Samsara Eco Raises AUD $100 Mn To Scale Enzymatic Recycling
Samsara Eco announced the successful completion of its latest funding round, raising AUD $100 million (USD $65 million).
The funding round was led by global investment company Temasek and Australian deep tech investment fund Main Sequence, with participation from new and existing backers, including Wollemi Capital, Lululemon, Hitachi Ventures, Titanium Ventures (formerly Telstra Ventures), and DCVC. This significant investment brings Samsara Eco closer to eliminating plastic waste and ensuring it never ends up in landfill or incineration again.
The newly acquired capital will be used to scale Samsara Eco’s enzymatic recycling capabilities. The company plans to build new commercial facilities in Southeast Asia over the next few years. These facilities will recycle large quantities of plastic waste, such as discarded textiles and packaging, to produce tens of thousands of tonnes of monomers—the molecular building blocks of plastics. These monomers will then be transformed into brand-new products, creating a truly circular loop.
Plastics have been an environmental disaster with almost every piece of the 9 billion tonnes ever made still on the planet. But almost all plastic is reusable and recyclable with the right technology. We’re on a mission to end plastic waste and with it, repair our climate, said Paul Riley, CEO and Founder of Samsara Eco.
Additionally, Samsara Eco will expand its library of enzymes beyond polyester, Nylon 6.6 and Nylon 6. This process has a substantially lower carbon footprint compared to the creation of virgin plastics.
