New investment to help Polystyvert build plant in Montreal

Polystyvert, which specializes in recycling styrenic plastics (polystyrene and ABS), has landed new investments of more than $16 million.

Polystyvert’s demonstration plant.

This investment represents another step for the company towards the construction of its very first commercial plant in Québec, dedicated to recycling highly contaminated polystyrene waste. It is expected to become operational in 2026.

Other investors will participate in a second tranche of this financing to raise up to $30M.

“This announcement, in the current economical context, reflects the unwavering support of our investors in our team and our proven technology, which is not only economically viable but also represents the shortest recycling loop for this type of waste, greatly reducing its environmental footprint. All the conditions for success are thus met to move forward with the next steps towards our first commercial plant in Montréal,” said Nathalie Morin, president and CEO of Polystyvert.

Part of this funding will also be used to diversify Polystyvert’s intellectual property (IP) portfolio, which already includes over forty patents with worldwide coverage.

Infinity Recycling was the main investor in this round, followed by SWEN Blue Ocean, and Earth Foundry, an existing shareholder. 

“Polystyvert’s game-changing recycling process upcycles contaminated plastic waste into premium materials.  This commitment to scaling advanced recycling technologies is crucial in tackling the plastic waste crisis and fostering sustainable circular market growth,” said Jan-Willem Muller, managing partner at Infinity Recycling.

Polystyvert’s process addresses the challenges of plastic waste purification by removing the contaminants found in plastic compounds, allowing safe recycled content to be used in the same applications as virgin resin.