Ciech S A : Ventures among the investors of the innovative start-up – DePoly, which utilizes chemical recycling technology for plastics

CIECH Ventures has become an investor in the deep tech start-up - DePoly, which has developed and applies a unique chemical recycling technology for plastics, using a scalable, advanced solution that reduces carbon footprint and creates economic added value. The investment in DePoly aligns with one of the areas of activity of CIECH Ventures, which is waste management in accordance with the concept of a circular economy. CIECH Ventures is a company operating in the open innovation formula, initiating cooperation between the CIECH Group and start-ups developing technologies in the field of chemistry, sustainable industry, and agriculture.

DePoly recently closed an investment round with BASF Venture Capital and Wingman Ventures as so-called leading investors, including CIECH Ventures, Beiersdorf, Infinity Recycling, Angel Invest, and several other investors. The round was valued at approximately EUR 12.6 million. The investment is a crucial milestone for DePoly and will enable further scaling of their technology. The company is working on the construction of a new demonstration plant with a production capacity of 500 tons per year (currently DePoly has a facility with a capacity of 50 tons per year).

On average, more than 400 million tons of plastics are produced each year, less than 10 percent of which is recycled, with the majority ending up in incinerators or landfills around the world. Plastics, such as polyethylene terephthalate (PET), are found in many everyday items, such as clothing, packaging and outdoor equipment. The high costs and difficulties associated with sorting, separating, and cleaning plastics, combined with the lack of global-scale solutions, mean that only plastics that are pure and simple in composition (without mixtures with other materials) are subjected to recycling.

DePoly start-up has developed a unique chemical recycling technology for plastics, which involves processing them into raw materials for reuse, while maintaining their high quality. Currently, DePoly converts PET plastics and polyester textiles - originally made from fossil raw materials -back into their primary chemical components.

The uniqueness of DePoly's chemical recycling technology lies in its ability to operate at room temperature and standard pressure, without the need for pre-washing, sorting, melting, or separating other plastics or materials. This sets it apart from most other available solutions. The innovation can handle streams of PET and polyester that are typically rejected by the recycling system, such as mixed plastics, multi-colored plastics, or contaminated materials.

"In the CIECH Group, we are seeking solutions that support the idea of sustainable industry. The technology developed by DePoly could be a breakthrough in solving the global issue of plastic waste management while reducing our dependence on fossil resources. For many years, plastic recycling has not received sufficient attention, and we are all paying the price-not only individuals and the environment but also economies and businesses worldwide. As part of a modern chemical group, we believe that solutions based on chemical recycling technologies will be one of the pillars of the circular economy industry in the future. We believe in chemistry and its potential to make the world a better place," says Szymon Smyk, CEO of CIECH Ventures and Director of Corporate Development and New Ventures in the CIECH Group.

"Plastic materials are everywhere around us and present an existential dilemma we all face. The plastics market shows no signs of slowing down, as it is currently growing at a rate of 5% per year and is estimated to be worth over $500 billion. We believe that to effectively address this problem, we need a simple, scalable solution that can handle challenging plastic waste streams. By recycling plastics that would otherwise be sent to incinerators or landfills, DePoly aims to eliminate plastic waste and create a sustainable source of chemicals by diverting these waste materials from our environment while reducing the carbon footprint by up to 65%. The obtained components match their fossil-based counterparts, which means that customers no longer have to choose between PET quality and sustainable development," says Samantha Anderson, CEO and Co-founder of DePoly.

CIECH Ventures is part of the CIECH Group, a modern chemical holding company and one of the industry leaders in Central and Eastern Europe. It serves as an innovative platform for initiating collaboration between the CIECH Group and start-ups developing technologies in the fields of chemistry, sustainable industry, and agriculture. This collaboration takes the form of partnerships, pilot projects, or direct investments. CIECH Ventures is particularly interested in solutions that can strengthen existing businesses within the Group and technologies that can contribute to the launch of entirely new business ventures. For more information, please visit www.ciech.ventures.

DePoly SA is a company based in Switzerland, founded in 2020 by three co-founders - Samantha Anderson (CEO), Bardiyeh Valizadeh (CTO), and Christopher Ireland (CSO) - with the aim of developing an innovative solution to address global plastics issues. The company's chemical recycling technology converts post-consumer and post-industrial plastic waste streams into their constituent components uniquely handling dirty and mixed plastics, fabrics and fibers, while recovering other materials. DePoly has created a sustainable source of chemicals that were previously produced from fossil sources, contributing to a circular economy for plastics. For more information, please visit their website at www.depoly.co and their LinkedIn, Twitter, Facebook, and Instagram channels.

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CIECH is an international developing chemical group with a strong position on global markets. It is the second largest manufacturer of sodium carbonate and sodium bicarbonate in the European Union, the largest manufacturer of evaporated salt in Poland, the largest supplier of sodium silicates in Europe, the largest Polish manufacturer of plant protection products, and a leading producer of polyurethane foams in Poland. Its factories are located in Poland, Germany and Romania, and it employs over 3,000 people throughout the EU.

Since 2005, CIECH S.A. has been listed on the Warsaw Stock Exchange, and since 2016, simultaneously, on one of the largest stock exchanges in Europe - Börse Frankfurt. The development of the Group is supported by its strategic investor - Kulczyk Investments.

As one of the largest Polish exporters, CIECH ships its goods to almost each continent. They are used to manufacture products necessary in the everyday life of millions of people around the world. That is why the Group is a crucial element of numerous sectors of the economy - construction, automotive, agriculture, chemical, food and pharmaceutical industries.

CIECH combines a modern business approach and care for sustainable development. Since 2020, it has been a member of the United Nations Global Compact - the world's largest initiative that brings together socially, environmentally and economically responsible businesses.

Since 2021, CIECH has been consistently implementing its ESG Strategy, which includes eight commitments in the field of climate policy, social relations and corporate governance.

More information about the CIECH Group can be found at www.ciechgroup.com.