Circularity-focused startup Resynergi announced that it has raised $18 million in a Series B funding round to open its first commercial site to convert plastic waste into feedstock materials that can be used to manufacture new products, offering a solution for hard-to-recycle plastics, which often end up in landfills and oceans.

Founded in 2015, California-based Resynergi uses Continuous Microwave Assisted Pyrolysis (CMAP) technology to convert plastic into its molecular building blocks to be used to create new materials. The system uses pyrolysis to convert plastic into hydrocarbon feedstock, which can then be converted back into plastic. The company works with recycling organizations to secure used and hard-to-recycle plastics, including high-density polyethylene (HDPE), low-density PE (LDPE), polypropylene (PP), and polystyrene (PS) waste plastics, which represent approximately 60% of the plastic types produced. Global plastic waste is expected to grow by 70% by 2050, and the investment will empower the company to address this issue, Resynergi said.

Brian Bauer, CEO of Resynergi, said:

“Sustainability goals and extended producer responsibility laws are fueling a surge in demand for efficient and reliable plastic recycling solutions… We’re committed to turn on the first of many commercial sites while enhancing the value chain we’ve created to divert plastic from our landfills and oceans and convert it back into its molecular building blocks for reuse. Together we’re reducing the strain on our environment and helping to mitigate the global plastic crisis.”

The new funding is an extension of a Series B fundraise at the beginning of 2024. This extension round was led by London-based Taranis, the investment and asset management company of Perenco Group, with participation by existing investors Lummus Technology and T1ST.

Emmanuel Colombel, CEO of Taranis Investment, said:

“We are proud to be part of Resynergi’s mission to lead in plastic waste transformation. Their scalable solution not only reduces CO2 emissions but produces high-quality recyclable materials, making them a key player in the global effort toward a circular economy. This investment reflects our commitment to accelerating the transition to a circular economy.”