TEL-AVIV, Israel, Oct. 1, 2020 /PRNewswire/ -- A-Labs Advisory & Finance Ltd. ("A-Labs" or the "Company") announce the successful closing of $3M in pre-IPO funding (the "Round") for the innovative plastic recycling company of Alkemy (formerly K.B Recycling Ltd.). The closing marks the last round of funding before Alkemy heads toward its planned IPO on the Toronto Stock Exchange Ventures (TSXv). Alkemy is mutually owned by Sullam Holdings Ltd (Lenny Recanati) and Tedea Ltd. (TASE: TEDE). The use of proceeds from the round aims to establish two global recycling partnerships and promote further improvement of Alkemy's recycling process efficiency. The planned IPO aims to provide Alkemy with sufficient capital for global deployments of its recycling factories on plastic dumping sites worldwide.
After securing $10M funding to date and developing its solution for the past 4 years, Alkemy presents cutting edge recycling technology supported by major global players in greentech and recycling globally. Alkemy already signed two MOUs toward upcoming implementation of its technology in collaborations with leading organizations in France and Germany.
Unrecycled plastic still looms large as one of the most harmful polluters globally, and plastic-film waste (such as plastic bags) used by most households and agricultural ventures tops the unrecycled-plastic chart. Only 9% of the world's plastic is recycled. The rest is burned or buried—two actions that raise earth's pollution levels dramatically. Alkemy attacks the challenge of recycling previously unrecyclable plastic head on, from national waste collection to manufacturing finished products based on its recycled material.
Alkemy's uniquely continuous one-step process, "from waste to product", tackles the challenge of recycling dirty plastic head on, Alkemy's process turns previously unrecyclable plastic into raw material, enabling the production of plastic products at significantly reduced costs while reducing energy consumption, pollution, and waste of resources.
"The environmental and social impact of Alkemy's project are far-reaching and essential for all of us," says Noah Hershcoviz, Managing partner at A-LABS. "Alkmey addresses the elephant in the room that no one is talking about. They literally found a way to make dirty plastic recycling economically viable so there are no excuses for the continuous addition of plastic that pollutes our planet. Our work with Alkemy is aimed to launch a successful public offering in the Toronto Stock Exchange to turn their vision into a global reality."
"A-Labs have built and executed on both strategy and workplan for Alkemy's growth," says Shmulik Porre, Alkemy CEO. "From branding to financial models and business development, we were amazed to see the level of intimate involvement and understanding of our business within the A-Labs team. We see them as an integral part of our management, as well as the path toward a better future for our planet and generations to come."
About A-Labs Advisory & Finance Ltd.
A-Labs is a private corporate advisory and finance firm that offers a new breed of banking that focuses on identifying the next generation of unicorns and helping them, hands-on, in managing their business towards high-quality, sustainable IPOs or M&As. A-Labs operates under a mandate allowing it to become a direct extension of the client's management team for all necessary company functions such as strategic marketing, branding, financial models, product design, business development, sales, marcom, public relations, investors relations and predominantly managing "the day after" for long term growth and strategic vision development.
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SOURCE A-Labs Advisory & Finance Ltd.