Terracle, a company specializing in the chemical recycling of waste plastics, has announced its participation in an international IR (investor relations) event for companies selected for DIPS (Deep tech Incubator Project for Startup) 1000+ project. The IR event will be held in Dubai from October 14th to October 17th for local investors.
As Dubai is the location of the 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC), it is a region where ESG activities on climate change and investment in new technologies are gaining attention and Terracle sees this as a great opportunity to connect with both local and international investors.
Terracle, selected as the first eco-friendly company in the DIPS 1000+ initiative in 2023, specializes in recycling hard-to-recycle plastics, including colored, composite, and clothing waste. The company produces and sells Cr-TPA (chemically recycled terephthalic acid) and Cr-EG (chemically recycled ethylene glycol), which serve as raw materials for new plastics.
Terracle’s recycling process does not require separating plastics by color or material type and operates at temperatures below 100°C and standard atmospheric pressure. Also, an automated mass production process has been implemented to enhance efficiency and scale operations to meet the rising demand for recycled raw materials.
In addition to supplying recycled materials, Terracle offers comprehensive ESG recycling solutions to major clients, helping them achieve zero waste in the workplace, reduce waste disposal costs, cut greenhouse gas emissions in the supply chain, and establish closed-loop resource cycles.
This year, the company completed a Series A investment of KRW 10.5 billion from Envisioning Partners, DSC Investment, Hyundai Motor Group Zero One, KDB, and Schmidt. Based on the investment, the company is establishing a new factory in South Korea with a daily production capacity of 10 tons.
‘We are looking forward to participating in this event as an opportunity to promote our company to overseas investors and potential customers, and as a starting point for attracting overseas investment and expanding overseas,’ said a representative from Terracle’s overseas sales.
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