DeepTech Recycling secures fresh funding in fight to create circular economy for plastics
London, UK
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December 05, 2023 12:10 PM Eastern Standard Time
DeepTech Recycling Managing Director and CTO Marvine Besong speaks to Thomas Warner from Proactive about the company's groundbreaking work in plastic recycling.
He explains that DeepTech Recycling specialises in transforming end-of-life plastics into reusable materials, noting that only 12% of all plastic waste is currently recycled. Their innovative approach involves heating waste plastics in a proprietary modular unit that ultimately turns it back into an oil-like substance that can then be treated and turned into new petrochemical feedstock.
The aim is to promote a circular economy for plastics, preventing them from ending up in landfills or polluting the environment. Recently, DeepTech Recycling secured £1 million in funding, which Besong says will be used to consolidate the assets acquired from Recycling Technologies in December 2022 and to develop and commercialise their technology. This includes setting up a new operating base with labs and bench scale facilities.
Besong emphasises the company's strategy to install recycling facilities at Material Recovery Facilities (MRFs), enabling efficient local processing of plastics. This approach aligns with their vision to tackle plastic waste as close to the consumer as possible, converting low-density plastic into easily transportable liquid form.
Besong says his current focus is on business development, customer engagement, and advancing the company's technology to achieve commercial-scale operations. He stresses the importance of customer-focused models in scaling up their technology. DeepTech Recycling is a NetScientific portfolio company.
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Proactive UK Ltd
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