The India-based PolyCycl recently secured new funding to advance its chemical technology aimed at tackling plastic waste, according to Plastics News.
The company announced an investment from Rainmatter, a sustainability-focused initiative affiliated with the financial firm Zerodha. The companies did not disclose the funding amount, but, per Plastics News, the investment will support the "commercial development" of PolyCycl's tech.
At the center of its chemical recycling is a patented reactor that processes plastic more efficiently. The system keeps the input plastic material in constant motion, preventing uneven heating and overheating.
As the plastic breaks down through pyrolysis — or thermal decomposition — any solid leftovers are continuously removed, allowing the recycling process to run smoothly and continuously, rather than in stop-and-start batches.
After the plastic is broken down into oil, PolyCycl uses its own purification technology — called PyOilClean — to remove certain chemicals. This makes the resulting oil cleaner, safer, and more suitable for reuse in producing new plastics.
"Our focus has been on building technology that can operate reliably at industrial scale and integrate into circular petrochemical chains," Amit Tandon, PolyCycl founder and chief executive officer, said in a statement. "Rainmatter's investment strengthens our ability to move from technical maturity to wider deployment."
The high-tech plastic recycling process may be gaining traction. In 2023, PolyCycl partnered with Re Sustainability to begin developing facilities across India to supply plastic waste for chemical recycling. Before that, PolyCycl signed a similar agreement with Greenback Recycling Technologies, a United Kingdom-based company.
According to the United Nations, as of 2023, more than 430 million metric tons of plastic were produced worldwide each year. As of 2024, India was the world's largest contributor to plastic pollution, accounting for roughly 20% of global plastic waste.
PolyCycl's approach targets one of the most difficult challenges in the plastic crisis — how to deal with hard-to-recycle materials. By using chemical recycling, Plastics News reported, the company can process mixed, contaminated, or low-quality plastics that would otherwise end up in landfills, incinerators, or the environment.
By turning this waste back into usable material, PolyCycl can help keep plastics in circulation longer and reduce the need for brand-new plastics. This kind of recycling could significantly cut plastic pollution while also reducing the climate and resource impacts of producing new plastic from scratch. Better plastic management means less plastic waste, cleaner waterways, and reduced plastic burning — all of which are linked to improved public and planetary health.
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