Thursday, June 12, 2008

ECO2 Plastics Raises $6.5M In PIPE

San Francisco-based ECO2 Plastics, an over the counter-traded firm focused on PET plastic recycling, said Wednesday that the firm hsa raised $6.5M in funding from venture capital firm Trident Capital. The deal also included investments from a group of investors led by Thompson Hutton LLC. According to ECO2 Plastics, the funding also included conversion of over $6M in short term notes and accrued interest in the firm by existing investors. The firm said the funding will go towards constructino of processing equipment for the firm and to strengthen its balance sheet. More information »