EVANSTON, ILL. (June 1, 12:15 p.m. ET) — A company starting out of Northwestern University that develops nanomaterials from plastic waste is getting a financial boost from Waste Management Inc. and Rice University.
Mimas Nanomaterials has been awarded Waste Management's annual Think Green $100,000 prize through the Rice University Business Plan Competition.
The prize encourages development of technologies in the clean technology area, including recycling and renewable energy, Houston-based Waste Management said.
Evanston-based Mimas makes particles and carbon nanotubes using post-consumer plastic waste such as grocery store bags.
“As part of our ongoing investments in cleantech companies, we designed the Think Green award to help them scale their ideas and apply their technologies in the real world,” said Carl Rush, senior vice president of the Organic Growth Group at Waste Management, in a statement.
Both Rice University and Waste Management's headquarters are in Houston.