The Startup 50 list ranks young companies on two-year revenue growth. GreenMantra Technologies is ranked number 20 on this year's list.
Founded in 2010, GreenMantra converts waste plastics such as film, bottle caps and food containers into synthetic polymers and other specialty chemicals. These materials are manufactured to provide specific performance and processing benefits in various applications in the coatings, plastics processing, adhesives, roofing and paving industries.
"This recognition of our rapid growth by Canadian Business highlights the increasing acceptance of sustainable technologies that can drive value while benefiting the environment and society," says Martin Hudson, vice president of finance for GreenMantra. "Our unique technology is enabling us to capture the hidden value in waste plastics, diverting material from the landfill and ‘upcycling’ it to create useful products for longer life applications. In this manner, we are helping to create a circular economy for plastics where they are beneficially reused rather than discarded."