€1 Million Seed Investment Fuels ReSolved Technologies' Mission for Sustainable Recycling Solutions
The ReSolved Technologies team: Jean-Jacques Colin, Norbert Fraunholcz and Luca Loise
Geleen, The Netherlands, 28 August 2023
ReSolved Technologies, a pioneer in plastic recycling technology, announced the successful closing of a €1 million Seed investment made by Brightlands Venture Partners and the ifund Foundation. The funds will be used to further develop and scale up the ReSolved technology and support the company’s mission of a circular material supply.
ReSolved Technologies specializes in solvent-based recycling, offering a solution for the closed-loop recycling of engineering plastics and soft PVC from complex waste streams. The ReSolved technology involves selective dissolution of plastics followed by deep purification of the polymer solution including the removal of legacy additives, resulting in near-virgin quality recycled materials. The funding will be used to further develop and commercialize the ReSolved technology.
The investment round led by BVP’s Renewable Chemistry Fund, in collaboration with the ifund Foundation, propels the company towards pilot production scale. With this funding, ReSolved Technologies will have the capability to manufacture recyclate that can be applied in various applications, e.g., in electronic equipment, automotive applications and in the building and construction industry. This step is essential to further validate the technology and forge industry partnerships, driving ReSolved Technologies’ vision to introduce its solutions to the market expeditiously. By transforming currently hard-to-recycle waste streams into near-virgin and circular materials, ReSolved Technologies makes a profound positive environmental impact.
“The solvent-based technology offers a unique method for the efficient removal of difficult-to-remove contaminants from waste plastics. In addition, it is synergistic to the current recycling infrastructure based on mechanical recycling on several levels.” said Norbert Fraunholcz, the CEO and founder of ReSolved Technologies. “We therefore believe that the solvent-based method will have a significant contribution to producing higher qualities of recycled material that are needed for a circular plastic supply without disrupting current recycling activities.”
“ReSolved Technologies is aligned with our Circular Economy thesis and can play an important role in addressing the critical gap in recycling e-waste and plastic car components, among others. ReSolved’s innovative approach has the potential to reduce the environmental footprint of durable plastics” stated Lex Westbroek, Investment Manager at Brightlands Venture Partners.
Imro Dawson, Investment Manager at the ifund Foundation, stated that “Closing the loop for plastics is essential in our much-needed transition towards a sustainable society. We believe that Resolved Technologies develops a significant part of the puzzle of renewable plastics. That is why we are very excited to be part of this journey with like-minded impact-first investors and entrepreneurs.”
About ReSolved Technologies
ReSolved Technologies (www.resolved-tech.com) is a startup company located on the Brightlands Chemelot Campus in Geleen, The Netherlands. It was founded in December 2020 in order to further improve and implement its solvent-based technology for the recycling of engineering plastics and (soft) PVC.
ReSolved Technologies is dedicated to increase the circularity of plastics by extracting valuable plastics from difficult-to-recycle waste streams and convert them to recycled material of near-virgin quality that is suited for closed-loop recycling in high-end markets. ReSolved Technologies develops next level recycling technologies to achieve this goal.
About Brightlands Venture Partners
Brightlands Venture Partners (BVP) is the fund manager of BVP Renewable Chemistry Fund and is a so-called ecosystem investor. BVP invests in companies benefiting from and contributing to the Brightlands campuses in the Netherlands. Other funds under management are Chemelot Ventures, Brightlands Agrifood Fund and Limburg Ventures. Together the funds have made over 50 investments. BVP Renewable Chemistry Fund is co-funded by the Netherlands Enterprise Agency (RVO).
Read more: www.brightlandsventurepartners.com
About stichting ifund
The ifund Foundation was established in 2014 to promote the transition to a sustainable world. It believes that moving away from merely linear business models towards circular models is the only way to achieve that. Therefore, the ifund Foundation supports innovative ‘social enterprises’ that lay down a path towards a sustainable and circular provision of energy, food, water, and resources. The ifund Foundation manages its own investment fund and the wefund network, which consists of private investors that support the ifund Foundation’s mission.
Read more: www.ifund.nl