Greenback Recycling raises £8 million from private investors and the UK government

Greenback Recycling, a London, UK-based produer of an innovative recylcling technology, announced that it completed a funding round of £8 million.

The money was raised from private investors and the British government. Proceeds will be used to finalise the acquisition of ecoVeritas, a packaging compliance company and an investment in Enval, a microwave-induced pyrolysis solution for packaging waste.

Greenback Recycling, founded in 2018 by CEO Philippe von Stauffenberg, is focused on creating certified circular solutions for packaging waste, is developing a distributed, decentralised network of advanced recycling plants near the sources of plastics waste. It purchases the plastics waste from local collectors and sorters to provide feedstock to produce food-grade packaging.

The company leverages its ecoVeritas certification system, which is based on blockchain and AI technologies, to prove the new packaging contains recycled content.