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AMP Robotics’ robotic sortation system can kind out recyclables from materials streams. | Source: AMP Robotics
AMP Robotics, an organization creating robots that may arrange recycling, introduced in $91 million in company fairness in a Series C funding spherical. This brings the corporate’s complete raised funding so far to about $165.5 million.
AMP Cortex, AMP Robotics’ robotic system, can automate the identification and sorting course of for recyclables from blended materials streams. It picks out plastic from different supplies, like cardboard, paper, cans and cartons. AMP Cortex can carry out as much as 80 picks per minute with as much as 99% accuracy.
The high-speed system depends on the AMP Neuron AI platform, which continuously trains itself by studying completely different colours, textures, shapes, sizes, patterns and model labels to higher determine supplies and their recyclability.
AMP Robotics hopes that its system can assist remedy a big subject in recycling. Of the estimated 44 million metric tons of plastic waste managed within the U.S. in 2019, solely about 5% was recycled, based on a report from the Department of Energy. AMP Robotics’ high-speed system may assist kind extra plastics to be recycled.
The firm plans to make use of the funding to scale its enterprise operations, proceed increasing internationally and construct up its manufacturing capability to help a fleet of 275 robots. AMP Robotics additionally hopes to additional drive the expansion of its secondary sortation enterprise within the U.S. with the funding.
“Our focus from the outset has been our application of AI-powered automation to economically and sustainably improve our global recycling system,” Matanya Horowitz, founder and CEO of AMP Robotics, mentioned. “We’ve been fortunate to attract a passionate team, loyal customers, and visionary investors along the way. With this new funding, we’ll accelerate our efforts to modernize and expand our recycling infrastructure, aiding society’s path to a circular economy.”
Congruent Ventures and Wellington Management led the funding spherical. The spherical additionally included participation from new and present buyers, like Blue Earth Capital, Sidewalk Infrastructure Partners (SIP), Tao Capital Partners, XN, Sequoia Capital, GV, Range Ventures and Valor Equity Partners.
“Advancements in robotics and automation are accelerating the transformation of traditional infrastructure, and AMP is seeking to reshape the waste and recycling industries,” Michael DeLucia, sector lead for Climate Investing at Wellington Management, mentioned. “By bringing digital intelligence to the recycling industry, AMP can sort waste streams and extract additional value beyond what is otherwise possible.”
Earlier this yr, AMP Robotics introduced that it was increasing its partnership with Evergreen, a producer of food-grade recycled polyethylene terephthalate (rPET). In March, the businesses introduced that Evergreen was deploying 15 of the corporate’s sorting techniques. Before the announcement, Evergreen had six robots deployed in its Clyde, Ohio facility, six in its Riverside, California facility, and can add three to its Albany, New York facility.