Geleen, The Netherlands-based ReSolved Technologies announced that it has secured €1M in a Seed round of funding from Brightlands Venture Partners and the ifund Foundation.
The Dutch company says the funding will enable it to manufacture recyclates that can be applied in various applications, e.g., in electronic equipment, automotive applications, and the building and construction industry.
By transforming currently hard-to-recycle waste streams into near-virgin and circular materials, the Dutch company aims to make a 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,” says Norbert Fraunholcz, 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,” adds Fraunholcz.
ReSolved Technologies: Increasing the circularity of plastics
Founded by Norbert Fraunholcz in 2020, ReSolved Technologies specialises in solvent-based recycling for engineering plastics and soft PVC from complex waste streams, providing a closed-loop recycling solution.
The Dutch company is dedicated to increasing the circularity of plastics by extracting valuable plastics from difficult-to-recycle waste streams and converting them to recycled material of near-virgin quality suited for closed-loop recycling in high-end markets.
The company’s 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 Investor
Brightlands Venture Partners (BVP) is the fund manager of BVP Renewable Chemistry Fund and an 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).
“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,” says Lex Westbroek, Investment Manager at Brightlands Venture Partners.
The ifund Foundation was established to promote the transition to a sustainable world.
The foundation supports social enterprises focused on sustainable and circular energy, food, water, and resource provision.
The ifund Foundation manages both its own investment fund and the wefund network. The network consists of private investors who support the foundation’s mission.
Imro Dawson, Investment Manager at the ifund Foundation, says, “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.”
