An innovative Scottish recycling start-up has secured funding to speed its move towards commercial operation.
ReVentas revealed Series A investment from Polish private equity firm Orlen VC and German fund Beiersdorf Venture Capital.
The Livingston-based company also picked up cash from Scottish Enterprise, the country’s national economic development agency.
ReVentas said the money would allow it to accelerate development of its first commercial plant. With a capacity of 10,000 tonnes per year, the facility could be operational in 2027.
The firm’s technology uses a chemical solvent to rapidly dissolve polyethylene and polypropylene before producing a plastic it says can replace virgin material.
“This investment marks a major milestone for ReVentas and in moving the recycling of plastic forward,” said chief executive Tom Rose.
“Plastics are an essential part of our world but, so far, the industry has failed to provide workable solutions at scale to deal with the impact they have on our environment.
“ReVentas is providing a simple solution which can change this, ensuring the waste we produce today can and will be directly used in the products we buy tomorrow.”
