As it rapidly moves into a commercialisation phase, Montreal-based clean technology company Polystyvert, founded in 2011 and led by Nathalie Morin, president and CEO, is planning a number of strategic meetings in Europe with partners and investors to further accelerate the company's growth strategy.
Polystyvert specialises in dissolution recycling, a technology facilitating a circular economy for styrene plastics.
According to Morin, Polystyvert’s dissolution technology is the most advanced on the market. “There are great opportunities for partners who want to be sustainability leaders in their industry, or investors looking for mature solutions. We have a portfolio of patented applications in the innovative recycling of plastic waste, ready for deployment today, and with strong short-term growth potential.”
The coming meetings will familiarise value chain partners with the dissolution technology - conducted at low temperature and low pressure - developed by the company. The technology allows near-virgin quality recycled resin to be integrated into manufacturing production, benefitting sectors ranging from the automotive and electronics to the packaging, pharmaceutical and toy manufacturing industries. To that end, and faced with growing demand for certified food-grade recycled plastics, Polystyvert is taking steps to obtain a letter of no objection from the FDA, which will allow its recycled materials to be integrated into the food packaging chain.
The scheduled meetings will also showcase the investment opportunities opening up, with the construction of the first commercial plant in Montreal, Quebec, capable of processing 11,000 tonnes of polystyrene waste per year. A consortium has been formed to optimise the management of polystyrene waste across the logistics chain, from collection to recycling, helping to reduce waste sent to landfills and incineration.
Polystyvert’s dissolution technology is particularly well suited to styrene plastics, such as polystyrene and ABS, which are often difficult to recycle due to contaminants. It has been recognised by the Basel Convention for its ability to eliminate flame retardants in plastic waste.
The company has launched a pilot project for recycling ABS that has successfully demonstrated that its technology can produce a recycled resin that meets the industry specifications. The resin has successfully passed analyses by an internationally renowned ABS producer.
After only nine months in operation, this pilot has demonstrated that our expertise in dissolution recycling, acquired over a decade with polystyrene waste, can be rapidly applied to other plastics, thanks to the know-how of our teams," added Ms. Morin. In her meetings with investors she will also be highlighting opportunities to invest in the first commercial recycled industry-grade ABS resin.
Although Polystyvert's technology is the most advanced on the market and ready for commercialisation, a number of hurdles remain.
"The economic climate is a challenge for all cleantech companies. A first commercial plant is a must to demonstrate the technology at scale. It's our springboard toward selling licences abroad. That's why we're sending a message today to the governments of Quebec and Canada that they must continue to support us in this final step, so that we can keep ownership of the company in Quebec and Canada, and become an innovative technological champion in the fight against plastic waste and the decarbonisation of industry," said Ms. Morin.