Sortera Technologies, an innovative material sorting company, has successfully closed a Series C funding round, securing $30.5 million in funding. This round was led by RA Capital Management-Planetary Health and saw participation from several prominent investors, including T. Rowe Price Associates, Inc., the Mineral Resources Group (part of Mitsubishi Corporation), and Macquarie GIG Energy Transition Solutions (MGETS).
Existing investors like Assembly Ventures, Breakthrough Energy Ventures, and Chrysalix also contributed to this funding. The influx of capital will be instrumental in further establishing Sortera as a significant player in the recycling industry, particularly in the domestic upcycling sector.
Sortera Technologies distinguishes itself through its recycling platform powered by artificial intelligence, data analytics, and advanced sensors. In just two and a half years of operation, the company has demonstrated its ability to accurately and rapidly sort complex materials, including pre-production aluminium and end-of-life mixed metals. The company’s first full-scale facility, located in Markle, Indiana, is on track to handle up to 220 million pounds of mixed metals annually. By sorting these mixed metals into single alloy streams, Sortera enables increased use of recycled materials in manufacturing, reduces the costs of metals production, enhances the availability of metals for domestic manufacturers, and decreases pollution and greenhouse gas emissions related to virgin metals production.
The high-quality upcycled materials produced by Sortera will re-enter the U.S. market, contributing significantly to the circular economy movement and domestic resource security. The Series C funds will be used to expand Sortera’s operations across North America and accelerate growth within the metals and recycling markets, which have a combined value of over $1 trillion.
Sortera is also investing in research and development, with a facility established in Austin, Texas, to further advance its sorting platform using advanced sensors and artificial intelligence. The company aims to transform the recycling industry, with a particular focus on sustainability in the upcycling sector and intends to build a network of world-class sorting and processing facilities. By leveraging its technology, Sortera can capitalize on domestic feedstocks that have traditionally been exported for recycling into lower-grade materials. The company plans to expand its capabilities to handle various recyclable materials critical to the future growth of the economy.
Sortera’s Markle, Indiana plant is expected to be fully operational in 2023, significantly increasing the company’s processing capacity to handle 220 million pounds of mixed aluminium scrap annually. This facility will help reduce the export of scrap aluminium abroad, which has been a common practice, thereby contributing to environmental goals and sustainability efforts. Sortera Technologies is committed to revolutionizing the recycling industry and creating a more sustainable future by leveraging the latest advancements in artificial intelligence and automation. Recently, the company changed its name from Sortera Alloys to Sortera Technologies to reflect its expanded focus on working with upcyclable materials beyond metal alloys.
