Polystyvert raises $4.9 mln to expand polystyrene recycling
Polystyvert Inc, an Anjou, Québec-based polystyrene recycling company, has secured a $4.9 million round of financing. The investors included members of Anges Québec, Anges Québec Capital Fund, Cycle Capital Management, BDC Capital and Sustainable Development Technology Canada. Founded in 2011, Polystyvert has developed technology to recycle polystyrene, a.k.a. Styrofoam, and reduce is transportation costs. The company said it plans to use the funds raised to scale-up equipment and facilities to meet demand. A new Polystyvert plant is slated to open in the fall of 2016.
7 July 2016•6 mins read
