Recycap Technologies Launches REACT Devices to Address the Global Challenge of Only 10% Coffee Capsules Being Recycled
VALENCIA, Spain, Sept. 28, 2023 /PRNewswire-PRWeb/ -- Recycap® Technologies S.L. has secured an additional €155,000 in funding, spearheaded by ENISA and Veos Ventures S.L. This investment aims to expedite the commercial production of their first two REACT™ coffee capsule devices (REACT-H and REACT-S).
The popularity of coffee pods, particularly in Western Europe and North America, has surged, especially for those desiring premium coffee brewed in the comfort of their homes. The figures highlight this trend, showing a growth from $9.92 billion in 2021 to $12.33 billion in 2022. Astonishingly, around 39,000 capsules are manufactured globally every minute. In Spain, daily consumption exceeds 5 million capsules. Yet, a meager 10% undergo recycling, translating to nearly 100 tons of non-recycled coffee-filled capsules dumped in landfills daily.
Recycap® Technologies presents a solution. Their innovative Recycap Automated Coffee Technology (REACT™) system empowers consumers to conveniently recycle aluminum and plastic coffee capsules, either at home or the workplace. Once emptied using REACT™, the capsules can be discarded in standard recycling receptacles.
REACT™, a patented technology, streamlines the removal of coffee grounds from capsules, simplifying the recycling of aluminum and plastic capsules. The technology utilizes a mechanical procedure that effortlessly cleans capsules, rendering them empty and ready for recycling. This positions Recycap® devices as groundbreaking, fully automated solutions for both household and commercial coffee capsule recycling.
Reflecting on this, Bassam Damaj, Ph.D., co-founder and managing partner of Veos Ventures remarked, "Our continued investment in Recycap testifies to the impressive strides the company has made in recent months. We're optimistic about their trajectory towards reaching the market this year and addressing this crucial environmental concern."
Recycling capsules without leaving your home or office
The funding will be used to initiate the manufacture of commercial-sized Recycap® recycling devices, begin commercial operations and create other industry partnerships, as well as to develop the first home coffee machine with fully integrated REACT™ technology. Recycap® Technologies is also currently working with leading coffee retailers and brands to create point-of-sale aluminum coffee capsule recycling programs.
"The REACT™ platform allows both businesses and consumers to recycle their coffee capsules in the comfort of their homes and offices and dispose of clean coffee capsules in regular recycling bins, reducing their environmental impact and allowing for the recycling and reuse of discarded aluminum," explained the founders of Recycap® Technologies. "We are passionate about making a difference and take our environmental responsibility very seriously. We are constantly striving for new ways to reduce our impact on the planet by bringing new technologies and patented aluminum and coffee grounds recycling solutions to the market," they concluded.
About Recycap® Technologies, S.L.
The mission of Recycap Technologies, SL is to empower consumers through knowledge, tools, and new technologies to make sustainable choices that help protect our planet by providing them with new recycling options and tools for aluminum and plastic coffee capsules. Its goal is to become the world leader in sustainable aluminum, plastic and coffee grounds recycling through innovation and patented recycling technologies. More information at www.recycap.com.
About Veos Ventures®, S.L.
Based in Madrid, Veos Ventures®, S.L. is an incubation and acceleration company that invests in pre-seed and early-stage ideas, the most difficult stages for a startup, and matures them for early licensing or sale. It aims to help its portfolio companies mature their ideas and products sufficiently to merit licensing and/or sale to a larger player in a short period of time. The founding partners' extensive experience in public and private fundraising, research development, licensing, and mergers and acquisitions enables Veos Ventures® to make decisions more quickly and gestate its investments at a faster pace than most companies. For more information, please visit www.veosventures.com.
ENISA stands for "National Innovation Company, S.A." in Spain. It is a public business entity operating under the supervision of the Ministry of Industry, Commerce, and Tourism of Spain. ENISA's main mission is to promote the financing of business projects, especially those related to innovation, entrepreneurship, and the growth of small and medium-sized enterprises (SMEs) in the country. ENISA offers various financial instruments to support SMEs, including participatory loans and other types of financing, with the aim of helping these companies develop their projects, invest in innovation and technology, and create employment.
In addition to providing financing, ENISA also offers advisory and guidance services to SMEs to help them improve their business plans and increase their chances of success in the market.
For Investor and public relations:
+34 666 99 03 26
SOURCE Recycap Technologies, SL