Ioniqa announces it has completed a funding round of € 12M for the launch of its 10 kiloton upcycling process for the infinite use of PET plastic materials.
Together with the Ministry of Economic Affairs and Climate Policy, Nationaal Groenfonds and The Coca-Cola Company, Ioniqa’s shareholders provided the funding for the development and build of the first 10kt plant in the Netherlands.
Tonnis Hooghoudt, Ioniqa’s CEO and Founder, said: “This is yet another major milestone in bringing our technology to the market for making plastics a sustainable material. After the earlier announcements stating the strong interest of Unilever, The Coca-Cola Company and Indorama, we have secured the funding to deliver high-grade raw materials for food grade packaging. We are optimistic making this world a better place, by contributing to the cleaning up of the plastic waste on this planet.”
“Even with a compelling business case as Ioniqa’s, attracting financing for innovative technologies in this phase remains a challenge. With the vision and pragmatism of the funding parties involved we have been able to successfully close this round” says Jeroen Bulk, Ioniqa’s CFO.
State Secretary Mona Keijzer of The Netherlands (Economic Affairs and Climate Policy): “Ioniqa’s upcycling process promises to be a pioneering innovation to reduce plastic waste. I like to help these entrepreneurs making their Dutch solutions for global challenges successful. Our common goal for a more sustainable and circular economy leads to new opportunities for The Netherlands to be competitive globally. My Ministry will contribute to this purpose and give support by providing knowledge, financing and partnerships to improve innovative products or services.”
“Together with Netherlands Enterprise Agency RVO we arranged this bespoke loan for Ioniqa and it is a unique example of financing a sustainable project” says Jean-Paul Schaaij, Director of Nationaal Groenfonds “our funding is tailor-made and meeting the requirements of both Ioniqa and RVO. Overcoming the challenge for this innovative project contributes to an on-time start of the new plant and making a significant contribution to the circular economy.”
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