Industry: Clean Technology
Mission: A clean technology company, the first in the world, that upcycles post-consumer and post-industrial recycled plastics. They convert plastics into synthetic polymers and additives that meet specific performance requirements for industrial applications. Endeavoring to close the loop on plastics to be a catalyst for sustainable impact.
What 3 words best describe your company culture?
Gritty, Courageous, Trailblazing
What quote best exemplifies your company?
“Do not go where the path may lead, go instead where there is no path and leave a trail.” ― Ralph Waldo Emerson
How is your product or service having a positive social and/or environmental impact?
GreenMantra has an opportunity to significantly reduce the amount of plastic that ends up in landfills or oceans by transforming waste plastic into value-creating specialty polymers. GreenMantra’s impact stems from its unique advanced recycling technology, which converts post-use plastics such as bottles, plastic films and bags, carpet backing, and other plastic waste items into specialty polymer additives. These additives can be used back into plastic, creating a full circle. Additionally, they can be used in a variety of construction and infrastructure applications like asphalt roofing and roads ― thereby opening up new markets for this plastic waste that would otherwise end up in our environment.
For every 1 ton of GreenMantra products used, we allow our customers to reduce GHG emissions by 2 tons, diverting 1.1 tons of plastic waste from landfills while also reducing our dependency on crude oil. The materials also offset fossil-based polymers, creating a multiplier effect in their ability to drive sustainability and reduce dependency on crude oil.
What is your company’s vision for the future?
GreenMantra currently utilizes three of the six plastic streams as feedstocks on a commercial scale, and earlier this year, we commissioned a demonstration plan to expand our technology to a new stream of plastic waste ― discarded polystyrene (Styrofoam, foam cups, foam packaging, etc.). By redesigning the polystyrene plastic molecule, a novel product is created that can be used in new applications, expanding the addressable market for the resource while in parallel creating demand and value for its collection.
As we expand our technology platform to accommodate new feedstock streams and as we continue to develop demand in current and new end markets, we are expanding the addressable market for plastic waste-derived materials, while in parallel creating demand and value for its collection. In doing so, GreenMantra has a clear opportunity to impact the recycling rates of plastic.
We are quickly outgrowing our current facility and will build additional manufacturing facilities in the coming years. We envision a future where we ― along with other companies who are inspired by our story ― will create additional ways to extract value from waste plastic to enable a truly circular economy, where plastic is recirculated through the economy and our dependency on crude oil as a feedstock for petrochemicals will be greatly or totally diminished.