Seed investment for ReSolved Technologies by Brightlands and ifund
ReSolved Technologies is developing a method to retrieve valuable plastics from difficult-to-recycle waste streams and convert them into recycled material of near-virgin quality. The €1m investment by Brightlands Venture Partners and ifund enables ReSolved to further develop the technology and work toward a pilot plant and further commercialisation.
ReSolved Technologies is a high-tech start-up in plastic recycling. With its technology, ReSolved makes it possible to recycle plastics at a high level of quality, offering a solution for the closed-loop recycling of engineering plastics. ReSolved focuses on recycling engineering plastics such as ABS and HIPS, which are notoriously difficult to purify.
The unique technology of ReSolved renders it possible to remove (harmful) additives from these plastic streams. As a result, the quality of the recyclate is very close to that of the newly extracted raw material. Consequently, the recyclate from ReSolved can be used to make high-value products, whereas the vast majority of recyclate currently in circulation can only be used in products that are of lower value (i.e. downcycling).
Norbert Fraunholcz, founder and CEO of ReSolved: “The solvent-based technology offers a unique method for the efficient removal of difficult-to-remove contaminants from waste plastics. In addition, it is synergistic to the current recycling infrastructure based on mechanical recycling on several levels. We believe therefore that the solvent-based method will have a significant contribution to producing higher qualities of recycled material that are needed for a circular plastic supply without disrupting current recycling activities”
Imro Dawson, investment manager at ifund, said, “Closing the loop for plastics is essential in our much needed transition towards a sustainable society. We believe that Resolved Technologies develops a significant part of the puzzle of renewable plastics. That is why we are very excited to be part of this journey with like-minded impact-first investors and entrepreneurs”
The investment is done alongside co-investor Brightlands Venture Partners, which is investing out of the BVP Renewable Chemistry Fund. For more information, see the press release.
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