New funds for Samsara Eco
28/06/2024
Investors include Singaporean state fund Temasek and Main Sequence, the deep-tech venture arm of Australian research centre CSIRO, along with new and existing backers such as lululemon, to name just one. Earlier this year, the Canadian athleisure brand introduced products made from Samsara Eco’s enzymatically recycled nylon 6.6 and polyester.
The company also plans to use the funds to expand its research team and increase its library of plastic-eating enzymes. The company’s first proof of concept facility is in operation in Canberra, where it is based, and the construction of a new innovation campus south of the capital, in Jerrabomberra, is underway.
Commenting on the news, Samsara Eco founder and CEO Paul Riley said: “The ability to infinitely recycle plastic in an environmentally friendly way is a game-changer for brands and our planet. Our enzymatic recycling technology makes it easy for brands in almost every industry to meet their sustainability and decarbonisation goals by creating a circular loop for plastics. We’ve already made significant traction in the textile space but this is just the beginning.”
Read up on biotech enzyme recycling processes in our feature here.
Image courtesy of Samsara Eco
Share this story:
