Resynergi has announced that it has successfully raised $18 million in the Series B extension funding round led by the Perenco Group’s investment and asset management company, Taranis. The modular advanced plastic recycling technology innovator can now commission its first commercial-scale site, allowing the company to address the demand for sustainable, circular plastic resin as it moves towards a circular economy.
Resynergi
Resynergi raises $18M in Series B extension funding round
“Sustainability goals and extended producer responsibility laws are fuelling a surge in demand for efficient and reliable plastic recycling solutions,” said Brian Bauer, CEO at Resynergi. “We're fortunate to have mission-aligned partners like Taranis, Lummus Technology, Transitions First (T1ST) and a committed bench of existing investors that recognise the market opportunity in front of us. We're committed to turn on the first of many commercial sites while enhancing the value chain we've created to divert plastic from our landfills and oceans and convert it back into its molecular building blocks for reuse. Together we're reducing the strain on our environment and helping to mitigate the global plastic crisis.”
Taranis Investment is enabling Resynergi to expand its operations with its first commercial-scale site. This will allow the company to help address the estimated 70% global growth in plastic waste by 2050.
Emmanuel Colombel, CEO of Taranis Investment added, “We are proud to be part of Resynergi's mission to lead in plastic waste transformation. 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.”
Additionally, Katherine Corrigan, from Taranis Carbon Ventures, will join Resynergi’s Board of Directors. Lummus Technology and T1ST, both existing investors, also participated in the Series B extension round. Ilya Aranovich, VP of Corporate Strategy at Lummus Technology, and Marianne Abib-Pech, Managing Partner at T1ST and former Global CFO of Shell Aviation, remain on the company's board of directors.