On September 13, UBQ Materials, a climate technology developer of advanced waste materials, announced that it has completed the
Partners led the $70 million financing, with other investors including TPG Rise Climate, TPG’s Rise Fund, and Battery
Ventures and M&G’s Catalyst strategy.
Image source UBQ Materials
The investment will be used to increase the commercial, sales and marketing scale of UBD Materials, including other facilities in Europe and North America, as well as the upcoming operation in Bergen, the Netherlands.
Industrial scale facility opened by Zoom. The new plant will have an annual production capacity of 80,000 tons of UBQ™ and can convert 104,600 metric tons of waste per year into new raw materials to produce bio-based thermoplastics.
UBQ Materials focuses on opening up the closed loop between waste, materials, and ecosystems. Through its advanced conversion technology, UBQ Materials
Created the world’s first bio-based thermoplastic UBQ™ made entirely from residual waste, which also includes numerous organics and hard-to-recycle materials.
It is understood that UBQ Materials’ bio-based thermoplastic, UBQ™, can serve as a sustainable alternative to petrochemical-based plastics. UBQ Materials
Converting remaining household waste, including all organic matter, diverted from landfill or incineration into an advanced thermoplastic material, a process that reduces methane gas produced in landfills and carbon dioxide emissions from waste incineration. Both climate-friendly and highly recyclable.
Image source UBQ Materials
Currently, some leading industry brands have applied UBQ™ to durable and semi-durable products such as auto parts, footwear, pallets, display racks, panels, flower pots, etc. Customers include Mercedes-Benz, PepsiCo and McDonald’s.
Jack (Tato) Co-Founder and Co-CEO of UBQ Materials
Bigio said, “UBQ creates a fully sustainable resource that is critical to a variety of applications in existing manufacturing industries. In addition to the major brands that adopt UBQ™, our other partners are integral to our system. part, enabling us to further expand our ‘UBQ Made’ applications and international footprint, driving a truly circular economy.”
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Currently, UBQ
Materials is investing heavily in R&D and developing new product lines to meet the functional and performance requirements of materials and serve industries such as construction, durable consumer goods, automotive, logistics and supply chain in the future.
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