Aeternal Upcycling develops a hydrogenolysis-based chemical recycling process that converts shredded or pelletized post-consumer plastics into waxes, lubricant base molecules and jet-fuel components. The process operates at lower temperatures than pyrolysis, yields higher selectivity and can achieve about 80%+ conversion to product on clean feedstock. A life-cycle analysis reported roughly 0.25 kg CO2 produced per 1 kg of its oil versus about 1 kg CO2 for Group 3 mineral oils and 2.2 kg CO2 for Group 4 synthetics. Argonne National Laboratory ran an economic analysis projecting about $600 per ton manufacturing cost and end-product values of $1,500–$4,000 per ton. The company was founded by Ryan Hackler and Robert Kennedy out of work at Argonne and is based in Chicago; they are in early discussions to license Argonne-owned IP. Aeternal plans to build a pilot plant funded by a recent DOE grant, expand beyond its current two-person team in 2024, and open pre-seed fundraising in January. Aeternal Upcycling develops a patented hydrogenolysis technology that converts single-use plastic waste into chemicals and higher-value goods such as waxes, surfactants, lubricants, and ingredients for packaging, cosmetics, and home goods. The company positions its process as a way to divert plastic from landfills and incineration while reducing carbon emissions and fossil-fuel dependence to improve the circular carbon economy. Founded in 2022 and operating with ties to Argonne National Laboratory, Aeternal's leadership includes CEO Ryan Hackler, who invented the technology while a fellow in Argonne’s Chain Reaction Innovations program and brings over 20 years of materials-science research experience. Aeternal has worked in close partnership with Argonne and the U.S. Department of Energy and has received funding from ARPA-E. The company plans to scale its process to produce key ingredients for multiple industries and cites the potential to save tens of millions of tons of plastic from landfills and incineration annually. Recent support includes a $25,000 equity and inclusion grant and 12 months of mentorship from Nicor Gas and Evergreen Climate Innovations to support continued development and business growth.

Total raised

$27M

Funding rounds

4

Latest round

Grant

Latest activity

Oct 2023