<div>
  <ul>
    <li>
      <p>
        Ambercycle, a California-based startup that recycles textile waste into new materials, has raised USD 21.6 million in an oversubscribed Series A funding round. The round included the participation of investors H&amp;M CO:LAB, KIRKBI, Temasek, Bestseller&rsquo;s Invest FWD, and Zalando.&nbsp;
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        The fresh funds will be allocated to scale the production of its &ldquo;Cycora&rdquo; material, a recycled textile material that is an alternative to conventional polyester. The funds will also support Ambercycle in developing circular materials for the fashion industry.&nbsp;
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.prnewswire.com/news-releases/ambercycle-raises-21-6-million-to-build-circularity-ecosystem-in-the-fashion-industry-301452915.html">
      <b>Press Release</b>
    </a>
  </p>
  <p>
    <a href="https://ww.fashionnetwork.com/news/Materials-science-company-ambercycle-raises-21-6-million,1365842.html">
      <b>Fashion Network</b>
    </a>
  </p>
</div>


Waste Recovery & Management Tech

Ambercycle raises USD 21.6 million in Series A funding

PROMINENT_CATEGORY

<div>
 
 <p>Sustainability-focused startup Grensol Group, based in Switzerland, has entered a partnership with XCharge North America, a provider of electric vehicle (EV) charging solutions. The aim of this partnership is to create eco-friendly recycling methods for used EV charging equipment.</p>
 <p>The recycling efforts will target electric vehicle supply equipment components such as charging cables and modules. Various recycling methods, including mechanical, chemical and thermal, will be utilized as part of the solution. Research collaboration with Worcester Polytechnic Institute is also part of the project, with the first batch of materials already sent for processing.</p>
 <p>The ultimate objective of this collaborative project is to provide an industry-standard recycling solution that can transform used charging equipment into essential raw materials for reuse. This responds to a recognized issue with the lifespan of charging equipment, which typically has a shortened lifespan due to high levels of wear and tear.</p>
 
</div>

Grensol partners with ​​XCharge to develop recycling solutions for EV charging equipment

ANALYST_QUICK_TAKE

INCUMBENTS_PRESENT

<div>
 
 <p>ExxonMobil is allocating USD 200 million towards the increase of its advanced plastics recycling operations in its Baytown and Beaumont facilities in Texas. The aim is to enhance the company's ability to recycle complex items including chip bags, synthetic turf, and industrial packaging.</p>
 <p>The primary goal of this expansion is to boost the processing capacity by 175,000 tons. This step will allow ExxonMobil to recycle 250,000 tons of plastic waste yearly in the US by 2026.&nbsp;</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> This expansion comes amid increasing scrutiny of plastic waste management, with ExxonMobil facing <a href="https:<br>
//www.nbcnews.com/science/environment/california-sues-exxonmobil-plastic-recycling-deception-rcna172267"> legal challenges </a> in California regarding its recycling claims.</p>

ExxonMobil plans USD 200 million expansion of recycling facilities in Texas

<div>
 
 <p>Aduro Clean Technologies, a Canadian firm that develops recycling technology using water and chemicals, announced a partnership with Zeton, also a Canadian company specializing in pilot plant design and manufacturing, for constructing a Hydrochemolytic Technology (HCT) pilot plant. </p>
 <p>As reported by the partners, the HCT pilot plant capable of 10 kg/hour will be constructed at Aduro's facility located in London, Ontario. Design completion is expected by 2024, with commissioning planned for the third quarter of 2025. The plant aims to showcase the possibility of scaling up Aduro's technology that converts waste plastics into valuable chemicals. This in turn would allow processing various feedstocks for an array of customer applications. </p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> In <a href="https:<br>
//sp-edge.com/updates/32576"> August 2024 </a> , Aduro partnered with TotalEnergies to examine a recycling technology for hard-to-recycle plastic waste, aiming to control waste and enhance the process design and operational conditions of Aduro's HCT.</p>

