Sortera Alloys, Inc., a Fort Wayne, Indiana-based innovative industrial scrap metal sorting and recycling company powered by A.I. imagery, data analytics, and advanced sensors, raised $10M in funding.
The round was led by Assembly Ventures with additional funding from Breakthrough Energy Ventures and Novelis.
Led by Michael Siemer, CEO, Sortera is dedicated to providing a solution for end-of-life circular recycling in the aluminum industry. Its A.I.-powered technology allows existing streams of mixed alloy aluminum scrap to be separated back into individual alloys. The upgraded metals can then be recycled back into the highest value applications ranging from automotive cast and flat-rolled products to building, construction, and aerospace materials extrusions. The company’s scalable production process enables customers to reduce their CO₂ footprint and achieve sustainability and circular production goals due to the fact that recycled aluminum requires roughly 95% less energy to produce than aluminum produced from virgin raw materials.
Sortera operates from a 10-acre production facility in Fort Wayne, IN, with plans to expand through the end of 2022.
FinSMEs
07/07/2022