A local “company of the future” is getting a leg up thanks to a $750,000 investment from the federal government.
GreenMantra Technologies will receive up to that amount through FedDev Ontario’s investing in business innovation initiative to complete final commercialization testing of technology that produces industrial waxes from recycled products.
“Our process provides a beneficial reuse for recycled plastics by transforming them into industrial waxes,” said Green Mantra CEO Pushkar Kumar. “Our waxes meet specifications for roads, tires, wood products and polishes.”
Brant MP Phil McColeman announced the funding on Friday morning at the Green Mantra facility on Elgin Street, calling the business “progressive” and “a company of the future.”