Tuesday, October 15, 2013
Newlight Gets Investment From Private Equity Investor
Irvine-based Newlight, a company developing technology which turns greenhouse gases into plastic, has raised an additional funding from private equity investor METRIX Capital Group. Size of the investment was not disclosed, however, METRIX said it doubled its stake in Newlight last week. Newlight's technology uses processes to turn carbon dioxide from methane-based biogas and rich CO2 environments, and converts those into thermoplastic polymers, which the company says matches the performance of similar oil-based plastics. The company's team includes a significant number of scientists from Dow Chemical, along with others.