This word is acceptable for play in the US & UK dictionaries that are being used in the following games:

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v. To remove the color from.

v. To remove the color from.

v. To lose one’s color.

v. To deprive of color; to whiten.

To deprive of color; bleach. Also spelled decolorise, decolourize, decolourise.

v. remove color from

"Manganese dioxide is used to: manufacture ferroalloys; manufacture dry cell batteries (it's a depolarizer); to "decolorize" glass; to prepare some chemicals, like oxygen and chlorine; and to dry black paints."

decolorized    decolorizing   

discolor   

whiten