TSP Ventures are pleased and excited to lead the latest funding round into Descycle alongside other institutional investors Deep Future Labs, Kero, CPI and strategic Angels from the mining sector.
Descycle is developing a new and disruptive class of chemistry known as Deep Eutectic Solvents (DES) which have unique properties that enable the recovery of valuable metals at a low cost and with low carbon emissions. Due to the millions of possible combinations of DES, they have the potential to disrupt and solve some of the world’s most critical issues in the 21st century including low-emission recycling of e-waste and unlocking new supplies of critical minerals. The e-waste market alone is forecasted to be worth $144bn by 2028, nearly 3x what it was in 2020.
Chris Smith, CEO of TSP Ventures, said “We are delighted to be joining the Descycle team on their onward journey as they prove and scale their transformative technology. By enabling low cost, low carbon recovery of key metals from e-waste, Descycle are solving two major environmental problems; first, the displacement of the incumbent dirty, energy intensive processes and second, ensuring we have access to the critical metals we will need to deliver the green transition. Both are crucial. Descycle has a great management team and we look forward to helping them in any way we can as they grow the business.”
Leonidas Howden, CEO of Descycle said “We are delighted to welcome on board TSP Ventures as Lead Investor and are excited for the growth ahead. We have built a strong relationship together and they have demonstrated clear alignment with our strategy and goals. We see TSP as a partner who will also be able to support us in future funding rounds.”
For more information about Descycle, visit: https://www.descycle.com/