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        Prism Worldwide, a tire recycling technology company, has secured USD 40 million in Series A and A1 funding co-led by Columbia Pacific Advisors and Jim Sinegal, former CEO of Costco. Robert Anderson, the former CEO of Anderson Daymon Worldwide, also participated in the round.
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        The company reports that the funding will be used to consolidate operations, make capital investments in technology and equipment, and expand its team. It has already enabled the acquisition of CRC Polymer Systems, a custom compounding company.
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    <a href="https://www.prnewswire.com/news-releases/prism-worldwide-raises-40-million-in-series-a-and-a1-funding-co-led-by-columbia-pacific-advisors-and-former-costco-ceo-jim-sinegal-302310084.html">
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Waste Recovery & Management Tech

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 <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>

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

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<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

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 <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

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 <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

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

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 <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>
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Circulose appoints Jonatan Janmark as CEO effective December 1, 2024

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

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 <p>Altilium, a UK-based clean tech startup, has launched an 18,000 sq ft EV battery recycling facility in Plymouth. This is the UK's first and uses Altilium’s proprietary EcoCathode technology.</p>
 <p>The focus of the facility is on recycling lithium-ion batteries from electric vehicles to recover metals and create cathode active materials (CAM). The plant is capable of processing more than 200,000kg of batteries annually. The recovered materials will then be reused for the production of new EV batteries in the UK.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> The company announced plans to construct its facility in <a href="https:<br>
//sp-edge.com/updates/14353"> November 2022 </a> . In <a href="https:<br>
//sp-edge.com/updates/35350"> October 2024 </a> , the company launched Recell.store, an online platform that allows businesses to sell and recycle end-of-life EV batteries, which will potentially open its services to all UK businesses by leveraging the capacity of its Teeside facility.</p>

Altilium opens EV battery recycling facility in Plymouth

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 <p>Tozero, a German lithium-ion battery recycling startup, has secured EUR 11 million in seed funding. NordicNinja led the investment, with additional participation from In-Q-Tel, Honda, and JGC Group.</p>
 <p>The startup plans to use the new funds to scale up its recycling technology and grow operations into other parts of Europe and North America.</p>

</div> <p><b>Analyst QuickTake:<br>
 </b> The latest round of funding to scale the company’s technology supplements the EUR 2.5 million (~USD 2.7 million) grant received under the European Innovation Council (EIC) Accelerator program in <a href="https:<br>
//sp-edge.com/updates/31827"> July 2024 </a> as financial assistance and access to a beneficial network of mentors and global opportunities.</p>

Tozero raises EUR 11 million in seed funding to scale recycling technology

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 <p>French home decoration and furniture company, Authentic Material, has partnered with Arkema, a specialty materials company. The partners have created a compound of recycled leather combined with Rilsan polyamide 11 and Pebax TPE pellets. These compounds, part of Authentic Material's Qilin brand, can be processed through various methods, targeting a range of markets including luxury goods, fashion, consumer electronics, automotive interiors, and sports equipment.</p>
 
<p>The partnership uses Authentic Material's proficiency in leather processing, Arkema's bio-based polyamide 11 materials, and the Virtucycle recycling program with the intent to create sustainable, yet high-performing and luxurious materials.</p>
 
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All Updates

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

Altilium opens EV battery recycling facility in Plymouth

Tozero raises EUR 11 million in seed funding to scale recycling technology

Authentic Material and Arkema partner to develop recycled leather-polymer compounds

Waste Recovery & Management Tech

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

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