Chalmers Ventures does follow-on investment in deep tech company Glenntex – Recycling plastic with graphene
2024-09-11
Glenntex is a university spin-out based on research from Chalmers University of Technology by PhD Govin Induchoodan. The company has been part of the Chalmers Ventures portfolio since 2021, which is now reinvesting. The funds will be used to focus on business development.
– Glenntex tackles the global issue of poor-quality plastic recycling through deep tech, says Sofia Kocher, Seed Investment Manager at Chalmers Ventures. By adding graphene to the recycling process, recycled plastic regains its value, creating a potential new market. Glenntex’s solution results in stronger plastic, allowing for the use of less material. Through Glenntex’s additive, more recycled plastic can be used in applications where it was previously not possible. It is a climate-smart solution with good business potential. Now, the company needs to develop in the market, and we look forward to following Glenntex’s journey.
Sustainability through recycling, business, and graphene
Since the 1950s, the world has become dependent on the plastics industry, resulting in a plastic crisis. Glenntex helps the plastics industry transition from a linear to a circular economy.
Plastic can be recycled, but it becomes weaker during the process. Therefore, recycled plastic is rarely used in high-performance applications because it is too weak compared to new plastic. This is one of the reasons why only 33% of plastic is recycled in Europe. Glenntex’s solution produces stronger plastic, allowing for less material usage in the same product. Through Glenntex’s additive, more recycled plastic can be used in applications where it was previously not possible.
The solution: graphene
Graphene is a 2D material once dubbed a ”super material,” discovered in 2004. It is stronger than steel yet lighter than any other material.
Glenntex develops a graphene additive for the plastics industry, which is mixed with recycled plastic.
The additive imparts graphene’s advantages to the plastic while reducing CO2 emissions by 60%. More recycling, reduced emissions, and higher quality material.
– Circularity in materials is crucial for our planet, says Govin Induchoodan, PhD and CEO of Glenntex. One particularly challenging material is plastic, as its properties significantly deteriorate after recycling. Our graphene blend restores strength and quality, putting recycled plastic back on the market.
Multiple interesting markets
There are several potential markets, including food packaging. The solution can also be used in industry to significantly reinforce hoses and containers where high material quality is required.
Contact
Govin Induchoodan, PhD och VD på Glenntex
govin@glenntex.com
Sofia Kocher, Seed Investment Manager, Chalmers Ventures
sofia.kocher@chalmersventures.com