How plastics remanufacturing is the industry everyone will wish they were in

Photo courtesy of Nick Spina

Opinions expressed by Digital Journal contributors are their own.

Of the seven billion tonnes of plastic waste generated globally, less than 10 percent of it has been recycled presenting a significant opportunity for businesses to take advantage of. One company leading the charge in this space is Denovia Labs.

Co-founded in 2022 by serial entrepreneur Nick Spina and Istok Nahtigal, Denovia Labs is dedicated to transforming the landscape of plastics remanufacturing. Its London, CA facility is home to the first-of-a-kind plastics remanufacturing machine that has the ability to make plastics infinitely recyclable. 

The company announced this breakthrough technology in April, and has since garnered significant attention and investment from major industry players, including New York’s Jett Capital. A mover and shaker in the realm of natural resources and energy, Spina refers to Jett Capital as a “very aggressive group” in the space.

“We spent a lot of time with them in New York and we are very excited to see where our relationship goes,” he says. Following a $40 million financing round with Jett Capital, Spina shares that Denovia Labs has partnered with several other potential investors, highlighting the grave potential of the plastics remanufacturing industry. 

Jett Capital has projected Denovia’s technology to be worth $4 billion in the next 12 months, and the proof is in the pudding. The company has already signed contracts with multiple multi-million dollar entities like Goodwill, Tymec and hospitals across the country, to transform their plastic waste into reusable PET pellets. With profit margins of up to 65%, Spina shares his excitement, “It’s fantastic,” he says. “The team at Denovia is very excited to see where this goes.”

By providing a solution to the plastic waste crisis, the potential of Denovia’s technology extends beyond immediate financial gains. Their innovative solution ensures that plastics can be recycled an infinite amount of times, reducing the environmental impact of plastic production and waste around the globe.

Days away from processing the company’s first batch of plastic waste into reusable material, Spina reflects on the industry’s potential and Denovia’s role in it. “We’ve got a very clear focus on our vision — where we need to go, and what we need to do to get there. It’s just about taking the steps and putting one foot in front of the other,” he says. 

Acknowledging that tackling the global plastics problem will not be easy without the right support, Spina shares, “it’s the unknown” that worries him most. “But, having people on board with proven track records that can execute properly,” is what it’s all about.

“That’s what we’ve been able to bring on board already to date, so we’re just continuing on that path and making sure that we’ve got a really good plan in place and sticking to that,” he continues.

At this point, Spina says his plastics remanufacturing business is focusing its attention towards “execution, financing, and relationship building.” Meeting new people in the industry that can “move mountains,” is at the top of mind for a CEO committed to driving change.

When asked where he sees the industry going in the next five or so years Spina says, “the sky’s the limit.” Businesses that incorporate Denovia’s recycled PET pellets into their supply chains can achieve significant cost savings while meeting growing consumer demand for sustainable products. 

This dual benefit of cost efficiency and environmental responsibility is why the plastics remanufacturing industry is poised to become a highly desirable business sector. As Denovia Labs continues to innovate and expand, they are setting a powerful example for how businesses can successfully merge profitability with sustainability. 

Denovia’s pioneering efforts are paving the way for a new era in plastic recycling, demonstrating that it is possible to tackle one of the world’s most pressing environmental issues while creating significant economic value. 

To learn more about Denovia, visit their website today.