Stillaguamish Tribe to Invest $5 Million in UW Spin-out MicroGREEN Polymers
MicroGREEN Polymers, Inc. announced that the Stillaguamish Tribe of Indians has made a strategic investment of $5 million in MicroGREEN. This round of funding, the first closing in a $20 million round, will enable MicroGREEN to expand its commercial production capabilities to produce a wide range of environmentally responsible cups and trays for consumer use. The Stillaguamish Tribe will also use MicroGREEN’s cups in their Angel of the Winds Casino and other businesses.
The company was founded by graduate researchers at the University of Washington and funded by angel investors and Washington Research Foundation in 2006. The company has developed InCycle plastic cups, trays and other foodservice packaging products.
MicroGREEN is an innovative plastics company that uses its patented Ad-air® technology to create its own InCycle brand of insulating and temperature resistant cups, trays and other items are made from expanded, recycled PET (recycled water bottles). The production process makes PET lightweight without using chemical blowing agents, and because the plastic is not chemically altered, it can be recycled at the end of its life. The technology lowers the raw material cost and reduces the weight of plastic products while improving functionality. By using recycled content and insuring that InCycle products are recyclable, MicroGREEN is contributing to the groundswell of support for #1 PET resin, the most widely recycled plastic in the world.
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