Pyrowave closes investment round to bring its modular plastic recycling technology to the market
Type of post: NEWS.
Pyrowave
has announced the closing of a series B investment that marks the first step
towards bringing its modular technology to market. The company has developed a microwave-based
chemical recycling technology that allows post-consumer and post-industrial
plastics to be regenerated and restored to their full value.
Press release: “Pyrowave
closes Series B led by Michelin and Sofinnova Partners”, 30/4/2020.
Figure 1. Pyrowave closes investment led by
Michelin and Sofinnova Partners (extracted from the press release)
The round led by Michelin and Sofinnova Partners (European venture
capital firm investing in sustainable chemistry and biotechnology) also
includes Ecofuel, a
Quebec-based early stage cleantech venture capital fund. Early stage financial
partners have also renewed their confidence by reinvesting in the company. After
more than one year of technological review, the Pyrowave technology
demonstrated its ability to produce recycled styrene monomer from plastic waste
to be later integrated in the production of synthetic rubber, a major component
found in tires. Michelin has assessed Pyrowave technology and has decided to
support it.
The technology
Pyrowave technology is chiefly designed to
process polystyrene (it can process the full range of expanded polystyrene and
high impact polystyrene) but could possibly process polypropylene and
polyethylene. The generated products prevent the extraction of petroleum and avoid
the emission of 3 equivalent tons of greenhouse gases per ton of processed
plastics.
It is a modular technology that can be integrated
in local existing sorting facilities and can be rolled out quickly on the
market. It is based on a microwave system using about 15 times less energy than
the current process to manufacture styrene monomers from virgin resources, and
the heat released can be recovered to heat buildings. Its current yield can
reach up to 95% in monomer production and has a processing capacity ranging
from 100 kg/h to 200 kg/h. One module can therefore produce between 500 and 1.000
tons/year.
Figure 2. Simplified process diagram of Pyrowave
technology (extracted from a company brochure)