Dutch plastic recycling company Umincorp (Urban Mining Corp) has raised €15 million (£12.5 million) to fund an innovative magnetic density separation plastic recycling facility.
Invest-NL and Rotterdam Energy Transition Fund will jointly invest the funding.
Umincorp uses a combination of existing and self-developed processes, of which magnetic density separation is the most important and self-developed process step.
This involves separating plastics in the waste stream using a magnetic fluid. This enables Umincorp to recover significantly more plastic than traditional sorting and recycling technologies. It also leads to plastics sorted with a higher purity.
According to the company, it can achieve 99% purity using its technology.
In particular, this will enable sorting or PET trays that will be used in Umincorp’s new rPET factory.
Umincorp co-founder Jaap Vandehoek said: “Our technology has now been proven and offers every opportunity to actually shake up the recycling market. We show that it can be done differently.
“Upscaling allows us to increase our impact and make a crucial contribution to the recycling challenges. The investment demonstrates confidence in our approach to plastic recycling and helps us take the next step in the rollout in the Netherlands and beyond.”