Investment for thermoplastic process

UBQ Materials, which makes thermoplastic materials, has received $170 million funding from global investors.

The company owns the patent for a conversion process that can turn landfill-destined municipal solid waste (MSW), including organics, into recyclable plastic substitute called UBQ. Currently, over 2 billion tons of MSW are produced annually around the world, more than 70% of which end up in landfills or are openly dumped.

According to UBQ, the material can be used on its own and in conjunction with conventional oil-based resins as a sustainable replacement to plastic, wood or concrete. It is suitable for industries such as construction, automotive, logistics, retail, and even 3D printing.

Following the investment, the company plans to open a large-scale facility in the Netherlands by the end of 2022. Other funds will go into achieving certifications and develop new products.