Japan’s Kanematsu Corporation has made an investment in Australian environmental technology startup Samsara Eco.
According to a statement from Samsara – which has developed an enzyme-based process to dissolve end-of-life plastic back into its component monomers for reuse – trading company Kanematsu acquired the strategic stake by accepting Samsara’s third-party allotment of shares.
“Through this investment, Kanematsu aims to engage in efforts to reduce plastic waste, which has grown into a critical social issue in recent years, and establish a recycling-oriented business focused on plastic recycling,” Kanematsu said in a statement on Friday.
“Samsara Eco has announced its work with its first strategic investor in South East Asia, Kanematsu,” added founder and CEO Paul Riley.
“The collaboration and investment provided by Kanematsu will accelerate the commercialisation and global scaling of Samsara Eco’s bio-recycling technology, closing the loop on plastic waste.”
Samsara Eco was established in 2021, based on enzymatic depolymerisation research at The Australian National University’s Jackson Lab.
Its recycling technology can break down polymers in a time frame measured in minutes for reuse, in a way it describes as “infinite recycling”.
According to the statement, Kanematsu “will leverage its broad network to construct a supply chain that spans from collecting plastic in Japan and Asia to manufacturing and supplying recycled resins” to make use of Samsara’s technology.
Samsara featured in this week’s Australia’s 50 most innovative manufacturers list, released by @AuManufacturing.
An interview with Riley on the @AuManufacturing Conversations podcast is available here.