IONIQA
New start for insolvent recycling tech company seems possible / Investor still unknown
— By Plasteurope.com staff —
The insolvent Dutch recycling startup Ioniqa (Eindhoven; www.ioniqa.com) appears to be on the verge of a short-term rescue. On the company’s website, founder and shareholder Tonnis Hooghoudt announced a “new start” to “preserve” its technical and scientific expertise relating to the glycolysis of polyester waste.
However, neither Hooghoudt nor insolvency administrator Bob Sijben of the law firm Aben & Slag Advocaten (Weert, Netherlands; www.abenslag.nl) provided any details when asked by Plasteurope.com. It therefore remains unclear who the investor might be.
The insolvent Dutch recycling startup Ioniqa (Eindhoven; www.ioniqa.com) appears to be on the verge of a short-term rescue. On the company’s website, founder and shareholder Tonnis Hooghoudt announced a “new start” to “preserve” its technical and scientific expertise relating to the glycolysis of polyester waste.
However, neither Hooghoudt nor insolvency administrator Bob Sijben of the law firm Aben & Slag Advocaten (Weert, Netherlands; www.abenslag.nl) provided any details when asked by Plasteurope.com. It therefore remains unclear who the investor might be.
 Ioniqa facilities at the Chemelot chemical park in Geleen, Netherlands (Photo: Ioniqa) |
“We are aware of the difficulties in the European recyclate market”, Hooghoudt explained plainly. Nevertheless, he was certain that chemical recycling of plastics waste could be economically successful, especially considering the EU’s ambitious targets for 2030.
Related: Koch Industries to invest in Dutch clean-tech firm Ioniqa
Ioniqa filed for creditor protection at the end of October 2024. CEO Michiel Hoogendijk, who was only appointed in July, cited low prices for primary material, a still fledgling recyclate value chain, and the lack of standards as the main blockers to an industrial use of the Denua technology.
— Translated by Christopher Köbel
13.12.2024 Plasteurope.com [256824-0]
Published on 13.12.2024
German version of this article...