Polystyvert, a Montréal, Canada-based company specializing in recycling technologies and the circular economy of styrenic plastics (polystyrene and ABS), raised $16M in funding.
The round was led by Infinity Recycling with participation from SWEN Blue Ocean, and Earth Foundry, an existing shareholder.
The company intends to use the funds to consolidate its position as a player in the field of styrenic plastics circularity, thanks to its patented dissolution and purification technology.
Led by Nathalie Morin, President and CEO, Polystyvert is a clean technology company that empowers plastic recycling by implementing a circular economy. Through its process of dissolution-based recycling and low-temperature, low-pressure purification, it can recycle and purify plastic waste that is typically considered non-recyclable due to high contamination. The result is a recycled raw material of purity that can replace virgin plastics while reducing greenhouse gas emissions (GHGs) in an economical manner, meeting the needs of various sectors.
The company provides a recycling loop for both polystyrene and ABS, serving industries such as packaging, construction, electronics, automotive, and toys. The technology is protected by over 40 patents across 17 countries.
FinSMEs
08/07/2024