Halocycle, a Hull-based technology scaleup which carries out advanced recycling of PVC and other chlorine containing plastics, was named KPMG’s UK Tech Innovator 2024.
It is on a mission to use innovative technology to provide a solution to the plastics problem and have a dedicated team who have spent a combined 40 years searching for answers to environmental and industrial issues.
The technology uses innovative processing as a means of recycling plastic, particularly chlorine containing plastic (PVC). The business wants to create a circular lifecycle for plastic – leading to a dramatic reduction in plastic waste entering landfill, incineration, or otherwise leaking into the environment.
After an amazing showing representing the UK at the Global Tech Innovator, I sat down with Dr Henrietta Boyd, CEO and co-founder of Halocycle, to talk about the competition and the impact it has had on her growing business.
What did it mean to win the KPMG Private Enterprise Tech Innovator in the UK crown?
We were delighted to win! It was great recognition and a real boost for the team who have worked so hard on the project. As a result of the competition, we are connected with all the other businesses who were UK finalists, and we have built up a really supportive network within KPMG. The win has also given us a lot of broader exposure, which we would not have got otherwise. As an example, we had inbound interest from a company in Germany this week who are looking to recycle thousands of tonnes of PVC – I don’t think they would have found us so quickly without the KPMG Tech Innovator exposure.
How did you find the competition and why you would encourage others to enter next year?
Well the competition found us, which was nice. We were identified as a promising tech innovator by the competition scouts and they encouraged us to take part. Taking part was great fun! I would certainly encourage others to take part as it makes you hone your pitch; gives you the experience of pitching in front of judges; and gives you the opportunity to get constructive feedback from objective observers.
Have you got any tips for other businesses looking to enter?
It’s a three-minute pitch, and it’s very difficult to get your passion and the story of your business and the technology across in just three minutes, so you need to distil it down to the essence. Make sure that you can do your pitch in the three minutes when you’re at home, then you won’t be stressing about the timing, and you can concentrate on your delivery.
What was your experience of the Global Tech Innovator final? Did you find it valuable for your business?
The competition was very professionally run, and a fabulous experience. It gave us the experience of pitching in front of an eminent panel of judges and being filmed too. A real media experience. It could have been intimidating, but it wasn’t because we were looked after beautifully all the way through. I sent my teenage daughter a photo entitled ‘My makeup artist’, as we had our makeup done professionally before going on camera for the global final, and obviously her response was ‘Wait, Wait, WHAAAAT?’. From a personal point of view, it was a new and valuable experience to be on a global stage, and from a business perspective it has certainly generated valuable interest.
As a business with sustainability at its core, how has the ESG agenda helped with your growth story? Why is ESG important?
I have been interested in the environment as long I have been conscious of environmental issues – in other words, since I was at school, which is obviously a long time ago now! I have worked in various environmental enterprises, and for a long time it was like pushing water up hill. At last, sustainability has made it up the agenda to board level, which is progress indeed. We founded Halocycle to solve the plastic waste problem, so circularity and sustainability is at our core. I suppose I haven’t thought too much about the general ESG agenda, because ESG has always so firmly been top of my agenda, but it can only help companies like ours.
What advice would you give anyone looking to start a business that has environmental or social impact at its core?
I would say that becoming a B Corp is a great place to start. If you set your business up as a B Corp, you can use all their guidelines right from the beginning. It makes you think about things that wouldn’t necessarily have been on your radar, but should have been! There is also a growing B Corp community, which can be helpful.
What do the next one to five years look like for Halocycle?
We are going to raise some money now to grow the team, and to fund the build of our first commercial scale plant, which is going onto a chemical company site in the north of England. We will start the build in 2025 which is exciting. There is plenty of demand for PVC recycling, so while we get the first commercial plant going we will also be deciding where plants two, three, four and beyond will be sited. Originally they were planned for the UK, but we need to consider Europe too, as the legislative environment in Europe would be very supportive of us.
If you were starting your business afresh today what one piece of advice would you give yourself?
Even though you are busy, don’t stop seeing your friends – they can give you perspective.
Could this be you in 2025? Showcase your leadership, innovation and trailblazing ideas by pre-registering for the 2025 Tech Innovator in the UK competition.
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