CEFC backs Aussie recycling start-up – Australia

CEFC backs Aussie recycling start-up – Australia

Posted on March 24, 2022 by DrRossH in Plastic Waste News

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An Australian company has won the backing of the CEFC to tackle the traditional limitations of plastics recycling, allowing plastics to be recycled infinitely using an enzyme that accelerates the bacterial breakdown of plastic. The CEFC, through its Clean Energy Innovation Fund, is investing $1.1 million in Samsara Eco (Samsara).

The CEFC investment, made on behalf of the Australian Government is a part of a $6 million capital raising.

Samsara is developing a process that breaks down plastics, returning them to their original building blocks. This means the materials can be reused in new plastics, avoiding the constraints of existing recycling technologies. Samsara Eco has also attracted investment from CSIRO’s Main Sequence, and W23, the Woolworths venture capital and innovation fund.

“Samsara’s innovative technology is bringing a welcome solution to the major challenge of plastics recycling. The ability to infinitely recycle plastics is likely to significantly increase recovery rates and reduce the volume of plastics that end up in landfill,” CEFC CEO Ian Learmonth said.