PLACYCLE Secures Seed Funding for Catalyst-Based Plastic Depolymerization


Deep-tech startup PLACYCLE, specializing in plastic depolymerization, has secured seed funding from Bluepoint Partners and Gradiant upon its establishment. The investment amount remains undisclosed.

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PLACYCLE uses catalyst-based depolymerization technology to process plastic waste and produce recycled raw materials. Depolymerization involves chemically breaking down waste plastics, filtering out harmful substances, and then recombining them to create new plastic products. This investment recognizes PLACYCLE’s high growth potential in the competitive chemical recycling market.

PLACYCLE has developed a proprietary technology that eliminates the neutralization process in traditional depolymerization, allowing for direct washing and extraction using its unique catalysts.

PLACYCLE’s depolymerization technology not only manufactures recycled materials in an eco-friendly manner but also improves cost competitiveness and enhances the purity and quality of recycled materials. The company is currently focusing on PET and PC plastics and is working with large corporations and public institutions to develop customer-centric recycled raw materials.

The founding team of PLACYCLE, including co-CEOs Changbeom Cho and Hongje Jang, consists of experts with Ph.D. degrees in chemistry-related fields. They have made significant strides in developing innovative and proprietary technology, securing patents, and having their research accepted in academic journals. The company plans to advance through pilot testing and mass production validation in collaboration with potential customers.

PLACYCLE has also been selected for the Ministry of SMEs and Startups’ “2024 Super Gap Startup Development Project” (DIPS 1000+). Over three years, the company will receive up to 600 million KRW in commercialization funds, along with support for technology development, policy funding, and technology guarantees.

Changbeom Cho, CEO of PLACYCLE, stated, “PLACYCLE aims to lead the circular economy for future generations while creating economic value, positioning itself as a sustainable company driven by technology.”

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