Resynergi, an in-modular advanced plastic recycling technology, announced it has raised $18 million in Series B extension funding led by Taranis, the investment and asset management company of Perenco Group. This funding round enables Resynergi to commission its first commercial-scale site, equipping the company to address the outsized demand for sustainable, circular plastic resin and advance its mission to accelerate the transition to a circular economy.
Taranis Investment is committed to Resynergi’s vision for a more circular, low-carbon future. And the funding will enable Resynergi to expand operations for its first commercial-scale site, positioning the company to play a key role in addressing the estimated 70% global growth in plastic waste by 2050.
Following the funding, Katherine Corrigan from Taranis Carbon Ventures will join the Resynergi Board of Directors. Existing investors Lummus Technology and T1ST also participated in this Series B extension round, further reinforcing their commitment to plastic circularity and accelerating industrial transitions for a more sustainable future. 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.
Resynergi’s Continuous Microwave Assisted Pyrolysis (CMAP) technology, branded Resynergi Modules and supplied by partner Lummus Technology, provides a transformative approach to plastic recycling. And the modular design allows for rapid scaling, enabling material recovery facilities and businesses to efficiently process up to 50 tons of plastic waste per day. With a smaller footprint and fast conversion times, Resynergi Modules offer a cost-effective and environmentally friendly alternative to traditional recycling methods.
KEY QUOTES:
“Sustainability goals and extended producer responsibility laws are fueling a surge in demand for efficient and reliable plastic recycling solutions. We’re fortunate to have mission-aligned partners like Taranis, Lummus Technology, Transitions First (T1ST) and a committed bench of existing investors that recognize 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.”
- Brian Bauer, CEO at Resynergi
“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.”
- Emmanuel Colombel, CEO of Taranis Investment
