Protein Evolution, Inc. (PEI) has helped the chemical industry make the shift to a circular economy with lower carbon emissions by introducing ground-breaking technology that turns textile and mixed-plastic waste into an endlessly reusable resource.
The company creates enzymes that decompose end-of-life textile and plastic waste into the components that go into new textile and plastic products by utilizing recent advances in natural science and artificial intelligence. A cost-effective solution with immediate applications for the petrochemical industry, multinational consumer goods companies, textile manufacturers, and others who are looking to significantly reduce their reliance on fossil fuels has been created by PEI's proprietary process, which is the first of its kind to be built to scale.
A renowned entrepreneur and an influential businessperson provided more than $20 million of Protein Evolution's initial funding. Collaborative Fund's recently unveiled climate fund, Collab SOS, which is collaborating with legendary fashion designer and pioneer of sustainable materials Stella McCartney, took the lead in the fundraising round. Additional money was provided by Good Friends, which is supported by the creators of Warby Parker, Allbirds, and Harry's, as well as New Climate Ventures, Eldridge, Nextrans, and Good.
Connor Lynn, PEI Co-Founder and Chief Business Officer, said that despite considerable and strong industry pledges toward sustainability, the existing method of plastic recycling is costly, unproductive, and resource-intensive. One of the numerous reasons why wasted plastic is stacking up in our oceans, landfills, and incinerators is because it is currently much less expensive for petrochemical corporations to make new, or "virgin," plastics than it is to recycle existing ones. A low-energy, affordable technology for upcycling completed plastics has been developed by PEI, and it is positioned to address industry issues as well as provide significant environmental advantages. A new era of plastics that is genuinely sustainable and circular is something they are actively pursuing.
Corporate partner at Collaborative Fund and PEI Board Member Sophie Bakalar asserts that "corporations, and the activities they take now, play a vital influence in setting the trajectory of the climate future." "The technology Protein Evolution has created enables the biggest consumer companies in the world to fulfill sustainability goals at scale, without sacrificing cost or material quality. We have a fantastic opportunity to support an innovator who will soon become a key figure in the global bioeconomy through our investment in PEI.
Tens of millions of different enzymes are tested, evaluated, and mapped using Protein Evolution's technology in order to determine the most efficient method of turning waste materials into usable compounds. The chemicals sector will benefit from this strategy's decarbonization, and it will have a big impact on the developing bioeconomy as businesses, communities, and governments must now and in the future meet the goals of the United Nations' Sustainable Development Goals.
Scott Stankey, co-founder and CTO of PEI, said that nature has already developed a microbe that can degrade plastic for recycling without producing emissions, but it moves very slowly. They would have something lot more effective if we had a few million years to wait for evolution to complete its course. Their technique allows them to build an affordable, scalable and effective solution to revolutionize the plastic waste industry.
Jonathan Rothberg, co-founder and chairman of Protein Evolution, said that as the bioeconomy continues to grow and scaling biomanufacturing continues to become more crucial to support that growth, it is clear that the work Protein Evolution is doing will help lay the foundation for the future of synthetic biology. At 4Catalyzer, they've developed a number of health technology "firsts" with the goal of assisting in the healing of the individuals they care about. He is immensely pleased with the work the Protein Evolution team has done to use 4Catalyzer's strengths in artificial intelligence and synthetic biology to aid in the recovery of the planet that we all depend on and love.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
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