Polystyvert, a pioneering company in recycling technologies and circular economy for styrenic plastics, has secured over $16 million in the first tranche of a Series B funding round. This investment is aimed at building its first commercial facility in Montréal, Québec, specialized in recycling heavily contaminated polystyrene waste. The funding, sourced from European and North American investors, aims to enhance Polystyvert’s standing as a leader in the circular economy of styrenic plastics through its patented dissolution and purification technology. Key investors in this round include Infinity Recycling, SWEN Blue Ocean, and Earth Foundry. Polystyvert intends to use a portion of this funding to diversify its intellectual property portfolio, which currently comprises over forty globally covered patents. The second tranche of the Series B funding is expected to raise the total to $30 million, anticipated to close within the next three months. The first commercial recycling plant is projected to begin operations by 2026. Industry leaders have hailed Polystyvert’s unique technology, which combines mechanical and chemical recycling, as essential for addressing the plastic waste crisis and promoting a sustainable, circular market.

Recycling, Clean Technology, Private Equity,Canada, North America, Europe

https://contentapi.cision.com/api/v1.0/releases/20240708GE55299