Israeli startup UBQ Materials, a developer of the leading climate-positive thermoplastic material on the market, announced on Wednesday a significant investment led by TPG Rise, the climate investing strategy of TPG’s global impact investing platform.
The $170 million investment comes shortly after the UN’s Climate Change Conference, COP26, as countries around the globe commit to lowering emissions in a new Global Methane Pledge.
UBQ Materials uses a patented conversion process to turn landfill-destined municipal solid waste, including all organics, into a climate-positive, cost-competitive, and fully recyclable plastic substitute, offering a sustainable alternative to plastic, wood, or concrete.
“In addition to converting municipal waste into functional thermal plastics, UBQ’s material solution is energy efficient, uses no water and produces no effluents,” said Steve Ellis, Co-Managing Partner of The Rise Funds. “UBQ can be utilized in a broad array of industrial and consumer applications. We’re excited to be partnering with management to scale the business globally.”
Currently, over two billion tons of municipal solid waste (MSW) are produced each year globally, more than 70% of which end up in landfills.
Landfills are the third largest human source of methane, a greenhouse gas 80 times more powerful than carbon dioxide over 20 years.