We are thrilled to announce our investment in Australian-based Samsara Eco’s USD$65M Series A+ round to help end plastic waste, alongside many impressive financial investors, as well as lululemon, and Hitachi Ventures. The enviro-tech innovator utilizes an innovative, enzyme-based technology to indefinitely recycle plastics, significantly aiding in the reduction of plastic creation and carbon emissions.
A recent analysis by Lawrence Berkeley National Laboratory found that by the middle of the century, global emissions from plastic production could triple to account for one-fifth of the Earth’s remaining carbon budget. We all know plastics are so useful, yet to quote the study, they are “undermining the world’s efforts to address climate change.” The report found that plastic creation generated 2.24 gigatons of planet-heating pollution in 2019, or as much as 600 coal-fired power plants. That year, it accounted for 5% of all global carbon emissions, 12% of the world’s oil demand and 8.5% of gas demand.
Founded in 2021, Samsara Eco is revolutionizing the plastic pollution epidemic through advanced technology that can break down plastics into their fundamental molecular components, facilitating the creation of new plastic products. Samsara Eco has developed an impressive AI-based approach to enzyme development, with extremely compelling results. Samsara Eco can take on the challenges that stymie other recyclers, such as managing contaminants, dyes, mixed plastics, and more. Their technology selectively processes various components on a molecular scale.
Samsara Eco has led world-first innovations in infinite recycling, pioneering the ability to recycle plastics including nylon 6,6 and polyester. Earlier this year, in partnership with its first textile partner, Samsara Eco unveiled the world’s first enzymatically recycled nylon 6,6 product (sweat jackets which we bought online!) and also helped to introduce lululemon’s first product made from enzymatically recycled polyester. Whilst I write this, I am wearing one of the first jackets in the world that has been recycled!
Samsara Eco’s patented recycling technology, EosEco™ uses a combination of biophysics, chemistry, biology and computer science (such as AI) to create a family of plastic-eating enzymes. The enzymes break down plastic waste (like textiles made from nylon and polyester) into raw materials, which are then seamlessly integrated into existing manufacturing processes to make new products.
Samsara Eco’s plans to scale its technologies to infinitely recycle all forms of plastics, which can be used within existing cross-sector supply chains like in apparel, consumer packaged goods, automotive and electronics.
Our reasons for investing in Samsara Eco are straightforward:
- The Samsara Eco team is exceptionally talented, combining many difficult to replicate skill sets under the guidance of Paul Riley.
- Efficient plastic recycling is an enormous, unresolved issue globally with 9B tonnes accumulated and Samsara Eco is a clear leader in infinite plastic recycling with accomplishments no-one else has achieved to date.
- The company has had buy-in from some of the biggest businesses in the sectors it targets and their process can be integrated into existing supply chains seamlessly. We believe Samsara Eco is incredibly well positioned to scale globally.
- We believe that no other entity has developed a process as energy-efficient, simple and robust as Samsara Eco’s.
- Samsara Eco has considerable Intellectual Property, covering their unique process and library of synthetic enzymes.
Samsara Eco’s solution for plastic recycling has tremendous market potential and the solutions demonstrated to date have been incredibly exciting. With plastic production figures hitting 400M tons annually, and the climate crisis intensifying, immediate solutions are critical. Today’s recycling methods of down-cycling only save around 9% of plastics and weaken and discolor the plastic. With their technological breakthrough enabling infinite recycling for the first time, Samsara Eco stands out as a critical climate technology. We’re excited to see the impact they will have in the years to come.