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Recycling

Plastics recycler Ioniqa files for bankruptcy

by Alexander H. Tullo
October 20, 2024 | A version of this story appeared in Volume 102, Issue 33
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Ioniqa Technologies, a spin-off from Eindhoven University of Technology, has filed for bankruptcy protection. The company developed an ionic liquid–based process to convert waste polyethylene terephthalate into bis(2-hydroxyethyl) terephthalate, a monomer that can be polymerized back into the bottle-making resin. It started up a pilot plant in the Netherlands in 2019 and in 2022 announced that it could receive an investment of more than $30 million from Koch. Ioniqa now says it will take too long to generate cash flow from its technology.

Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society

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