BRANTFORD, Ont.—A Canadian cleantech company is scaling up and working to boost efficiency at its Brantford, Ont. plant with the help of $600,000 in funding from FedDev Ontario.
GreenMantra Recycling Technologies Ltd., which makes a range of wax products from recycled plastics, is launching an expansion project to automate a larger portion of its operations and increase production of its Ceranovus A-Series waxes.
“[FedDev Ontario,] along with our other investors, are helping us to continue our rapid growth in producing high quality specialty chemical products from hard-to-recycle plastic feedstocks,” Kousay Said, the company’s president and CEO, said.
GreenMantra’s wax manufacturing process emits approximately 50 per cent less greenhouse gas than traditional fossil fuel-based production while increasing the demand for recycled plastics.
The company’s expansion project, which includes the implementation of a resource planning system, will create 25 new jobs.
The federal funding is expected to spur a further $1.2 million investment in GreenMantra from Angel Investors led by Arctern Ventures and Cycle Capital.