MBA Polymers raises $20M to recycle "anything" with plastic

May 11, 2007 | Matt Marshall

MBA Polymers, a Richmond, Calif company that recycles engineering plastics from waste streams and things like used computers, automobiles and sporting equipment, has raised at least $20 million

This is a 15-year-old business, co-founded by former Dow Chemical Co. engineers Mike Biddle and Trip Allen. The funding is the latest evidence of how interest by investors in green technologies lately is transforming start-ups and mature companies alike.

VentureWire (sub required) first reported the news of the funding today:

Now, with new funding from new investors including Benchmark Capital Europe, Doughty Hanson Technology Ventures, and previous investor Asia West LLC, the company is looking to expand its business across Europe, according to a source with knowledge of the investment.

The company previously raised capital from strategic investors including Flextronics International Inc. and a business unit of General Electric Co., and seed funding from Band of Angels and American Industrial Partners. To date, MBA Polymers has raised around $50 million, the source said.

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About the Author, Matt Marshall

Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.