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Pyrowave receives $1M in funding from Sustainable Development Technology Canada (SDTC)

Pyrowave receives $1M in funding from Sustainable Development Technology Canada (SDTC)

By on Mar 7, 2016 in news | 0 comments

TORONTO, ONTARIO and EDMONTON, ALBERTA- The Minister of Innovation, Science and Economic Development, Hon. Navdeep Bains, today announced at an Alberta Enterprise Group Breakfast in Edmonton, Canada their commitment to $206M in funding 36 SDTC projects including $1.032M to Pyrowave Inc. “Sustainable Development Technology Canada (SDTC) is incredibly proud to support Pyrowave” said Leah Lawrence, President and CEO. “Our mission is to help Canadian cleantech entrepreneurs move their ground-breaking technologies to commercialization by bridging the funding gap between research and market entry. This commercial scale demonstration of the Pyrowave machines is the kind of technology that has the potential to generate jobs, growth and export opportunities, and to bring lasting economic, environmental and health benefits to Canadians and the world.” “The Pyrowave technology is the first cost effective solution to address end of life of polymers. Our unique technology recovers monomers and wax that are then re-used to make new polymers and packaging”, says Jocelyn Doucet, CEO of Pyrowave. “The support of SDTC is essential in completing our full scale demonstration and proving that our business model works.” Pyrowave’s patented technology uses microwave heating to perform fast de-polymerization of mixed plastics with small-scale modular units capable of treating 400-1,200 tons/year on-site. The equipment converts mixed plastics with or without food contamination into predominantly oil containing valuable waxes and monomers. The products are sold to chemical companies that re-use the monomers and waxes for FDA compliant applications and therefore cost effectively closes the loop of polymers life cycle. Pyrowave has also obtained the support of Total Petrochemicals & Refining USA, Inc. and Greencentre Canada, both partners in the demonstration...

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Pyrowave receives financial support from Foresight Clean Technology Accelerator and BDC Capital

By on Mar 12, 2015 in news | 0 comments

Two Canadian Cleantech Startups Gain Funding for Transformative Clean Technologies Vancouver, BC – March 10, 2015 – Foresight Clean Technology Accelerator is pleased to announce that it is the first clean technology accelerator in Canada to partner with BDC Capital (BDC), through its convertible note program, which supports promising Canadian startup cleantech companies. “Our first two financings in December 2014, under this BDC Capital program bear witness to cleantech innovation in Western Canada,” said Neil Huff, Managing Director of the Foresight Cleantech Accelerator Centre. “Our first award recipients have not only met BDC and Foresight’s strict investment criteria, but they have identified promising clean energy technologies that have commercial potential and can offer a positive impact to their respective industries and Canada’s environment.” BDC convertible notes, offered to select early-stage companies, provide pre-series ‘A’ financing of $250,000 that can be converted into shares later in the company’s life. To qualify, each company requires a co-investment from angel and/or institutional investors for a minimum total financing of $500,000. The first recipient, Dark Vision, has developed a downhole imaging technology that can reduce cost and minimize the environmental impact of resource development. By enabling improved visualization through wellbore fluids – including bitumen, drilling mud and frack fluids – operators can increase production and reduce total cost of energy. Initial deployments are targeted in 2016. Foresight’s second recipient, Pyrowave, has developed modular units that incorporate a proprietary pyrolysis technology for use by plastic recyclers and plastic waste producers. Through a net positive energy process, these units reduce waste and the impact of incineration while expanding the range of recyclable materials. “As part of our sector diversification effort, we are pleased to work with a strong team at Foresight and provide seed funding for two Canadian companies who have demonstrated entrepreneurial leadership in Energy and Cleantech, said Dominique Bélanger, Vice-President – Strategic Investments & Partnerships at BDC Capital.” By accessing the combined resources of BDC and Foresight, we are confident these companies will create shared value and sustainable economic growth for all shareholders. About Foresight Clean Technology Accelerator Centre Foresight Clean Technology Accelerator Centre is a Vancouver, Canada based not-for-profit devoted to assisting early-stage cleantech innovators with the guidance, training, and funding to...

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Pyrowave Inc. Raises Convertible Debt through GreenSky Capital

By on Oct 16, 2014 in news | 0 comments

Toronto, ON, October 10, 2014 – Pyrowave Inc., producers of patented distributed microwave pyrolysis technology that significantly improves the economics of recycling plastics, is pleased to announce the closing of $250,000 in convertible debt financing with assistance from GreenSky Capital Inc. CEO Jocelyn Doucet: “These funds will finance our final pilot machine using designs and specifications developed through five years of research from some of the world’s top experts in pyrolysis. With partners already in place to lease our machines as well as partners to purchase our output, this is our final critical step before commercialization.” Pyrowave intends to raise additional equity funds in the near future through institutional and individual investors in the GreenSky network, including the GreenSky President’s Club, a NACO-registered angel group. About Pyrowave, Inc. Only 8% of plastics generated today will be recycled, yet the costs to haul, store, sort and process are enormous. Using patented microwave pyrolysis technology, Pyrowave places small, modular units directly onsite at both recyclers and producers of plastic waste. Pyrowave expands the range of recyclable materials, reduces logistics costs and produces higher value end products. Pyrowave cares about the environment. Its technology reduces waste landfilling, waste incineration and waste hauling via a net positive energy process. See www.pyrowave.com About GreenSky Capital Inc. GreenSky Capital is a boutique corporate finance advisory firm based in Toronto, delivering customized financial solutions to small and medium sized businesses. GreenSky mandates are long-term partnerships with high growth potential companies and dedicated entrepreneurs where GreenSky supports the execution of strategic transitional events. . As an operator’s investment bank, GreenSky has the ability to bring extensive capital markets experience into a real-world context. See...

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