MBA Polymers raises $40M for recycling plants

Some plastics, like high grade steel or aluminum, are just too good to toss in the dump. But for years that has happened to them anyway, for lack of good recycling technology.

MBA Polymers was started to separate out worthwhile plastics from waste streams to break down and re-form into new, high-quality plastics. The company just took funding to build new recycling plants, according to VentureWire.

Although based in Richmond, Calif., MBA has plans to build its plants around the world, starting in either the United Kingdom or China.

The $40 million investment was co-led by Citi Sustainable Investments and Honeywell Capital Management, both large corporate investors. Previous backers Doughty Hanson Technology, Balderton Capital and Asia West returned for the round.

Next Story: Database appliance company Kickfire raises $20M
Previous Story: Google to start new venture capital division — likely for telecom

Tags: deal