Arglass, a Valdosta, GA-based glass container manufacturer, secured over $230M in capital.
The company intends to use the funds to build a second furnace on its campus in Valdosta, Georgia. Arglass raised a combination of structured equity and debt to finance the construction. The backers were not disclosed.
Led by CEO José de Diego Arozamena, Arglass is a glass container manufacturer, which has developed an agile, and sustainable operation in North America, capable of meeting the evolving needs of a dynamic consumer market.
Commenting on the news, José de Diego Arozamena said: “Glass is already the most sustainable, recyclable and healthy packaging material, and the only packaging material classified as ‘generally recognized as safe’ by the FDA. I am incredibly proud to be leading the industry to new heights in sustainability.”
Projected to be completed in Q2 2025, the new facility is expected to be capable of producing over 350 million sustainable glass containers annually. The recycling plant will provide post-consumer glass cullet for use in the production of new containers. Arglass also produces glass using its proprietary Arglass Biogenic® glass composition, which replaces traditionally mined material with a naturally renewing, carbon-negative biogenic component gently harvested from the ocean.
FinSMEs
07/02/2024