Montréal, April 25th 2016 — The Minister of Energy and Natural Resources and Minister responsible of the “Plan Nord” and Cote-Nord region, Mr. Pierre Arcand, today announced in Montreal, QC, their commitment to $1,089,909 in funding to Pyrowave Inc.,a Montreal-based company, qualified for the Technoclimat Program.
“The Pyrowave technology is the first cost effective solution to recycle mixed plastic wastes. Our unique approach uses a local conversion that unzips plastics back to their initial constituents that can later be re-used to make virgin polymers and packaging”, says Jocelyn Doucet, CEO of Pyrowave. “While we have previously proven the technology at large scale, the support of Technoclimat is essential in building our new model machine and proving we can derive a profitable business model from it.” Pyrowave is currently completing the manufacturing of its second commercial prototype that should be operational by the fall of 2016 at its site located in Valleyfield, Quebec. On average, the technology will reduce emissions by 0.43 tons CO2 equivalent per ton of input and generate a net positive value to users.
Pyrowave’s patented technology uses microwaves to perform fast de-polymerization of mixed plastics with small-scale modular units capable of treating 400-1,200 tons/year on-site. The equipment converts mixed plastics with or without food contamination into predominantly oil containing valuable waxes and monomers. The products are sold to chemical companies that re-use the monomers and waxes for FDA compliant applications and therefore cost effectively closes the loop of polymers life cycle.
“RIC has brought good support to Pyrowave by providing access to market research data as well as mentor advices during its early stages of financing”, says Jocelyn Doucet, CEO of Pyrowave. “Their guidance was certainly part of the success we had during our equity financing and for gaining traction with various government programs.”
Only 8% of plastics generated today are recycled – yet the costs to haul, store, sort and process plastics are enormous. Using patented microwave technology, Pyrowave will place small, modular units directly onsite at recycling facilities and at producers of plastic waste. Pyrowave’s technology will enhance the rate and the range of recyclable materials, reduce logistics costs and produce higher value end products from waste plastics – products such as wax, oil and styrene monomer. Pyrowave will have a significant positive benefit environmentally and economically. Its technology will reduce waste landfilling, waste incineration and waste hauling via a net positive energy process. See www.pyrowave.com.
The program aims to reduce emissions of greenhouse gases and to encourage the development of new technologies or innovative processes for energy efficiency and emerging energy sources. The program provides financial support to project developers who register at various stages of the innovation chain.