Founded in 2011, Polystyvert, a Montreal-based innovative company specializing in recycling technologies and the circular economy of styrenic plastics (polystyrene and ABS), has developed a unique chemical recycling process that transforms this #6 plastic – trays, yogurt containers, and packaging – into purified granules that can be endlessly remolded. This innovative process, using cymene essential oil, reduces greenhouse gas emissions by up to 90 per cent compared to traditional methods.
Last July, Polystyvert announced the closing of a first tranche of a Series B funding for over $16 million. This investment represented 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 intends to 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 with $30M.