AMP Robotics, the recycling robot technology developer backed by investors like Sequoia Capital and Sidewalk Infrastructure Partners, is close to closing new financings of up to $ 70 million, knowing the company's plans, according to multiple sources.
The new funding speaks to AMP Robotics' continued success in pilot projects and new partnerships that expand the company's operations exponentially.
Earlier this month, the company announced a new deal that was the largest order for its garbage sorting and recycling robots.
This order for 24 machine-learning robot recycling systems from the waste disposal company Waste Connections was proof of the effectiveness of the company's recycling technology.
This is the result of a pilot program earlier this year with an apartment complex in Toronto where tenants of the complex were able to choose a program that shared recycling habits monitored by AMP Robotics with tenants of the building to improve their recycling behavior.
The Potential Benefits of AMP Robotic Machine learning robots are undeniable. The company's technology can sort waste streams in ways that traditional systems never could, at a cost far lower than most waste treatment facilities.
As TechCrunch reported earlier, the tech can tell the difference between high density polyethylene and polyethylene terephthalate, low density polyethylene, polypropylene and polystyrene. The robots can also sort by color, clarity, opacity and shapes like lids, tubs, clamshells and cups – the robots can even identify the brands on the packaging.
AMP robots have been used in North America, Asia and Europe. Recently they were installed in Spain and in the USA in California, Colorado. Florida, Minnesota, Michigan, New York, Texas, Virginia, and Wisconsin.
Earlier this year, AMP Robotics worked with its investor Sidewalk Labs on a pilot program that would provide residents of a single 250-unit apartment building in Toronto with detailed information about their recycling habits. Sidewalk Labs transports the waste to a Canada Fibers material recovery facility, where both Canada Fibers and AMP Robotics employees sort the waste.
Once the waste is categorized, sorted and recorded, Sidewalk communicates with the building's residents about how they are going to conduct their recycling efforts.
Just last November, Denver-based AMP Robotics raised $ 16 million from Sequoia Capital and others to fund the early commercialization of its technology.
As TechCrunch reported at the time, recycling companies used to be able to rely on China to buy up waste streams (regardless of the quality of the material). However, about two years ago, China decided it would no longer serve as the world's garbage dump and set strict standards for the types of raw materials it wanted to get from other countries.
The result was higher costs in recycling facilities, which are now actually needed to sort your waste more effectively. At the time, unemployment rates put pressure on the availability of labor in garbage disposal facilities. In the past year, the COVID-19 pandemic put these recycling and waste treatment plants under even greater pressure, despite being identified as “essential workers”.
In the face of economic realities, recyclers are turning to AMP technology – a combination of computer vision, machine learning, and robotic automation – to improve efficiency in their facilities.
According to Matanya Horowitz, managing director of AMP, the ability of AMP technology to identify waste products in a stream has other advantages.
"We can tell if it's a Coke or Pepsi can or a Starbucks Cup, ”Horowitz told TechCrunch last year. "We are expanding our reporting functions so that employees can align their product with circularity, and this is of great interest to them."
AMP Robotics declined to comment on this article.