Empowering Circular Economy through Chemovator’s support and BASF collaboration
VentureCapital Magazine | June 2023 | Germany
Resycure is tackling the recycling problem and is being supported by Chemovator, the business incubator of BASF. Our founders, Michel Weinketz and Joerg Von Walcke had the opportunity to share their insights in an exclusive interview with VentureCapital Magazin. Learn how Resycure is playing a pivotal role in closing the loop in plastics recycling.
VC Magazin: What contribution does Resycure make to the circular economy?
Von Walcke: The recycling market is broken, and the transition is too slow. Consumer goods companies have set targets for the use of recycled materials but struggle with an opaque, highly complex, and often locally focused market. To increase the proportion of recycled plastics, we collaborate closely with brand owners and packaging manufacturers worldwide, consolidating their demand for similar plastic packaging. Recycling companies also benefit from the consolidated volume. For example, if a company has a demand of 500 tons per year for shampoo bottles in Europe, our model consolidates this volume to 8,000 to 10,000 tons per year and uses collective purchasing power to ensure that they not only have better commercial conditions with recycling companies but also have priority in delivery and reduced risk in long-term contracts in a tight market. At the same time, recycling companies benefit from the consolidated volume by scaling their business models and investing in improved quality.
VC Magazin: How does the collaboration with Chemovator unfold?
Weinketz: Chemovator offers some unique advantages. Apart from financial support, we are provided with experienced mentors from the startup scene. They act as both supervisory board members and advisors, sharing their own practical experiences with us. Moreover, being associated with BASF is a significant advantage, as it opens doors to many large customers and organizations that are otherwise challenging for a startup in its early stages to reach.
VC Magazin: From your perspective, how could external startups benefit from Chemovator?
Von Walcke: We would recommend Chemovator to startups that can truly leverage the “unfair advantage” of connecting with BASF. This could be either because their business model complements solutions in the chemical industry or because BASF’s global B2B environment, as the world’s largest chemical company, can help startups open doors, gain customers, and quickly validate assumptions.
The article has been translated from German to English by Resycure.
Source: VC Magazin
Full access to the content (only in German): https://t.co/cfNqBiriB9
At Resycure, our mission as an Impact Startup is to assist Brand Owners, Manufacturers, and Converters in the home care, cosmetics, personal care, and food industries. We strive to understand their specific requirements for rPP, rHDPE, and rPET. By strategically bundling similar grades and product applications, we achieve economies of scale, enabling us to deliver larger volumes to our carefully chosen recycling partners. In our commitment to building strong and lasting partnerships, we prioritize supply agreements that span two years or more. This approach provides Recyclers with the security they need to effectively manage their inventory, feedstock, and investments.
