A Scottish start-up pioneering plastic dissolution recycling has secured Series A funding to scale up its technology from pilot plant to commercial operation over the next three years.
Based in Livingston, ReVentas’ technology aims to tackle two of the most common plastics in use – polyethylene (PE) and polypropylene (PP). Using a chemical solvent to rapidly dissolve PE and PP, the technology filters 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, reducing the cost of production making recycling more economically viable, whilst achieving an 80% reduction in carbon emissions over virgin plastic production.
The Series A round was backed by venture capitalists, Orlen VC, Beiersdorf Venture Capital and Scottish Enterprise, Scotland’s national economic development agency, all of which said they are committed to advancing circular economy technologies.
Tom Rose, CEO 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, added, “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, accelerating the development of ReVentas’ first commercial 10,000 tonne per annum plant, planned for operation in 2027 and an additional 140,000 tonnes planned to be brought online by 2031.
Marek Garniewski, president of the management board of ORLEN VC, commented, “EU regulations mandate that 10% 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.”
Ascan Voswinckel, head of venture capital at Beiersdorf, a global skin care company, said, “We strongly believe in the potential of the ReVentas technology as it bridges a crucial gap in circular PE/PP usage. As investor and strategic partner, we engage with leading startups like ReVentas along the entire value chain to drive innovative, more circular solutions for us and the cosmetics industry.”
