MicroGREEN Polymers, Inc., an Arlington, Washington-based innovative plastics company that uses a patented technology (called Ad-air®) to reduce the amount of plastic required for the production of consumer products, has received a strategic investment from Waste Management, Inc. (NYSE:WM), as part of a $6.9m Series B round of financing.
Waste Management joins Seattle-based WRF Capital, Northwest Energy Angels and other private investors.
This funding will enable the company to increase engineering, sales and marketing staff, and expand its commercial production capabilities for a wide range of consumer products.
Later this year, MicroGREEN will begin offering a line of its Ad-air enhanced rPET sheets in various gauges for converters to transform into consumer products and packaging. The comapny also plans to launch its first converted product – a low-density, thermally-insulating beverage cup that is recyclable and is itself made from recycled material.
In addition, this investment will also help Waste Management meet two of its sustainability goals: tripling the amount of recyclables it processes by 2020, and investing in emerging technologies for managing waste.