Chemicals & Polymers
Founded in 2017 and based in Lüneburg (Germany), RITTEC developed a highly innovative technology for advanced recycling of mixed PET packaging and polyester textile waste. This offers a solution to one of the biggest recycling challenges in the textile industry.
Level8 GmbH, a subsidiary of Bingo Germany GmbH, focuses on the recycling of polyester textiles and textile components. The company plans to leverage the technology through the integration into their portfolio as well as their broad network in the German textile industry
Following transaction team facilitated the transaction for our client.
About the sector
The chemical industry is one of the most important sectors in Germany as an industrial location. As the third largest industrial sector with around 460 k employees and over 500 k indirect jobs, it has a decisive influence on national prosperity.
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