Friday, April 1, 2011

KPCB Backs Plastics To Oil Firm

Kleiner Perkins Caufield & Byers has backed a firm developing technology to convert waste plastic to crude oil, Agilyx. The Series B round for Agilyx was worth $22M, and also included Waste Management, Inc. and Total Energy Ventures International. Agilyx is looking to divert the hard to recycle, waste plastic that currently goes into landfills into a viable source of crude oil. More information »