A company called AMP Robotics raised $91 million in a new round of funding. In this new round, AMP Robotics has managed to attract many investors. This new round is the second one AMP Robotics has received this year for an amount of 55 million dollars.
AMP Robotics will use the latest funding to expand its business operations as it continues its international expansion. Demand for robots to retrofit existing recycling infrastructures continues to grow; amid historical demand for recycled products of all types, the industry needs capacity to meet the 2025 targets of consumer packaged goods companies that have committed to using post-consumer recycled content (PCR).
In this regard, Matanya Horowitz, the founder and CEO of AMP Robotics, noted that his company has a focus on improving its global operations using technology automated by AI. “We have been fortunate to attract a passionate team, loyal customers and visionary investors along the way. With this new funding, we will accelerate our efforts to modernize and expand our recycling infrastructure, helping society’s journey to a circular economy,” added Horowitz.
Of the estimated 44 million metric tons of plastic waste managed nationally in 2019, approximately 86% was landfilled, 9% was burned and 5% was recycled, according to a recent Ministry of Energy report on plastics “AMP Robotics’ technology is rewriting the economics of recycling, marrying purpose with profit for our recycling partners.”says Abe Yokell, co-founder and managing partner of Congruent Ventures. “It is a privilege to be able to support such a mission-driven team as they have grown from an eight-person operation to an industry leader,” he continued.
“We look forward to supporting the AMP team in scaling up cost-effective waste management solutions for the circular economy using technology, efficiency and automation,” noted Kayode Akinola, head of private equity at Blue Earth Capital. “AMP is helping to promote emissions reductions and resource efficiency while meeting a growing demand for recycled materials,” he added.
NOVELIS BREAKS GROUND FOR ALUMINUM RECYCLING CENTER IN SOUTH KOREA
NOVELIS SPENDS $30 MILLION TO MEET DEMAND FOR RECYCLED ALUMINUM COFFEE CAPSULES
ECOVADIS RAISES $500 MILLION AFTER SUCCESSFUL COMPLETION OF ITS LATEST FINANCING ROUND
MANNA CAPITAL PARTNERS WITH BALL CORPORATION TO IMPROVE ALUMINUM CAN SHEET RECYCLING
SALVACO RAISES 2.5 MILLION POUNDS IN ITS LAST ROUND OF INVESTMENTS
NOVELIS INVESTS MORE THAN 30 MILLION DOLLARS TO MEET DEMAND FOR COFFEE CAPSULES MADE FROM RECYCLED ALUMINUM
NOVELIS ANNOUNCES $30 MILLION INVESTMENT TO MEET HIGH DEMAND FOR RECYCLED ALUMINUM COFFEE CAPSULES
NOVELIS TO SPEND $50 MILLION ON NEW SMELTING AND RECYCLING CENTER IN SOUTH KOREA
GEL Recycling upgrades capture equipment to reach 3.5 million cans recycled at Florida plant
