Clariter

Company Overview

Snapshot

Founded in March 2003 by Ran Sharon, Clariter operates with 51–200 employees. The company has raised $76.2 million across 6 funding rounds. In February 2023, Clariter partnered with TotalEnergies Fluids to produce the first ultra-pure solvents derived from plastic scrap, marking a significant advancement in sustainable petrochemical production.

Business overview

Clariter is a climate tech company focused on chemical recycling to address plastic waste. Its proprietary technology processes various types of plastic, converting them into three primary products: oils, waxes, and solvents, collectively known as ClariProduct. These products serve as alternatives to traditional fossil fuel-derived petrochemicals for over 1,000 industrial and consumer applications. The company operates within the industrial technologies sector, targeting markets such as waste treatment, environmental services, recycling, and industrial manufacturing, particularly in plastics, chemicals, petrochemicals, coatings, packaging, and cosmetics.

Strategic signal

In February 2023, Clariter announced a collaboration with TotalEnergies Fluids to produce ultra-pure solvents from plastic scrap. This partnership is a strong validation of Clariter's chemical recycling technology, demonstrating its capability to generate high-value, sustainable petrochemicals and signaling significant commercial potential and market acceptance for its upcycled products.

Company Intelligence Q&A

What is Clariter's core technology?

Clariter utilizes a patented chemical recycling process that transforms various types of plastic waste into high-value industrial ingredients: oils, waxes, and solvents, collectively known as ClariProduct. This technology allows for the upcycling of plastic without needing to sort by type, color, or rigidity.

What was a key strategic partnership for Clariter in 2023?

In February 2023, Clariter partnered with TotalEnergies Fluids to produce the first ultra-pure solvents made from plastic scrap. This collaboration highlights the commercial viability and quality of Clariter's upcycled products.

What is Clariter's long-term vision for plastic waste recycling?

Clariter aims to recycle 2 million tons of plastic waste by the end of 2028, which is projected to reduce CO2 emissions by nearly 1 million tons and create thousands of new jobs. This expansion is supported by plans to open more factories and license its technology.

What types of products can be made from Clariter's recycled materials?

Clariter's oils, waxes, and solvents can be used in over 1,000 industrial and consumer applications, including scented candles, ink, paint, and various other household products, offering a sustainable alternative to petrochemicals.

What was a significant funding milestone for Clariter?

Clariter has raised a total of $76.2 million across 6 funding rounds. The company secured its latest convertible debt funding round in December 2023.