Last Updated: 23/10/2024By Categories: Press release

Milan, 23rd October 2024 i-Foria Italia, innovative startup capable of completely recycling absorbent hygiene products (AHP) waste, has closed a €1.7 million seed investment round. The deal is led by Tech4Planet – the National Technology Transfer Hub dedicated to Environmental Sustainability promoted by CDP Venture Capital and MITO Tech Ventures – Art. 9 SFDR venture capital fund set up by MITO Technology.

i-Foria Italia has developed and patented a revolutionary technology that makes it possible to recycle up to 100% of the waste from absorbent hygiene products (AHP), such as nappies and similar products, transforming it into secondary raw materials (absorbent material and plastic) to be used in new production cycles, contributing significantly to the creation of a truly circular economy. The process complies with the strictest safety criteria, but also offers a concrete solution for reducing the huge amount of AHP waste, which currently represents a serious environmental problem for all countries around the world.

Every year, the world produces 30 million tonnes of AHP waste – enough to fill a line of trucks stretching all the way from Lisbon to Tokyo. In Europe, the amount is 8.5 million tonnes and in Italy 900,000 tonnes – enough to fill three landfills every year.

With the expansion of the separate collection of AHP, which already serves 18 million Italian citizens, a dedicated PNRR intervention line (M2C1.1 I1.1 Line C) and the adoption of the first EoW (End of Waste) decree for AHP waste, Italy is at the forefront of the sustainable management of this waste. i-Foria Italia presents itself as the key technological solution to face this environmental emergency, providing an effective and sustainable response.

The investment round, closed by Tech4Planet and MITO Tech Ventures, will be used for the validation of the technology and the industrial implementation of the first plants in Italy.

“We believe in the innovative potential of i-Foria Italia’s patents”  says Claudia Pingue, Senior Partner and Head of CDP Venture Capital’s Technology Transfer Fund. ” We are convinced that this type of solution is important for developing a circular economy, even for waste which is not currently recycled. Tech4Planet’s mission is to support innovative realities that can transform traditional industries with a strong element of environmental sustainability, and i-Foria Italia is an example of how research and technological development can generate concrete value for the market and society.”

 “Solving the environmental and economic problem of absorbent personal care product waste has always been our goal. The decision by institutional investors of this magnitude to support this vision is a source of pride for us and the realisation of a dream. It shows that the country has the tools, the skills and the will to take on and win the challenge of the environmental transition through innovative solutions. The support of Tech4Planet and MITO Tech Ventures is fundamental to give a strong boost to i-Foria Italia’s growth in Italy and in international markets. We will continue to invest in research and strengthen our industrial and business development activities”  said Marcello Somma, founder and CEO of i-Foria Italia.

 “As the first investment of our new fund MITO Tech Ventures, the technology and the team of i-Foria Italia reassure us that we’re on the right track in terms of the objectives of making a positive contribution to the circular economy and the recovery of raw materials, ensuring multiples for the investment and at the same time pursuing environmental interest objectives, as required by the nature of the fund under article 9 of the SFDR regulations”  said Francesco De Michelis, CEO of MITO Technology.

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