Pryme N.V., a Dutch clean technology company, has raised 13 million euros ($14.3 million) in fresh financing.
The investment round was backed by Infinity Recycling, Invest-NL, and LyondellBasell Industries N.V., a chemical industry company.
Pryme will use the funds to expedite the implementation of its pyrolysis process to make a substantial impact in reducing the amount of plastic incinerated or ending up in the environment.
Additionally, the company is also planning to utilize the latest capital to expand its operations further by establishing a second, larger-scale plant, by 2025.