Date: Sep 02, 2013 Author: Ben Miller Source: bizjournals (
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Ben Miller
Contributing Editor- Puget Sound Business Journal
Microgreen Polymers Inc., an Arlington company that's making recyclable plastic cups, said it raised $10 million in a latest round of financing.
The $10 million round was led by the Confederated Tribes of Grand Ronde, based in Grand Ronde, Ore. The financing comes on top of The Stillaguamish Tribe of Indians' January investment of $5 million.
Microgreen Polymers said it's now raised a total of $42 million.
"The new investment will help Microgreen extend its commercial production capabilities to meet demand of current orders and tool up to manufacture a complete family of recyclable hot and cold cups for consumer use. Microgreen also intends to finance $8 million worth of production equipment to integrate manufacturing and fulfill its strategic business objectives," Microgreen said in a statement.
Microgreen is a University of Washington spin out that's pioneering a new method for reducing the amount of plastic used in consumer products like coffee cups and building materials.
