Pyrowave’s patented product breaks down plastic items, like Styrofoam cups or food containers, back into their original compounds. They can then be sold back to companies for reuse.
Canada’s federal credit agency has a new business partner — a plastic-zapping microwave company born and raised in Montreal. Pyrowave, which uses its unique microwave technology to process plastic waste, will receive a $1-million investment under Export Development Canada’s (EDC) new Cleantech Co-Investment Program. The program aims to catalyze growth in smaller, early-stage Canadian clean tech companies with the potential to break into overseas markets. The deal has been in the works for more than a year, said the company’s co-founder and CEO Jocelyn Doucet, and includes contributions from the Montreal-based investor Ecofuel and a European investor as well. "We’re proud to be the first deal in this new program for sure," he told National Observer. "We want to position our technology as the main engine for a circular economy… we would like to see our core technology being integrated into other chemical recycling technologies." Bringing plastic back to the basics Pyrowave’s patented product breaks down plastic items, like Styrofoam cups or food containers, back into their original compounds. They can then be sold back to companies that want to re-make those same plastic products, or other plastic products made of the same ingredients. It saves companies from having […]
