Home News Plastics-to-fuel company receives investment from Ontario agency

Plastics-to-fuel company receives investment from Ontario agency

International Recycling News, Plastics

GreenMantra Technologies will receive $2 million to boost its recycling efforts.

REW Staff July 1, 2014

The province of Ontario’s Sustainable Development Technology Canada (SDTC) SD Tech Fund has announced plans to invest CD$2 million ($1.864 million) in GreenMantra Technologies, a plastic scrap-to-fuel firm headquartered in Brantford, Ontario.

The company was founded in 2010 to commercialize a catalytic technology that breaks down plastics into waxes and fuels. GreenMantra says its technology platform is highly flexible and can use a wide variety of plastics feedstock, including virgin polyethylene and polypropylene, recycled consumer plastic scrap, industrial plastics and mixed plastic feedstock.

The Tech Fund is charged with supporting projects that address climate change, air quality, clean water and clean soil.

“GreenMantra is very thankful for the support from SDTC,” says Tim Haig, president of CEO of Green Mantra Technologies. “With funding ready to go, we’re eager to showcase the capabilities of GreenMantra’s technology and become the industry’s leading supplier of environmentally friendly waxes.”

Adds Greg Rickford, Canada’s Minister of Natural Resources and Minister for the Federal Development Initiative for Northern Ontario, “The investments announced today demonstrate our government’s commitment to environmental stewardship and creating high quality jobs in Ontario. By supporting advanced research and technology, our government is investing in Canadian prosperity and a cleaner environment.”

Jim Balsillie, chair of SDTC, comments, “Clean technologies are helping us make the most efficient use of our resources, bringing down operating costs, creating value-added jobs and minimizing environmental impacts in the Canadian economy. The projects announced today are prime examples of how SDTC’s investments are assisting small and medium-sized Canadian companies gain the traction they need to move toward the forefront of the global cleantech sector.”

In addition to GreenMantra, other companies receiving investments include the following: Ubiquity Solar Inc., Waterloo, Ontario, which will receive more than $3 million for its solar powered technology; Electro Kinetic Solutions, Toronto, which will receive more than $2 million for tailing ponds remediation; Morgan Solar, Toronto, which will receive more than $2 million for solar panel technology; and Cleeve Technology Inc., Oshawa, Ontario, which will receive $710,000 for de-coating technology for aircraft maintenance.
 

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