Today, Closed Loop Partners announces the deployment of an over $10 million loan from its Closed Loop Infrastructure Group to Canada-based GreenMantra Technologies, a molecular recycling company at the forefront of creating specialty waxes and polymer additives from recycled polyethylene (PE) and polypropylene (PP). This is the Infrastructure Group’s third loan to GreenMantra over the course of the last decade. This latest investment will be used to finance equipment to increase material processing at their existing Brantford, Ontario facility.
Founded 15 years ago, GreenMantra has commercialized a proven and scalable technology to utilize plastics that are typically hard to recycle. Using a patented process, the company molecularly modifies plastic waste into new, high-quality materials that can be used in everyday industries like roofing and road paving to drive greater value and sustainability in the finished product. GreenMantra offers a depolymerization process that is more energy efficient than other similar technologies, converting the waste plastics into specialty performance additives. Technologies like this are essential for tackling the huge variety and amount of plastic waste generated. Molecular recycling, alongside material reduction, reuse and mechanical recycling, is needed to move the needle on plastics currently recycled globally.
“Optimizing plastics recovery in North America requires diversified solutions––including mechanical and molecular recycling technologies in the region. These solutions must work collaboratively and meet the standards needed for economic viability, and environmental and human health impact,” says Jennifer Louie, Managing Director of the Closed Loop Infrastructure Group at Closed Loop Partners. “GreenMantra demonstrates a resilient business model, a technically proven process and a clear path to scale. We look forward to continuously supporting the company as they further their mission to valorize plastic waste otherwise destined for landfills.”
This round of financing takes place amidst growing supply chain volatilities and an increasingly urgent need to secure additional sources of valuable materials that do not rely on resource extraction or landfills. The capital is deployed from the Closed Loop Infrastructure Group’s Circular Plastics investment strategy, backed by Dow, LyondellBasell, NOVA Chemicals, SEE, SK geo centric Co., Chevron Phillips Chemical, Charter Next Generation and Sumitomo Mitsui Banking Corporation. The Circular Plastics Strategy actively seeks to invest in sustainable technologies, organizations and projects that advance the recovery and recycling of plastics in the U.S. and Canada, helping to meet the growing demand for solutions that keep high-quality and valuable materials in circulation.
Financing from the Closed Loop Infrastructure Group, a team with extensive experience in material circularity for plastics and beyond, is expected to increase GreenMantra’s output of specialty products by approximately 50%, significantly enhancing its ability to do more for communities, its customers, and plastic waste diversion from landfills.
“This financing marks a significant acceleration in our work to scale solutions that help ensure hard-to-recycle materials do more for our planet,” says Domenic Di Mondo, Chief Executive Officer at GreenMantra Technologies. “With the support of Closed Loop Partners and other investors, we’re now expanding commercial capacity for our products to meet growing demand––transforming even more recycled plastics into high-performing materials, and keeping valuable resources in circulation.”
Following this investment round, GreenMantra will continue to pursue near-term geographic expansion opportunities, scaling reliable product solutions and advancing the worldwide transition to a more resilient circular economy. The Closed Loop Infrastructure Group continues to catalyze capital into circular economy infrastructure and solutions that keep a range of valuable materials in circulation.