Aduro Clean Technologies partners with Zeton to build hydrochemolytic pilot plant

<div>

 <p>Prism Worldwide, a tire recycling technology company, recently obtained USD 40 million in Series A and A1 funding rounds. These rounds were co-led by Columbia Pacific Advisors and Jim Sinegal, who was the previous CEO of Costco. Notably, Robert Anderson, earlier CEO of Anderson Daymon Worldwide, also contributed in this funding round.</p>
 <p>Prism Worldwide plans to use this funding to streamline operations, invest in advanced technology and machinery, and accelerate team expansion. The funding has, till now, facilitated the acquisition of CRC Polymer Systems, a firm known for custom compounding.</p>

</div>

Prism Worldwide raises USD 40 million in Series A funding for expansion

<div>

<p>UK-based e-waste recycling startup, DESCycle, has announced securing GBP 10.2 million (~USD 12.94 million) in an investment round. The funding, co-led by BGF and Vorwerk Ventures, saw contributions from Nesta, Cisco Investments, Kadmos Capital, TSP Ventures, Green Angel Ventures, and CPI Enterprises.</p>
 
<p>DEScycle will utilize the investment for the development and operation of its pre-commercial pilot plant at the Wilton International site. The funds will also assist in constructing an e-waste recycling facility on Tyneside in collaboration with GAP Group. This facility is projected to process around 5,000 tons of material each year.</p>

</div> <p><b>Analyst QuickTake:<br>
</b> The latest round of funding follows the pre-Series A funding round led by TSP Ventures in <a href="https:<br>
//sp-edge.com/updates/18017"> April 2023 </a> , which raised GBP 4.85 million (~USD 6.06 million) to advance commercialization and support the delivery of a lab pilot.</p>

DEScycle raises GBP 10.2 million in funding to construct pilot plant

<div>
 
 <p>E-waste recycling startup, Molg, has garnered USD 5.5 million in seed funding from several participants including Closed Loop Partners, Amazon Climate Pledge Fund, ABB Robotics and Automation Ventures, Overture, Elemental Impact, and Techstars. In addition to this, Molg was also given a USD 5 million grant by the US Department of Energy.</p>
 <p>Molg plans to utilize this funding to create an AI-enabled platform for demanufacturing consumer laptops. Furthermore, the company aims to set up five robotic "Microfactories" in partnership with electronics disposition associates to effectively dismantle commonly utilized laptops.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> The funding follows a partnership with ABB robotics in <a href="https:<br>
//sp-edge.com/updates/34811"> October 2024 </a> to create micro-factories for recycling data center e-waste, targeting hyper-scalers operating large data center networks and IT Asset Disposition companies.</p>

Molg raises USD 5.5 million in seed funding to develop new manufacturing platform

<div>
 
 <p>BASF, a leading chemical and material science company, has teamed up with KREISEL Electric, a battery technology firm, to introduce sustainable recycling processes for batteries in Europe. This partnership seeks to employ hydrometallurgical recycling techniques to recover materials like lithium, cobalt, and nickel. The anticipated recyclability rate is 79%, which is significantly higher than the current 50% rate mandated by the EU. The collaboration aims to form a self-contained recycling system in Europe, progressing from battery discharge to material recovery. This would lessen dependency on external resources and reduce transportation emissions.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> In <a href="https:<br>
//sp-edge.com/updates/28867"> April 2024 </a> , BASF commenced operations of its metal refinery for battery recycling in Schwarzheide, Germany. Subsequently, in <a href="https:<br>
//sp-edge.com/updates/30601"> June 2024 </a> , BASF partnered with WHW Recycling to process and recover materials from EV battery waste in Europe.</p>

BASF partners with KREISEL Electric for battery recycling operations in Europe

<div>
 
 <p>Ecore, a rubber recycling firm in the US, has obtained a minority growth investment from General Atlantic via its BeyondNetZero climate growth fund. The investment amount is undisclosed.</p>
 <p>The funding is meant to back organic and inorganic growth strategies, reinforce core operational and technology infrastructure and hasten the implementation of the company's circularity and net-zero plans.</p>
 <p>General Atlantic's Michael Bevan and Wilson Bowen, from the BeyondNetZero fund, are set to join Ecore's board following the investment deal.</p>
 
