August 9, 2017 by Canadian Plastics
A plastics recycler is among six Toronto-area cleantech companies receiving a total of $15.5 million in investments from the federal government’s Sustainable Development Technology Canada program.
GreenMantra Technologies of Brantford, Ont., is receiving $2.2 million to develop new ways to convert recycled plastics into new products.
Founded in 2010, GreenMantra utilizes a process that transforms plastics into high-value specialty chemicals such as waxes, greases, and lubricants. The firm sells custom wax formulations as well as drop-in replacement waxes to a variety of market segments including colour masterbatch, roofing shingles, rubber, coatings, and road asphalt modifiers.
The other five investments include:
The projects are being funded through Sustainable Development Technology Canada, which works with Canadian companies to bring early-stage clean technologies to market.
“From transportation to waste management, these companies demonstrate the strength and range of Ontario cleantech,” said Leah Lawrence, president and CEO, Sustainable Development Technology Canada. “Sustainable Development Technology Canada is proud to partner with these entrepreneurs to get their new technologies to the marketplace and deliver real environmental and economic benefits to all Canadians.”