Itero Technologies to Convert Plastic Waste Into High-Value Products

SEATTLE (Scrap Monster): Itero Tecnologies announced that it has received an investment of €6 million, in support of design and construction of its first at-scale demonstration plant located at the Brightlands Chemelot Campus, Geleen, Netherlands. This includes €5 million investment from Rotterdam-based Infinity Recycling's Circular Plastics Fund (CPF).

The proposed plant will employ proprietary pyrolysis process developed by Itero to convert plastic waste into high-value chemical products. These chemical products will be used in the production of virgin-quality plastics. The plant will have capacity to process 27,000 tonnes of residual plastic waste per annum. This is almost equivalent to the plastic packaging waste generated by Amsterdam municipality every year.

The investment is considered as the continuation of a longstanding relationship between Itero and Infinity Recycling.

Mr. Simon Hansford, CEO, Itero Technologies noted that the company is delighted to have Infinity Recycling and other investors acknowledge the significant potential of the technology developed by it. The plant aims to respond to environmental concerns about plastic waste by developing a process to recycle plastic safely, sustainably and economically, he added.

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