It would be interesting to know what kind of chemical byproducts (toxins) this process created. I think it is great that this kind of innovation is taking place, but there's always a hidden cost, it seems. - Dallas
Waste Management Invests $22m in Plastic-to-Fuel Company
Waste Management has participated in a $22 million investment round benefiting Agilyx Corporation, a company that makes synthetic crude oil from waste plastic.
The Series B funding, led by Kleiner Perkins Caufield & Byers (KPCB), included first-time investments from Waste Management and Total Energy Ventures International, an affiliate of Total S.A., and participation from existing investors Chrysalix Energy Venture Capital, Saffron Hill Ventures and Reference Capital.
Agilyx’s patented technology converts mixed waste plastic into crude oil that is then marketed to existing petroleum refineries. The company says its plant near Portland, Oregon is the largest commercially operational waste plastic to synthetic crude facility in North America.
Agilyx says it has recovered over one million pounds of plastic that would otherwise have been landfilled or incinerated, producing and selling more than 120,000 gallons of crude oil. Read the rest on Environmental Leader.