Toronto – July 9, 2018
GreenSky Capital is proud to announce that Pyrowave Inc.. which uses its unique microwave technology to process plastic waste, will receive a $1-million investment under Export Development Canada’s (EDC) new Cleantech Co-Investment Program. It is the first investment of the program.
Said Pyrowave CEO Jocelyn Doucet, “We’re proud to be the first deal in this new program. We want to position our technology as the main engine for a circular economy.”
For more details, an article in Canada’s National Observer may be read here.
Pyrowave is currently the leader in Catalytic Microwave Depolymerization with its unique patented microwave technology that unzips plastics back into their initial constituents. Only 8% of plastics generated today are recycled – yet the costs to haul, store, sort and process plastics are enormous. Using patented Catalytic Microwave Depolymerization (CMD), Pyrowave places small, modular units directly onsite at recycling facilities and at producers of plastic waste. Pyrowave has one machine in operation producing the world’s first Recycled Styrene Monomer (RSM) from post-consumer polystyrene waste that is sold to large polymer companies. Pyrowave’s technology enhances the rate and the range of recyclable materials, reduce logistics costs and produce higher value end products from waste plastics – products such as recycled wax, oil and monomers. Pyrowave has a growing impact on the environment by promoting resource efficiency. Its technology will reduce waste landfilling, waste incineration and waste hauling via a net positive energy process.
About GreenSky Capital
GreenSky Capital Inc. is an award winning Toronto-based investment firm that provides investment and corporate financial advisory services to small and medium sized technology firms. It is affiliated with the GreenSky Accelerator venture capital funds. GreenSky looks for long-term partnerships with high growth potential companies and dedicated entrepreneurs. GreenSky principals bring a unique combination of experience in technology, law and finance into a real-world context.