Toronto, ON, October 20, 2014 – Pyrowave Inc., producers of patented distributed microwave pyrolysis technology that significantly improves the economics of recycling plastics, is pleased to announce the closing of $250,000 in convertible debt financing with assistance from GreenSky Capital Inc.
CEO Jocelyn Doucet: “These funds will finance our final pilot machine using designs and specifications developed through five years of research from some of the world’s top experts in pyrolysis. With partners already in place to lease our machines as well as partners to purchase our output, this is our final critical step before commercialization.”
Pyrowave intends to raise additional equity funds in the near future through institutional and individual investors in the GreenSky network, including the GreenSky President’s Club, a NACO-registered angel group.
About Pyrowave, Inc.
Only 8% of plastics generated today will be recycled, yet the costs to haul, store, sort and process are enormous. Using patented microwave pyrolysis technology, Pyrowave places small, modular units directly onsite at both recyclers and producers of plastic waste. Pyrowave expands the range of recyclable materials, reduces logistics costs and produces higher value end products. Pyrowave cares about the environment. Its technology reduces waste landfilling, waste incineration and waste hauling via a net positive energy process. See www.pyrowave.com