Closing the Loop and Bringing the Plastics Economy Full Circle in Ontario

Bioindustrial Innovation Canada (BIC) is a nationally focused, not-for-profit business accelerator focused on enabling Canada to become a global leader in sustainable chemistries. This goal is accomplished through BIC's mission to provide critical strategic investment, advice and services to business developers of clean, green and sustainable technologies with a specific focus on the circular economy’s sustainable processes. 

Since BIC’s inception in 2008, 32 supported companies have reduced CO2 emissions by one megaton, more than 5,300 jobs have been created and more than $400 million in third-party investments have been leveraged. 

At the core of BIC’s strategy is the Centre for Commercialization of Sustainable Chemistry Innovation (COMM SCI) that serves small- and medium-sized enterprises (SMEs) by removing barriers to and accelerating the commercialization of their technologies. This support is achieved in two ways: 

• Providing equity investment through its Sustainable Chemistry Alliance Investment Fund (SCA Fund); and 

• Providing advice and strategic assistance related to business success. 

BIC has supported these companies and accomplished these amazing results with Government of Canada funding through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). 

From Investment to Commercial Success 

GreenMantra is a leader in producing value-added polymer additives and other offsets to fossil-derived chemicals from recycled plastics. It is the first company in the world to commercialize molecular recycling of post-consumer and post-industrial plastics to high-value additives. To date, GreenMantra has successfully commercialized various grades of synthetic waxes derived from multiple polymer additives that meet specific performance requirements for application across a wide range of industrial applications. 

Imminent End-of-Life Path to Incredible Full Circular Economic Impact 

Hard-to-recycle plastics are more often destined for landfills or, in some cases, incineration. The environmental impact of greenhouse gas (GHG) emissions from these two end-of-life scenarios is a loss of material and devastation to our environment. This waste-to-diversion imbalance paves a clear path towards environmental degradation yet also holds the opportunity for the growth of novel and innovative clean technologies. 

GreenMantra recognized the opportunity to leverage its innovative technology to up-cycle recovered polystyrene plastic and create a positive impact by reducing GHG emissions, air pollution and landfill diversion, thus advancing a more circular economy where plastics are beneficially reused rather than landfilled. 

As proof of concept, GreenMantra validated its lab scale technology using recycled polystyrene from various foam applications. Once proven successful, it was imperative to scale up its technology to validate the operating parameters and provide sufficient samples for market development and downstream product integration. BIC recognized the opportunity and began working with GreenMantra to support the removal of these critical barriers to commercialization. 

BIC’s support included a thorough due diligence to confirm that GreenMantra’s scale-up project was a good fit for its investment thesis. Additional assistance included providing technical engineering services to GreenMantra’s early-stage team and support for the build out of its pilot facility in Brantford, Ontario. BIC’s business advice supported GreenMantra’s IP strategy by helping it secure a number of patents to further reinforce its market position.  

Providing Critical Investment to Commercialize and Scale 

BIC’s relationship with GreenMantra began with an initial investment in March of 2018. A trusted investor in BIC’s network suggested having a look at GreenMantra’s technology, which led to a total of three investments and three projects over the course of four years.  

Improving Operations through Technical Engineering Support 

BIC’s domain knowledge, investor network, critical business advice and elite engineering support are what sets it apart and allows companies like GreenMantra to scale.  

BIC’s investments and strategic business and engineering support helped GreenMantra by improving its procedures through an overall equipment effectiveness (OEE) process and upgrading its production output through analytical analysis of its operational data. These positive changes allowed GreenMantra to make fundamental improvements in its operations, helping achieve higher production output that increased the overall efficiency and reliability of the plant.  

The successful completion of these three projects resulted in significant production capacity increases, allowing GreenMantra to continue meeting the demand from existing customers as well as growing demand from new markets. 

Ultimate Impact 

In addition to the above success, more than $4 million in capital spent on projects that leveraged local suppliers and trades, as well as a 45% increase in new jobs with the creation of 15 highly skilled jobs including the employment of seven Canadians.  

For more information please contact:  

Meaghan Seagrave Fiona McDonald 
Executive Director Marketing and Communications Manager 
Bioindustrial Innovation Canada Bioindustrial Innovation Canada 
Email: mseagrave@bincanada.ca Email: fmcdonald@bincanada.ca 
 

 
About FedDev Ontario 

For 15 years, the Government of Canada, through FedDev Ontario, has worked to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada’s most populous region. The Agency has delivered impressive results, which can be seen in southern Ontario businesses that are creating innovative technologies, improving productivity, growing revenues, creating jobs, and in the economic advancement of communities across the region. Learn more about the impacts the Agency is having in southern Ontario by exploring our investment profiles, our Southern Ontario Spotlight, and FedDev Ontario’s X, Facebook, Instagram and LinkedIn. 

About GreenMantra Technologies 

GreenMantra is a leader in molecular recycling that transforms recycled plastics into value-creating polymer additives for industrial applications.  

GreenMantra’s mission is to reduce the amount of plastic ending up in landfills or the environment. This commitment to sustainability and collaboration ultimately leads the company to GO FARTHER – BE BETTER – DO GOOD for BIC’s customers’ businesses and the planet.  

Its CERANOVUS® products offer significant performance benefits, while also enhancing the sustainability profile and lowering the carbon footprint of our customers’ products. Follow GreenMantra on LinkedIn. 

About Bioindustrial Innovation Canada (BIC) 

Bioindustrial Innovation Canada (BIC) is a nationally focused not-for-profit business accelerator that provides critical strategic investment, advice, and services to business developers of clean, green, and sustainable technologies.  

BIC focuses on critical strategic capital investment in SMEs with compelling business plans where innovation in science and engineering can bring about major advances in sustainable chemistry. Sustainable chemistry is playing an important role in the development of solutions to the impacts of climate change, peak oil, energy security, the need for safe water and the use of scarce natural resources. The increasing global demand for green and safer products offers the opportunity to create thousands of new jobs for Canadians.