DeepTech Recycling MD and CTO Marvine Besong talked with Proactive about the company's breakthrough plastic recycling technology and how it supports a circular economy.
Besong explained that traditional recycling methods, such as mechanical recycling, often degrade the quality of plastics and can only process a narrow range of materials. In contrast, DeepTech Recycling uses a process that converts plastics back into oil. “This process can be repeated over and over again without the loss of quality,” he said.
This approach allows for the creation of new, high-quality plastics from waste, significantly expanding the types of plastics that can be recycled and reused. The company is currently focusing on commercial applications in the plastic packaging sector, which accounts for around 40–45% of global plastic waste.
EMV Capital (AIM:EMVC) CEO Dr Ilian Iliev talked with Proactive about the venture investment rationale. Iliev said the company’s venture build strategy is centred on supporting IP-rich, disruptive technologies with scalable potential. He added that DeepTech Recycling’s capital-light structure, which separates project funding from core IP and licensing, offers potential for substantial non-dilutive returns to investors.
Besong noted that the company is nearing final investment decisions on several commercial initiatives. The next 12 to 18 months are expected to include financial close and the launch of revenue-generating projects.
Proactive: I'm joined by EMV Capital CEO Dr Ilian Iliev and DeepTech Recycling MD and Chief Technology Officer Marvine Besong. Marvine, Ilian — very good to speak with you.
Ilian, I'll start with you. EMV Capital invests in technologies addressing large-scale global challenges. What made DeepTech Recycling stand out as a company that aligns with your venture build strategy?
Dr Ilian Iliev: Thank you very much. EMV’s venture build strategy focuses on companies with strong IP, often disruptive technologies, and the opportunity for us to invest at a good valuation point. We then help them grow through hands-on support, including funding.
With DeepTech Recycling, we’ve long been aware of the plastic waste issue, but as Marvine will explain, only a small portion of this problem is currently addressed by existing technologies. His company proposes a solution to significantly expand what's possible.
We've worked with Marvine’s team in a capital-efficient manner, enabling the company to grow while internationalising early.
Proactive: Marvine, can you explain in simple terms how your technology works and how it supports a circular plastics economy?
Marvine Besong: Thank you, Stephen. The U.N. Environment Programme's 2025 assessment says over 2,000 truckloads of plastic are dumped into the ocean every day. It's a massive problem.
Plastic starts life as oil and gas, which is processed into the material we use. Our technology reverses that — converting plastic back into oil. This oil can then re-enter the petrochemical industry to make new plastics and chemicals.
This turns the plastic lifecycle from a linear model — make, use, dispose — into a circular one.
Proactive: What sets your platform apart from traditional recycling methods?
Marvine Besong: Current recycling is mainly mechanical. Plastic is washed, dried, melted, and extruded into pellets. But it's hard to separate plastic types and wash them cleanly, so the resulting material degrades in quality. That’s why we hear of downcycling — for example, a ketchup bottle becoming a park bench.
Our approach converts plastic back into oil, allowing it to become new plastic again without quality loss. Also, it handles a much broader spectrum of plastic types than mechanical methods.
Proactive: Where do you see the strongest commercial applications for your technology?
Marvine Besong: The largest stream of plastic waste is single-use packaging, so that’s our current focus. It’s a segmented market with various polymer types that our technology handles well. We’re also exploring sectors like medical waste and automotive, but packaging remains the priority.
Proactive: You’ve received multiple recognitions this year. What key milestones are coming up in the next 12 to 18 months?
Marvine Besong: We’re focused on commercial deployment. The goal is to reduce technical risk and demonstrate feasibility.
We’ve spent the last 20 to 24 months building robust commercial projects and are close to final investment decisions. The next stage is reaching financial close on one or more initiatives, which will launch projects and start generating revenue.
Proactive: Ilian, what do you see as indicators that DeepTech Recycling can scale and deliver returns?
Dr Ilian Iliev: The technology is strong and validated — for example, through a project in Scandinavia and public funding support.
What’s key is our capital-light model. DeepTech Recycling retains the IP and licenses, while the more capital-intensive elements are handled by separate entities in partnership with end users. That keeps core funding requirements modest.
It’s a huge market — potentially several thousand plants globally — and this structure means shareholder value isn't diluted by project funding. That’s important from an investment return perspective.
Proactive: Ilian, Marvine, thank you very much for your time today.