Polystyvert
Assembly Line
Polystyvert secures $16M to revolutionize polystyrene recycling, enabling the global deployment of innovative technology for sustainable polystyrene production from plastic waste
Polystyvert, an innovative company specializing in recycling technologies and the circular economy of styrenic plastics (polystyrene and ABS), announces the closing of a first tranche of a Series B funding for over $16 million. This investment represents another step for the company towards the construction of its very first commercial plant in Québec, dedicated to recycling highly contaminated polystyrene waste. With funding from European and North American investors, Polystyvert will further solidify its position as a leader in the field of styrenic plastics circularity, thanks to its patented dissolution and purification technology. Other investors will participate in the second tranche of this financing to enable the Series B round to raise up to $30M. Polystyvert is grateful to the investors in the Series B round who are supporting the company in a new era in the circularity of highly contaminated styrenic plastics. Infinity Recycling led the round, followed by SWEN Blue Ocean, and Earth Foundry, an existing shareholder.
Remaining true to its roots as a technological innovator, part of this funding will also be dedicated to further diversify Polystyvert’s intellectual property (IP) portfolio, which already includes over forty patents with worldwide coverage.