MBA Polymers raises $20M to recycle “anything” with plastic
MBA Polymers, a Richmond, Calif company that recycles engineering plastics from waste streams and things like used computers, automobiles and sporting equipment, has raised at least $20 million
This is a 15-year-old business, co-founded by former Dow Chemical Co. engineers Mike Biddle and Trip Allen. The funding is the latest evidence of how interest by investors in green technologies lately is transforming start-ups and mature companies alike.
VentureWire (sub required) first reported the news of the funding today:
Now, with new funding from new investors including Benchmark Capital Europe, Doughty Hanson Technology Ventures, and previous investor Asia West LLC, the company is looking to expand its business across Europe, according to a source with knowledge of the investment.
The company previously raised capital from strategic investors including Flextronics International Inc. and a business unit of General Electric Co., and seed funding from Band of Angels and American Industrial Partners. To date, MBA Polymers has raised around $50 million, the source said.
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