Closed Loop to invest up to $3 mln in GreenMantra Technologies

Brantford, Ontario clean technology company GreenMantra Technologies has secured up to $3 million in financing from Closed Loop Fund, a social impact fund managed by U.S.-based Closed Loop Partners. The proceeds will be used to expand the capacity of its manufacturing operations, which convert post-consumer and industrial waste plastics into high-value polyethylene and polypropylene waxes. The waxes are used in a range of industrial applications. GreenMantra's other investors include ArcTern Ventures and Cycle Capital Management, which backed a $5.5 million round last year. The company is led by President and CEO Kousay Said.

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