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Polystyvert is glad to report the closing of an $11M financing round to propel its novel disintegration based reusing innovation for polystyrene. New accomplices Quadriam Investments, Energy Foundry and Transition énergétique Québec, join current accomplices Anges Québec, Anges Québec Capital, and Cycle Capital. Polystyrene has likewise gotten subsidizing and bolster from Sustainable Development Technology Canada (SDTC).
Two new value financial specialists join the organization in this round, Quadriam Investments and Energy Foundry. Quadriam Investments is the family office of Lino A. Saputo, Jr., Chairman, and CEO of Saputo Inc. (TSX: SAP), now one of the best ten dairy processors in the world. Their investment finance is driven by similar estimations of perfection and family soul. Quadriam's investment in this round was made conceivable by the intercession of the Fondation Montréal inc. which put the two organizations in contact.
This financing round comes soon after the announcement of a collaboration agreement between Polystyvert and the Polymers Business unit of Total S.A. (NYSE: TOT) to quicken the commercialization of the organization's innovation.