Circular economy: The Scottish start-up behind ‘simple solution’ for recycling plastic
“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” – Tom Rose, ReVentas
A Scottish start-up has secured international investment to scale up its ground-breaking plastic recycling technology.
Livingston-based ReVentas is looking to go from pilot plant to commercial operation over the next three years. The funding round has been backed by venture capitalists Orlen VC and Beiersdorf Venture Capital, and economic development agency Scottish Enterprise.
Dealing with plastic at end-of-life remains a challenge for society, with recycling rates of only around 9 per cent globally. This is due to the complex composition of materials, their colour and the contamination they have picked up, resulting in the majority being incinerated. Any plastic that is recycled is often being downcycled into low value applications.
ReVentas’ recycling technology aims to solve this problem, tackling two of the most common plastics in use today, polyethylene (PE) and polypropylene (PP), making up more than half of the plastic produced.
The firm’s unique tech uses a chemical solvent to rapidly dissolve PE and PP, filtering the plastic of all contaminants including colour and odour, and producing a natural “like-new” plastic which can be sold directly to end customers, replacing virgin plastic. The technology operates at low temperatures and pressures, which is said to cut the cost of production making recycling more economically viable, while achieving an 80 per cent reduction in carbon emissions over new plastic production.
Tom Rose, chief executive of ReVentas, said: “This investment marks a major milestone for ReVentas and in moving the recycling of plastic forward. 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 are 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.”
Derek Shaw, director of entrepreneurship and investment at Scottish Enterprise, said: “Our investment support is focused on helping Scotland’s most innovative and ambitious companies to grow and scale, creating impactful economic change.
“ReVentas is a shining example of this, by working in an area where Scotland has global strengths to develop innovative solutions for one of the biggest global environmental challenges we face right now.”
Beiersdorf Venture Capital and Orlen VC will join LG Chem and others as strategic partners of ReVentas to support the scale up of the technology. With the funding secured, the goal is to accelerate the development of the company’s first commercial 10,000-tonne-per-annum plant, planned for operation in 2027, with an additional 140,000 tonnes planned to be brought online by 2031.
Marek Garniewski, president of the management board of Orlen VC, said: “EU regulations mandate that 10 per cent of packaging materials must come from recycled sources by 2030. However, Europe faces significant shortages of high-quality secondary raw materials suitable for reuse in production.
“Meeting this obligation will be a challenge, but we see it as a business opportunity. Through this latest investment in cutting-edge recycling technology, we aim to leverage it effectively.”
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