CEFC backs Samsara Eco and infinite recycling
Summary
The CEFC congratulates Samsara Eco on its Series A raise as it further develops infinite recycling technology to help tackle plastic landfill waste, a major source of emissions. Other co-investors in the round include founding and returning investors; deep tech fund Main Sequence, Woolworths Groups W23 and Clean Energy Finance Corporation (CEFC) Innovation Fund, managed by Virescent Ventures.In partnership with the Australian National University (ANU), Samsara launched last year having developed a new way to infinitely recycle plastic to help end the plastic pollution crisis. Yet, plastic is an environmental disaster, with almost every piece of the nine billion tonnes ever made still on the planet, says Paul Riley, CEO and Founder of Samsara.Samsara serves a solution to the problem. These are exactly the type of ideas and startups we want to help grow and scale.Around the world, legislators have set increasingly high standards to mandate a move towards plastic waste reduction. With breakthrough science, we have developed a new way to break plastic down to its core molecules, which can then be used to recreate brand-new plastic, again and again.Its patented process is carbon-neutral, environmentally friendly and requires nothing more from our planet or everyday consumers (time, energy, resources, money).Samsara is backed by the brightest minds at The Australian National University (ANU), Main Sequence, Woolworths Group, W23, CEFC and Wildcard Ventures.