Recycap Technologies, an innovative Valencia-based firm that specializes in coffee capsule recycling since its establishment in 2022, proudly announced securing an additional €155,000 in funding from the esteemed National Innovation Company, S.A (ENISA) and Veos Ventures S.L. The investment will be channelled towards accelerating the production of their state-of-the-art REACT coffee capsule devices, the REACT-H and REACT-S.
Recycap Technologies has developed an innovative solution to address the environmental issue related to coffee capsules. The Recycap Automated Coffee Technology (REACT™) system is a user-friendly device enabling consumers to easily recycle plastic and aluminium coffee capsules. Once the capsules are emptied using REACT™, they can be disposed of in regular recycling bins. The patented technology of REACT™ focuses on eliminating coffee grounds from capsules, which enhances the efficiency of the recycling process for both aluminium and plastic capsules.
The consumption of coffee pods has witnessed a significant upsurge, particularly in Western Europe and North America. The market value has grown impressively from $9.92 billion in 2021 to $12.33 billion in 2022. Notably, approximately 39,000 coffee capsules are being produced globally every minute. In Spain, the daily consumption exceeds 5 million capsules, yet only 10 per cent of these capsules are recycled, meaning that nearly 100 tonnes of coffee-filled capsules are discarded in landfills each day. This is a concerning statistic that calls for urgent attention.
Bassam Damaj, the Co-founder and managing partner of Veos Ventures, implied: "Our continued investment in Recycap indicates the notable progress the company has achieved in recent times. We hold a positive outlook regarding their potential to reach the market this year and address this vital environmental issue."
Thanks to new funding, Recycap Technologies is set to make significant strides towards manufacturing large-scale recycling devices, kickstarting commercial operations, and establishing industry partnerships. The company is also paving the way in innovation, with plans to introduce the first home coffee machine equipped with integrated REACT™ technology. Furthermore, they are actively collaborating with major coffee retailers and brands to launch point-of-sale aluminium coffee capsule recycling initiatives.
The founders of Recycap Technologies elaborated their company's mission statement: "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 aluminium," they continued by saying: "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 aluminium and coffee grounds recycling solutions to the market."
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