ImpactAlpha, November 29 — San Jose, Costa Rica-based Center for Regenerative Design and Collaboration has patented a process that converts hard-to-recycle plastic into RESIN8, a low-carbon additive it says can be used to produce asphalt, cement and concrete.
“CRDC’s potential to remove plastic waste from where it is rampant and convert it into a viable commercial product that reduces the carbon footprint of the building industry was something I felt compelled to support,” said Meg Arnold, one of seven members of the investing network Toniic that participated in a $1 million special purpose vehicle, or SPV, to back CRDC as part of CRDC’s $3.3 million seed round.
Crowd investors
The SPV was created using a low-cost structure, said Toniic’s Jeff Sobel. That allowed the group’s investor community of high-net-worth individuals, family offices and foundations to invest in CRDC at ticket sizes below the required minimum. CRDC has sold RESIN8 to concrete manufacturers to create buildings and roads in Costa Rica, South Africa, Australia and the US. CRDC’s flagship plant in Costa Rica produces 20 tons of RESIN8 per week.
