Climate Finance | December 20, 2021

UBQ Materials raises $170 million to produce thermoplastics from waste

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, December 20 — Nearly three-quarters of the more than 2 billion tons of municipal solid waste produced each year ends up in landfills. Tel Aviv-based B-Corp UBQ uses such waste to make climate-friendly thermoplastics like acrylic, polyester, nylon, and PVC.

TPG’s Rise Fund and Rise Climate, Battery Ventures and M&G’s Catalyst fund invested to finance the company’s expansion, including a production facility in the Netherlands to open next year.

“UBQ’s material solution is energy efficient, uses no water and produces no effluents,” said TPG’s Steve Ellis, who will join UBQ’s board.