Eden Global Partners

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♻️ UBQ Materials Raises $70 Million in Funding, Led by Eden Global Partners

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: UBQ Materials, Eden Global Partners, Battery Ventures

UBQ Materials, climate tech developer of advanced materials made from waste, announced it has closed $70 million in funding, led by Eden Global Partners. Additional participants in the financing were return investors in the company, including TPG Rise Climate, TPG’s Rise Fund, Battery Ventures, and M&G’s Catalyst strategy.

The investment will support the company’s commercial, sales, and marketing scale up, as UBQ Materials continues its global expansion. This will include additional facilities in Europe and North America, alongside the impending opening of UBQ’s industrial-scale facility in Bergen Op Zoom, Netherlands. The new facility will have an annual production capacity of 80,000 tons of UBQ™, converting 104,600 metric tons of waste annually into a new raw material.

UBQ Materials’ bio-based thermoplastic, UBQ™, serves as a sustainable alternative to fossil-based plastics. UBQ Materials converts residual household waste diverted from landfills or incineration, including all organics, into an advanced thermoplastic material that is both climate-positive and highly recyclable. Leading industry brands have already integrated UBQ™ into durable and semi-durable products such as car parts, footwear, pallets, display stands, panels and planters, with customers including Mercedes-Benz, PepsiCo, and McDonald’s.

Read more at PR Newswire