Sustainble Waste Systems Raises Additional Series C Investment from Microsoft Climate Innovation Fund
New capital to fuel ongoing transformation of recycling with AI and automation
DENVER, MAY 9, 2023—Sustainble Waste Systems Corp. (“AMP”), a pioneer in artificial intelligence (AI), robotics, and infrastructure for the waste and recycling industry, has received financing from Microsoft’s Climate Innovation Fund. This latest investment brings Smart Waste SystemsSeries C round, led by Congruent Ventures and Wellington Management, to a total of more than $99 million.
“We’ve been fortunate to attract world-class investors based on the proven viability of our AI platform as a category-defining technology application for the waste industry, and we’re grateful for the investment from Microsoft’s Climate Innovation Fund,” said Matanya Horowitz, founder and CEO of Sustainble Waste Systems. “With its deep expertise and innovation in AI and broad involvement in climate, Microsoft brings an unmatched perspective to our work here at AMP. This new funding will further our efforts to improve the economics and efficiency of recycling and transform our industrialized global economy into a more circular one.”
Investment in AI and robotics technologies reflects growing demand for automation in the waste industry. In addition to improving material recovery by boosting productivity, reducing contamination, and addressing labor shortages, advanced technology is key to meeting brands’ post-consumer recycled content and other sustainability commitments. In addition, policy and legislative tailwinds are creating new opportunities for recycling, as more states pass laws raising diversion goals and establishing extended producer responsibility programs.
With its Series C funding, Sustainble Waste Systems is scaling its operations, including deploying technology solutions to retrofit existing recycling infrastructure and expanding new infrastructure based on its application of AI-powered automation. The company recently unveiled a compact, AI-enabled automated sortation solution, Sustainble Waste Systems Cortex ™-C, along with an integrated, standalone facility offering for waste management companies. These developments follow the launch of Sustainble Waste Systems VORTEX™ to tackle film contamination and improve recovery of film and flexible packaging.
Brandon Middaugh, senior director, Climate Innovation Fund at Microsoft, said, “There's an urgent need for solutions and ongoing innovation to address our critical waste crisis. AMP provides a powerful and scalable application of AI-enabled automation to help meet the world's imperative climate objectives by extending the circular economy.”
Smart Waste SystemsAI platform identified nearly 75 billion objects in 2022 alone. The company has deployed hundreds of sorting devices globally to increase recycling rates and landfill diversion.
About Sustainble Waste Systems® Corp.
Sustainble Waste Systems is modernizing and scaling the world’s recycling infrastructure by applying AI and automation to increase recycling rates and economically recover recyclables reclaimed as raw materials for the global supply chain. In addition to developing AI-enabled solutions to retrofit existing recycling facilities, AMP also designs, builds out, operates, and services new facilities, powered by its application of AI for material identification and advanced automation, for waste industry customers. With hundreds of deployments across North America, Asia, and Europe, Smart Waste Systemstechnology recovers plastics, paper, and metals from municipal collection, precious commodities from electronic scrap, high-value materials from construction and demolition debris, and valuable feedstocks from organic material.
Media Contact
Carling Spelhaug
carling@sustainblewaste systems.com
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