Polystyvert, an innovative company specializing in recycling technologies for styrenic plastics, announces the completion of an initial portion of Series B funding exceeding $16 million.

Source: Polystyvert

This substantial investment marks a significant milestone for the company as it progresses towards establishing its inaugural commercial facility in Québec, focusing on recycling heavily contaminated polystyrene waste. Backed by investors from Europe and North America, Polystyvert aims to strengthen its position as a frontrunner in styrenic plastics circularity, leveraging its proprietary dissolution and purification technology. Additional investors will participate in the second phase of funding to potentially raise up to $30 million in the Series B round.

Amidst increasingly stringent global environmental regulations and a rising demand for sustainable plastic recycling solutions, this Series B financing comes at a pivotal juncture for Polystyvert. It sets the stage for the large-scale commercial deployment of its proven technology, previously successful at pilot and demonstration scales.

This announcement, in the current economical context, reflects the unwavering support of our investors in our team and our proven technology, which is not only economically viable but also represents the shortest recycling loop for this type of waste, greatly reducing its environmental footprint. All the conditions for success are thus met to move forward with the next steps towards our first commercial plant in Montréal. This is a key step in the promotion of our technology, which will allow us to achieve our ambitious goals in order to break into strategic global markets and position ourselves as a key player in the circularity of styrenic plastics in collaboration with the industrial leaders of this value chain .

Ms. Nathalie Morin, President and CEO of Polystyvert

Remaining committed to its roots as a technological pioneer, a portion of this funding will be allocated to expanding Polystyvert’s intellectual property portfolio, which already comprises more than forty patents with worldwide reach.

Polystyvert expresses gratitude to the investors in the Series B round for their support as the company embarks on a new chapter in the circularity of highly contaminated styrenic plastics. Infinity Recycling spearheaded the round, with follow-up contributions from SWEN Blue Ocean and Earth Foundry, an existing stakeholder.

Polystyvert has developed a unique technology to recycle styrenic polymers. It combines the best of mechanical and chemical recycling with low costs, small-scale units, ability to treat contaminated feedstock and virgin-quality end products. This technology will create new markets for styrenic polymer wastes and help divert them from nature and landfill.

Olivier Raybaud, Managing Director at SWEN Blue Ocean

By establishing itself as a pivotal player in the circular economy of styrenic plastics, Polystyvert collaborates with global industry leaders striving to achieve zero plastic waste objectives in alignment with UN agreements and governmental environmental policies. Moreover, the technology directly tackles the challenges of purifying plastic waste by eliminating all contaminants from plastic compounds, enabling the safe use of recycled content in various applications similar to virgin resin.

After the initial funding phase, the Series B round will continue with a second phase anticipated to conclude within the next three months, with a combined total from both phases of up to $30 million. The inaugural commercial recycling plant of Polystyvert, set to be located in Montreal, Canada, is slated to commence operations in 2026.