MacRebur, a UK-based company that uses waste plastics to create strong, longer-lasting roads, has competed its equity crowdfunding run on Seedrs. Originally seeking £590,000, the company closed the initiative with £1,274,140 in funding.
The company, which was a participant of Voom 2016, a contest that was launched by Virgin Media Business and reward-based crowdfunding platform, Crowdfunder UK, stated it holds the UK and European patent on the method and recipe of mixing waste plastics such as bags, bottles, film wrapping, and cups, with bitumen, and its “magic formula,” to produce a new type of asphalt road material. Its first creation was Plasmac.
“MacRebur’s carefully selected plastics, taken from old rubbish, are added into roads to improve strength and durability, whilst reducing the quantity of the oil based bitumen used in a traditional road mix.”
MacRebur reported that accredited testing proved that Plasmac’s mix increased tensile strength by 60%, reduced potholes, reduced rutting, and increased the lifespan of the road. The recipe also uses local waste plastic in local roads, reduces imported bitumen, reduces fossil fuels usage, helps foster a circular economy, and reduces carbon emissions. The company also claimed that that the road mix recipe offers lower raw material costs, reduced road maintenance costs, reduces waste last disposal costs, and higher asset value.
The company is planning to use the funds from the Seedrs initiative to continue expansion.
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