eCullet Inc., a Palo Alto, California-based glass processing company, closed an agreement to receive an up to $38m investment.
Commitments came from DB Masdar Clean Tech Fund L.P., and existing investor Angeleno Group.
Led by CEO Craig London, eCullet utilizes its proprietary technology to produce color-sorted, contaminant-free, furnace-ready cullet, which it supplies to the glass container manufacturing industry. The company aims to help glass container manufacturers reduce greenhouse gas emissions, decrease energy consumption and preserve natural resources while supporting recyclers in diverting glass residue away from the landfill.
FinSMEs
19/07/2011