Bioindustrial Innovation Canada Invests in GreenMantra Technologies Ltd.
With support from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), BIC has continued its mission to support business developers with clean, green and sustainable technologies as part of Canada’s ongoing carbon reduction efforts.
As part of this initiative, BIC has continued its work to assist GreenMantra with the company’s growth plans with a $1-million contribution, which represents the first of BIC’s new scaling investments with support from FedDev Ontario. Along with this investment, BIC has an ongoing project with GreenMantra to continue a path of continuous improvement and optimization of operations. BIC personnel with extensive chemical processing experience are working in close collaboration with the GreenMantra production team on this project.
“Our Government supports BIC’s ongoing work to empower companies with environmentally-friendly solutions for a variety of industries,” said the Honourable Mélanie Joly, Minister of Economic Development and Official Languages. “We are proud to support BIC’s important role in giving companies like GreenMantra the boost they need to scale up. With this support, the innovative recycling company will continue to make our communities cleaner, greener and healthier.”
“GreenMantra is pleased to receive this new contribution from BIC, which will enable us to continue our trajectory of rapid growth in our operations and commercial footprint,” says Jodie Morgan, GreenMantra’s Chief Executive Officer.
“GreenMantra is making a significant impact on the diversion of discarded plastics from landfill as we transform these plastic streams into specialty waxes. BIC has been a key partner along our journey and we are grateful for their confidence and investment in our technology and people.”
“GreenMantra Technologies is an excellent example of how advanced technology can establish a cornerstone of the circular economy and help reduce Canada’s carbon footprint,” says Wayne Maddever, BIC’s Portfolio Manager. “We are pleased to be a part of GreenMantra’s efforts.”
For more information, please contact: Meg Jackson
Marketing and Communications Manager
Bioindustrial Innovation Canada