Financing led by EMV Capital enables DeepTech to continue on the roadmap to commercialise its plastic waste recycling technology
DeepTech Recycling is delighted to announce a first investment of £1 million in funding, allowing the company to advance its strategy to deploy solutions to solve the global environmental crises caused by insufficient and unsustainable management of plastic waste. DeepTech Recycling has a patented technology platform which converts hard-to-recycle plastic waste into high-value, on demand products.
The deal was led by the deep tech venture capital firm EMV Capital, a wholly owned subsidiary of NetScientific PLC, is an investment package from new investors. The target investment programme of c.£3 million will involve additional closings with new investors within the next six months.
The funding will support DeepTech Recycling in its commercialisation of the technology through partnerships with corporate players in the plastic waste and industrials space.
In December 2022, DeepTech Recycling acquired the majority of assets of Recycling Technologies Limited out of administration. Since the acquisition, the value creation team of EMV Capital has worked closely with DeepTech Recycling to consolidate assets and IP, embark on further research and development programmes, and start on the commercial roadmap of the business.
DeepTech Recycling’s technology platform has been developed over more than 10 years of technology development, demonstration and commercialisation, and offers a unique innovative solution to the environmental challenges of plastic pollution.
Marvine Besong, Managing Director and CTO of DeepTech Recycling, said:
"This investment represents a significant vote of confidence in our mission to transform non-recyclable plastic waste into high value oil products, a process that is a key lever in achieving substantial reductions in plastic waste disposal and greenhouse gas emissions. The oil products generated can be used by the petrochemical industry as the feedstock for producing virgin-quality plastics, further re-enforcing our passionate support for the drive towards a circular economy.
"As the business continues to make strong progress, we will leverage this new capital injection to scale up our operations and accelerate the realisation of our robust pipeline of opportunities. EMV Capital has played a key role in facilitating our fundraising initiatives, as well as the relaunch of the business. We are grateful for the insightful contributions of their value creation team."
Dr Ilian Iliev, MD of EMV Capital, and Chair and Investment Director of DeepTech Recycling, added:
"We are pleased with the outcome of this pivotal fundraising for DeepTech Recycling. The company’s innovative chemical recycling platform can be integrated and scaled into the existing waste management value chain internationally. It is a balanced approach, addressing the global plastic waste crisis, while recognising the importance of plastic in the modern economy. We look forward to continuing to work with DeepTech Recycling as it actively contributes to a cleaner, more sustainable future.’’
About DeepTech Recycling Limited
DeepTech Recycling is a UK-based technology company born out of a global environmental crisis caused by insufficient and unsustainable management of plastic waste. The company’s mission is to make plastic sustainable and support the critical global drive towards a circular economy for plastics.
DeepTech Recycling has a unique, patented and demonstrated technology platform, which was developed over more than 10 years of structured and accelerated development and commercialisation, and offers a unique innovative solution to the environmental challenges of plastic pollution.
The technology converts currently unrecyclable plastic waste, that would normally be landfilled or incinerated, into oil that can be used by the petrochemical industry as the feedstock for producing virgin quality plastic.
About EMV Capital
EMV Capital is an award-winning VC investor specialising in early stage high-growth deep tech companies in the life science, sustainability, and industrials sectors in the UK and internationally.
EMV Capital develops unique investment strategies for each portfolio company, drawing on its EIS fund and extensive network of private investors, family offices, institutions, and corporate VCs. Delivery and successful execution of these investment strategies enables innovative portfolio companies to raise funding to drive transformational growth.
EMV Capital is a wholly owned subsidiary of NetScientific plc (AIM:NSCI), an AIM-quoted VC investment group with a focus on deep tech and life sciences.
For any enquiries, please contact Belvedere Communications:
John West: +44 (0) 207 653 8702
Llew Angus +44 (0) 207 653 8703