Friday, April 4, 2014

Newlight Technologies Finds $9.2M For Carbon Negative Plastics

Irvine-based Newlight Technologies, a developer of technology which converts greenhouse gases into plastic, has raised $9.2M in a funding round, the company said this week. According to the company, the new funding brings its total raised to $18.8M. Newlight said the funding came from both new and existing investors. Names of those investors were not announced. Newlight is led by Mark Herrema, and says its technology converts greenhouse gases like methane into carbon-negative plastics, which replaces oil-based plastics; the company said it is looking to use methane from farms, water treatment plants, and municipal landfills into a high-value PHA-based thermoplastic materials, comparable to polypropylene and polyethylene. More information »

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