Resynergi, a chemical recycling company that uses pyrolysis, is receiving additional cash that will allow the company to commission commercial production.
The Rohnert Park, Calif.-based company said Feb. 20 it raised $18 million through a round of funding led by Taranis Investment, an investment and asset management company owned by Perenco Group.
Resynergi uses what the company calls Continuous Microwave Assisted Pyrolysis (CMAP) technology.
Pyrolysis, a type of chemical recycling, uses heat and pressure to break down used plastics into hydrocarbons that can then be reconstituted into fuels or used to make new plastics.
Resynergi said its work is to make these hydrocarbons from hard-to-recycle plastics into new plastics.
The company has operated a pilot scale plant in Santa Rosa, Calif., since March 2021.
"Their scalable solution not only reduces CO2 emissions but produces high-quality recyclable materials, making them a key player in the global effort toward a circular economy. This investment reflects our commitment to accelerating the transition to a circular economy," Taranis Investment CEO Emmanuel Colombel said in a statement.
Existing investors in the company, Lummus Technology and T1ST, also were part of the latest round of fund raising.
Lummus Technology supplies the pyrolysis equipment, called Resynergi Modules, for the company's CMAP technology.
"Sustainability goals and extended producer responsibility laws are fueling a surge in demand for efficient and reliable plastic recycling solutions," Resynergi CEO Brian Bauer said in a statement.
Pyrolysis is part of a larger category of chemical recycling technologies that are being viewed by some as an alternative to mechanical recycling of plastics. These technologies, often collectively called molecular recycling or advanced recycling, aim to break plastic down to its molecular constituents. Mechanical recycling, meanwhile, keeps plastics' existing chemistry while typically grinding, washing and reshaping the resin, often back into pellet form or less often directly into the production of new products.