In Israel, lactic acid and polylactic acid startup TripleW has raised $16.5 million to advance the several food waste upgrade projects it has in its pipeline.
Founded in 2016, the company uses microorganisms to ferment food waste into lactic acid, which it then purifies and converts to PLA, a leading bioplastic. It already operates a demonstration-scale facility in Belgium and has partnerships with several Tier 1 waste processors globally.
Before this Series B, TripleW raised $19 million, including major grants from the EU’s Horizon 2020 Program with the Waste2Func consortium, Flanders Innovation & Entrepreneurship, Israel Innovation Authority and the BIRD Foundation.
“This investment is TripleW’s catalyst for explosive growth. We are uniquely positioned to mitigate the effects of climate change by decarbonizing food and plastic waste on a massive scale,” said CEO Tal Shapira.