DEScycle, a London-based deep tech startup focused on innovative metal recycling solutions from electronic waste, has raised £10.5 million in a Series A funding round.
DEScycle’s groundbreaking approach leverages Deep Eutectic Solvents (DES) to address the inefficiencies and environmental impact of traditional e-waste recycling methods. By utilising this cutting-edge chemical solution, DEScycle aims to establish a sustainable and scalable recycling process.
The company’s vision is to create local circular economies for recycled metals, reducing dependence on international supply chains. This will not only benefit the environment but also contribute to economic growth and job creation.
The newly acquired funds will be used to establish a pilot plant at Wilton International in Teesside. This facility will serve as a crucial testing ground for DEScycle’s DES technology, generating data for full-scale commercial deployment.
In collaboration with UK e-waste recycler, GAP Group, DEScycle plans to construct a larger commercial facility in Gateshead. This state-of-the-art plant will have the capacity to process 5,000 tonnes of e-waste annually, recovering valuable materials such as copper, palladium and gold.
Ian Cockerill, Chairman, DEScycle, said: “DEScycle has made significant progress over the last 18-months and the successful closing of this funding round is a strong vote of confidence for the team, the technology and our potential to revolutionise the metals industry. The business is paving the way for an environmentally responsible and profitable approach to metals recycling from e-waste. This is particularly relevant for growth areas, such as AI, which require a significant infrastructure rollout reliant on metals, all of which, due to their short lifespan, will be recyclable when DEScycle launches commercially.”
Image source: DEScycle
