GreenMantra: Disrupting the Wax Industry — One Plastic Bottle at a Time
Change in the wax industry has been about as fast as a melting candle. Wax, a broad industrial input, has traditionally been produced as a by-product of large-scale petroleum refining or more recently, in multibillion Fisher-Tropsch based facilities. Wax then proceeds through a series of blenders and distributors until it finally reaches the customer. GreenMantra turns this traditional value chain upside down. GreenMantra can locate small modular wax production facilities at or near the customer site and feed the process with local inputs — waste plastic. GreenMantra’s patent process can fine tune the wax characteristics to deliver the wax to exacting customer expectations, and deliver it warm with minimal reheating required.
Unlike many waste-to-value businesses we evaluated, GreenMantra does not require subsidies or tipping fees. It can pay full market price for cleaned and sorted waste plastic as its process is highly efficient (>95% conversion) and its output has very attractive gross margins. Many competitors have sought to convert waste plastic to valuable petroleum products, but most have failed as they cannot produce a single high value output (tight range of carbon chains). They typically produce a carbon soup that must be further refined (at a high cost). GreenMantra’s advanced process can tightly control the depolymerization process to convert all input plastic to a narrow range of carbon chain lengths (a single market ready output — wax); and further, can adjust the process to fine tune the specific type of wax output.
We are committed to finding profitable ways to deal with our planet’s rapidly growing mountain of waste. Globally, we produce 300 million tons of plastic annually — only 8% is recycled. Of course, that does not include the estimated 100 million tons floating in our oceans. A plastic milk jug that goes to landfill can take up to 1 million years to decompose.
The GreenMantra team, which includes Brandon Moffatt, the lead engineer that built StormFisher Biogas, and Tim Haig, the former CEO of BIOX (TSX: BX), share our passion for creating value from waste and have convinced many leading industrial consumers that the future of wax is sustainable.
Originally posted Jan 15, 2014 on the ArcternVentures.com