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Cyclize, a spin-off from the University of Stuttgart, has raised about $5 million to develop its plasma-based technology for recycling mixed plastic waste. The 6-year-old firm says the process turns plastic waste into synthesis gas, a mixture of carbon monoxide and hydrogen that chemical companies use to produce methanol and other chemicals. Cyclize says its process runs on electricity but can also harness energy contained in plastic waste. It plans to use the funding to build a test facility in a chemical industrial park.
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