PYROWAVE to receive 3,2 M$ from Sustainable Development Technology Canada
Funding to advance plastic circularity
The Honourable Navdeep Bains, Canadian Minister of Innovation,Science and Economic Development, has announced that Pyrowave will be one of 14 cleantech companies across the country who will leverage $46 million in funding from Sustainable Development Technology Canada(SDTC) to bring new and innovative clean technologies to market.
The SDTC supports Canadian companies with the potential to become world leaders in their efforts to develop and demonstrate new environmental technologies that address climate change, clean air, clean water and clean soil. Pyrowave has been granted 3,2 M$ to extend its technology platform of chemical plastic-to-plastic recycling to mix plastics, a strategic investment for the Canadian pioneer.
Pyrowave provides a groundbreaking technology that regenerates post-consumer plastics by breaking them down at the molecular level, reducing them to their basic constituents — the monomers — which can be used to make new plastic resins identical to virgin plastics and restore their full value. Pyrowave leads the way to a true circular economy of plastics and is at the forefront of the new generation of plastics.
"The Federal government has been an early supporter of our innovative Plastic-to-Plastic microwave-based chemical recycling technology, which has propelled us to achieve success in polystyrene recycling (plastic #6) into new plastic, a breakthrough in the industry." said Pyrowave CEO Jocelyn Doucet. "Today, we are thrilled to see this commitment renewed to further develop our unique technology platform to provide a one stop shop for PP, PE and PS recycling. Thus targeting mix plastic bale containing hard-to-recycle plastics such as multilayer plastic films and flexible packaging, enabling to transform waste into high-value products in a circular value chain," said Jocelyn Doucet.
"Canadian cleantech entrepreneurs are tackling problems across Canada and in every sector. I have never been more positive about the future. Pyrowave is a pioneer in the plastics-to-plastics microwave recycling business. Their technology uses microwaves to convert plastics into value-added products used by the chemical industry - a true example of a circular economy solution to meet an important global challenge," said Leah Lawrence, President and CEO, SDTC.
Pyrowave's innovative technology emits three times less Greenhouse Gas Emissions to produce polystyrene from recycled material than from virgin fossil material and consumes 15 times less energy. The $3.2 million awarded to Pyrowave will be used to create a dedicated Research & Development unit of three PhD engineers allowing the company to continue to innovate towards a circular economy solution to meet the global challenge of plastic recycling.
Molecular recycling allows an infinite recycling of numerous plastics as it brings plastics back to their native, virgin-like state. Molecular recycling gives access to the same markets as the virgin resins, thus creating a new generation of plastics.