Closed Loop Partners deploys $10M loan to GreenMantra Technologies

Closed Loop Partners, New York City, has deployed a more than $10 million loan to Canadian company GreenMantra Technologies aimed at advancing plastics circularity in North America and financing equipment to increase materials processing at the company’s existing Brantford, Ontario, facility.

This marks the third loan from Closed Loop Infrastructure Group to GreenMantra over the past decade.

According to Closed Loop, the financing is expected to increased GreenMantra’s specialty products output by approximately 50 percent.

"Optimizing plastics recovery in North America requires diversified solutions––including mechanical and molecular recycling technologies in the region,” says Jennifer Louie, managing director of the Closed Loop Infrastructure Group. “These solutions must work collaboratively and meet the standards needed for economic viability, and environmental and human health impact. GreenMantra demonstrates a resilient business model, a technically proven process and a clear path to scale. We look forward to continuously supporting the company as they further their mission to valorize plastic waste otherwise destined for landfills."

Following this investment round, GreenMantra plans to continue pursuing near-term geographic expansion opportunities while scaling product solutions and advancing a circular economy.

"This financing marks a significant acceleration in our work to scale solutions that help ensure hard-to-recycle materials do more for our planet," GreenMantra CEO Domenic Di Mondo says. "With the support of Closed Loop Partners and other investors, we're now expanding commercial capacity for our products to meet growing demand––transforming even more recycled plastics into high-performing materials and keeping valuable resources in circulation."

To learn more about Closed Loop Infrastructure Group or to apply for funding, visit its website.