Polystyvert has closed the first round of 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 contaminated polystyrene waste. Other investors will participate in the second round of this financing to enable the Series B round to raise up to $30M.
With an increasingly stringent environmental regulatory framework worldwide and a growing demand for sustainable solutions in plastic recycling, this Series B fundraising arrives at an ideal moment for Polystyvert. It lays the ground for the industrial-scale commercialization of its technology already proven at the pilot and demonstration unit scale.
Part of this funding will also be dedicated to further diversifying Polystyvert's intellectual property (IP) portfolio, which already includes over forty patents with worldwide coverage.
Infinity Recycling led the round, followed by SWEN Blue Ocean, and Earth Foundry, an existing shareholder.
Polystyvert collaborates with international companies that aim to achieve zero plastic waste goals, in line with UN negotiations and government environmental policies. Furthermore, the technology directly addresses the challenges of plastic waste purification through processes that remove all contaminants found in plastic compounds, allowing safe recycled content to be used in the same applications as virgin resin.
Following the closing of the first round of funding, the Series B round will remain open for a second round that is expected to close within the next three months, for a total amount of up to $30M. Polystyvert's first commercial recycling plant, to be located in Montreal, Quebec, is expected to be operational in 2026.
