The company behind a recycling process to turn coloured PET into natural has been given funding to build a testing facility.
Ioniqa Technologies from the Netherlands has worked with Chemelot Ventures to co-invest €2.5 million (£1.8 million) into a process that removes the colour from PET to turn it into a natural coloured material.
Inoiqa Technologies chief executive Tonnis Hooghoudt said: “Chemelot Ventures’ contribution is a major milestone in the financing of Ioniqa’s upscaling to industrial level and building a mini plant.
“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.”