</div>

Ecore raises funding in growth round to accelerate net-zero circularity strategies

<div>
 <p>Swedish textile recycling startup, Circulose (formerly known as Renewcell), has announced the appointment of Jonatan Janmark as its new CEO, effective from December 1, 2024. The company, which had earlier filed for bankruptcy, has successfully emerged from it under the stewardship of private equity firm Altor in June.</p>
 <p>Janmark will take the helm from Magnus Lundmark, who will now assume the role of leading operations. Janmark's appointment comes after his 11-year tenure at McKinsey &amp; Company, where he last served as a partner with a specialization in the consumer and textile industry.</p>
 <p>In another C-suite reshuffle, Circulose has given the reins of its board to Helena Helmersson, who will assume the role of chairman from December 1. Helmersson brings with her a wealth of experience, including her previous stint as CEO of H&amp;M Group from 2020 to January 2024. She had been part of the H&amp;M Group since 1997. According to Circulose, these leadership changes come at a crucial juncture as the company aims to tackle market challenges while concurrently ramping up demand for its unique textile pulp, which is created using garments that have reached the end of their life cycle.</p>
</div>

Circulose appoints Jonatan Janmark as CEO effective December 1, 2024

<div>
 
 <p>Bower, a mobile application from Sweden that encourages recycling, has joined forces with Varta, a battery manufacturer from Germany, to create an AI-powered feature for scanning and sorting batteries, eliminating the need for barcodes.</p>
 <p>The collaboration purportedly allows Bower's user base, which exceeds 700,000, to scan Varta batteries for recycling and earn rewards, all with an 85%–90% success rate. In an additional partnership with the Scouts, Varta UK is pledging to donate 1 GBP for every four batteries that are sorted via Bower, an initiative intended to heighten recycling awareness among young people.</p>
 
</div>

All Updates

Ambercycle raises USD 21.6 million in Series A funding

Grensol partners with XCharge to develop recycling solutions for EV charging equipment

ExxonMobil plans USD 200 million expansion of recycling facilities in Texas

Aduro Clean Technologies partners with Zeton to build hydrochemolytic pilot plant

Prism Worldwide raises USD 40 million in Series A funding for expansion

DEScycle raises GBP 10.2 million in funding to construct pilot plant

Molg raises USD 5.5 million in seed funding to develop new manufacturing platform

BASF partners with KREISEL Electric for battery recycling operations in Europe

Ecore raises funding in growth round to accelerate net-zero circularity strategies

Circulose appoints Jonatan Janmark as CEO effective December 1, 2024

Bower partners with Varta to launch AI-powered battery recycling scanning feature

Waste Recovery & Management Tech

Ambercycle raises USD 21.6 million in Series A funding

Contact us

All Updates

Ambercycle raises USD 21.6 million in Series A funding

Grensol partners with ​​XCharge to develop recycling solutions for EV charging equipment

ExxonMobil plans USD 200 million expansion of recycling facilities in Texas

Aduro Clean Technologies partners with Zeton to build hydrochemolytic pilot plant

Prism Worldwide raises USD 40 million in Series A funding for expansion

DEScycle raises GBP 10.2 million in funding to construct pilot plant

Molg raises USD 5.5 million in seed funding to develop new manufacturing platform

BASF partners with KREISEL Electric for battery recycling operations in Europe

Ecore raises funding in growth round to accelerate net-zero circularity strategies

Circulose appoints Jonatan Janmark as CEO effective December 1, 2024

Bower partners with Varta to launch AI-powered battery recycling scanning feature

Waste Recovery & Management Tech

Ambercycle raises USD 21.6 million in Series A funding

Contact us

Grensol partners with XCharge to develop recycling solutions for EV charging equipment