Koch Technology Solutions and Ioniqa Technologies to commercialise PET upcycling technology
Koch Technology Solutions (KTS), a Koch Engineered Solutions company, and Ioniqa Technologies B.V. (Ioniqa) today announced a partnership to scale up and commercialize Ioniqa's advanced Polyethylene Terephthalate (PET) recycle technology in the plastics industry. As part of this collaboration, KTS has committed to invest up to €30M in Ioniqa.
Ioniqa has developed an innovative process that utilizes low-grade post-consumer PET to infinitely produce a feedstock that displaces virgin raw materials used in the production of polyester products. Ioniqa has successfully demonstrated this technology in The Netherlands' 10KTA production facility.
"KTS has a long history in the polyester industry, and we recognize the value proposition of this disruptive technology that will fundamentally change how recycling is done," said Adam Sackett, President of KTS. "With an aligned vision on the future of PET recycling, we're excited to launch this partnership with Ioniqa and leverage our complementary capabilities to advance solutions which are tailored to the needs of the market."
KTS and Ioniqa's partnership will work to address the growing demand for recycled content in the 30 million metric tonnes per annum PET market. Ioniqa's technology offers a solution to PET waste that is currently non-recyclable, turning the waste into materials suitable for high quality food grade applications such as beverage bottles. KTS and Ioniqa consider the technology as a disruptor in the PET industry providing a sustainable economic recycle proposition to conventional manufacturing routes. The partnership will drive a circular process that addresses environmental impacts of the current PET industry.
Tonnis Hooghoudt, CEO and Founder of Ioniqa said "After the scaling of our technology to a 10KTA depolymerization plant in The Netherlands, this KTS partnership is a major stepping stone for Ioniqa in commercializing its technology on a global level. Our expertise in breaking down plastic waste into virgin-like monomers matches seamlessly with KTS' track record in designing and licensing PET production processes worldwide. We believe that together we can meet the strong market demand for recycled PET materials by jointly providing licenses and cleaning up the planet".
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