Tyromer Inc., a University of Waterloo spin off, has closed a $750,000 investment from First Leaside Visions II Limited Partnership.
With initial financial support from the Michelin Development Company and the Ontario Centres of Excellence, the company is commercializing a patented rubber devulcanization technology developed at the University of Waterloo. Tyromer offers a solution to scrap tire management and to recover valuable synthetic rubber from a massive renewable resource.
The new capital infusion will allow the company to accelerate development efforts, build a pilot plant and deliver its flagship product – tyromer™ – to customers.
Tyromer is based in Waterloo, Ontario, Canada at the Accelerator Centre in the University of Waterloo’s Research & Technology Park.