive enterprise-level innovation. MMV manages assets under management (AUM) of approximately $750 million, reflecting its commitment to fostering innovation in key industries. Through its strategic investments, MMV plays a significant role in advancing technological solutions that address real industry challenges across various regions, including North America, Europe, and Asia.