MacroCycle, a startup founded by Stwart Peña Feliz and Jan-Georg Rosenboom, is revolutionizing the plastic recycling industry. With their patented Technology, they are able to upcycle plastic waste of any quality to virgin grade plastic with zero carbon emissions.
The startup has secured $4.0 million in funding, including $0.5 million in non-dilutive funds and $3.5 million in dilutive funds. The founders were motivated to launch this venture after realizing the environmental impact of traditional plastic recycling methods.
One of their biggest accomplishments was being accepted as Breakthrough Energy Fellows, a climate innovation accelerator founded by Bill Gates. They were awarded a $0.5 million grant to scale up their technology, solidifying their position as pioneers in the industry.
Funding was a significant challenge for the founders, who relied on non-dilutive sources before raising investments. They credit the MIT entrepreneurial ecosystem for providing opportunities to win pitch competitions and secure grants.
The Sloan MBA program played a crucial role in equipping the founders with the necessary skills and resources to lead their venture. The Climate & Energy Ventures class at MIT Sloan, in particular, facilitated diverse thinking and collaboration, ultimately leading to the creation of MacroCycle.
The startup is driven by the mission to become the largest producer of PET plastics through their upcycled, zero-carbon emission technology. They envision a society where plastic can be beneficial without harming the planet or its inhabitants.
Boston’s startup ecosystem, especially within the subset of HardTech, has significantly contributed to MacroCycle’s development and success. The abundance of mentors, competitions, programs, and venture capital firms have been instrumental in their growth.
In the long term, MacroCycle aims to eliminate the harmful effects of plastic and create a sustainable solution for plastic production. Their innovative technology has the potential to transform the plastic industry, addressing its environmental impact and contributing to a greener future.
The history of plastic recycling can be traced back to the early 1970s when the modern recycling movement gained momentum. Since then, efforts to develop more sustainable recycling methods have been ongoing, culminating in the innovative solutions offered by startups like MacroCycle. As the world continues to grapple with environmental challenges, the work of pioneering companies in the recycling industry is crucial for a more sustainable future.
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