Tauro Capital Partners are pleased to announce the closing of a seed capital funding round for Newtecpoly Pty Ltd. The participating investor was a strategic investor who will join the board and management team.
Newtecpoly Pty Ltd utilises an elegant technology coined PolyWaste to cost effectively transform low-cost used plastics into a homogeneous substance which can then be extruded into high-quality and affordable plastic products.
The business is a pre-revenue enterprise and Tauro was able to secure the investment at a valuation attractive to the founders. In addition to providing equity capital, the party introduced by Tauro brings to the table decades of relevant management experience. This is a big win for the company.
The money raised in the seed round will allow Newtecpoly to greatly increase production at the Moama plant, further develop the eWoods range of products, and begin the process of locating and commissioning a second plant.