MBA Polymers, a US-based industrial plastics recycling company, has raised $6.6m of an expected $25m round from 11 investors, according to a regulatory filing.
Honeywell Capital Management, an asset manager chaired by New York-listed industrial conglomerate Honeywell International, and Hong Kong-based Less Plastics were in the consortium, along with US bank Citigroup’s Sustainable Development Investments and venture capital firms Doughty Hanson Technology Ventures and Balderton Capital, according to news provider VentureBeat.
Founded in 1994, MBA Polymers previously raised $40m in 2008.