MacroCycle Technologies, a biotech company that recycles plastic waste into virgin-grade plastic with net-zero carbon emissions, has closed a $6.5 million seed funding round.
Its patented SolvoGenesis technology enables plastic waste to be upcycled without degrading the polymer. The process uses 80% less energy than traditional recycling methods, with the remaining 20% supplied by renewable energy sources.
In addition, it can produce virgin-grade recycled PET from waste such as bottles, food trays, and polyester textiles.
This funding will allow MacroCycle to scale up its pilot plant to meet the growing demand for high-quality upcycled PET.
Congratulations on this milestone!