TU/e spin-off gets €10 million

Photo credit: Hans Braxmeier/Pixabay

Ioniqa is an Eindhoven University of Technology spin-off.

It specialises in recycling PET bottles into high-quality materials. It raised €10 million in an investment round. The company intends to use the money to increase its factory’s production capacity.

Then they can manufacture more products made from recycled PET plastic. “Without money, there’ll be no successful innovations like ours. It reduces PET plastic’s carbon footprint by 75%”, CEO Tonnis Hooghoudt says.

‘Never been tried before’

“We’re providing a solution that the market’s never tried on this scale before. It needs the right resources, including funding, to meet unexpected challenges. With the new capital, Ioniqa can continue its journey.

“We’ll use the funding further to ramp up our 10kt plant to full capacity. And to prepare licensing packs. We’ll bring these on the market in early 2022,” says the CEO.

“We want to better the world. That’s by using plastic waste as raw materials for new food-safe products.” Ioniqa says it’s researching how to recycle other types of plastic too.

Source: Studio040

Translator: Bob

Editor: Melinda Walraven

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