Itero Technologies gets €6 million investment for plastic chemical recycling plant

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UK firm Itero Technologies has received €6 million (£5.03 million) investment to develop a plastic chemical recycling demonstrator plant in The Netherlands.

Of this, €5 million (£4.2 million) has come from Infinity Recycling’s Circular Plastics Fund.

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Located at the Brightlands Chemelot Campus in Geleen, the plant will be able to process 27,000 tonnes of residual plastic waste annually. This is equivalent to the amount of plastic packaging generated by the population of the Amsterdam municipality each year.

Using a proprietary pyrolysis process, plastic waste that would previously have gone to landfill or incineration is converted into a high-quality chemical that can be used as feedstock for virgin-like plastics.

Itero chief executive Simon Hansford said: “We are delighted that the significant potential of the technology developed by Itero is acknowledged by Infinity Recycling and other investors.

“Maintaining public goodwill and responding to environmental concerns about plastic waste, requires a process to recycle plastic safely, sustainably, and economically. Itero is working to provide a solution to that problem.”

As well as this demonstrator plant, Itero currently has a UK-based research and development facility that carries out feedstock and product quality testing near to Heathrow, London.