Company: Itero Technologies
Founder: Simon Hansford
Business: Itero Technologies is a chemical recycling technology company.
About Simon and Itero Technologies
Itero Technologies converts non-recyclable plastic waste into chemical products used to produce brand new plastics. Their process keeps plastic in the circular economy, diverts end-of-life plastics from landfill and incineration, and reduces reliance and consumption of crude oil.
Plastics are a fundamental part of modern life, and even with consumer and legislative demands for their reduction, they remain a prevalent problem. The current recycling process cannot meet the demand and diversity of mixed plastic waste.
Production of plastics is projected to triple by 2060 but existing recycling methods are limited in the types of plastics they can process and the quality of recycled products. Chemical recycling has fewer limitations – in the range of plastic waste processed and in the quality of the recycled products. This is why new technologies like Itero’s must scale up sustainably.
The team at Itero aim to end plastic pollution. Prior to Itero, Simon led the Corporate Finance & Legacy operations at a global insurance company, and he brings 19 years’ corporate strategy and finance experience to the team.
Since 2018, Itero have developed our patented chemical recycling technology that breaks down mixed plastic waste into chemical building blocks.
They are currently developing their first at-scale demonstration plant at the Brightlands Chemelot Campus in the Netherlands. This plant will process 27,000 tonnes of residual plastic waste annually, equivalent to the total amount of plastic packaging waste generated by the population of Amsterdam municipality per year.
Itero are also operating their technology at their R&D Facility located near Heathrow, UK, where they are working with plastics recyclers, plastic producers, and the chemical industry on delivering sustainable recycling solutions.
Recently, Itero successfully raised €6m in investments, with €5m from Infinity Recycling’s Circular Plastics Fund (CPF), to support the design and construction of their demonstration plant. This investment is enabling Itero to further progress delivery of their plant in the Netherlands, increase their R&D activities in the UK, and ready themselves for their next funding round.
Itero’s technology features include the ability to process a wide range of waste plastic feedstock, including various contaminants, owing to their technology heritage and market-leading scale, with large off-take volumes aligned with industry requirements. Plastics is an urgent problem, and Itero is doing everything they can to be part of the solution.
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