AECI and Clariter announced AECI’s investment of EUR 2,5 million in Clariter’s capital raising round and strategic collaboration to reduce the negative global effects of plastic pollution by producing sustainable high-value industrial products made from 100% plastic waste.
The investment takes the form of a convertible loan. AECI also has the option to participate in further funding rounds for a maximum amount of EUR 10 million.
The funding will be used to scale up the technology to the commercial level.
As part of the partnership, both companies will explore the development and construction of Clariter’s full-scale plants across parts of AECI’s existing geographic footprint, specifically South Africa, Germany and the USA.
In addition, both companies will work together for the Research & Development (R&D) of new specialty chemical applications and blends of advanced high-value industrial products. This includes blending products to create new products with a “green” premium as well as AECI’s off-take agreement and distribution of Clariter’s oils, solvents and waxes.
Clariter’s process treats majority of all types of plastic waste (including polyethylene, polypropylene and some polystyrene) in mixed quantities and converts plastics back to their constituent forms to deliver pure products that are drop-in ready replacements for existing product manufacturers.
Read more at https://clariter.com/news/