AMP ONE is designed to capture billions of dollars in value otherwise lost to landfills or incineration annually. Source: AMP Robotics
AMP Robotics Corp. today said it has raised $91 million in corporate equity in a Series D financing. The Louisville, Colo.-based company plans to use its latest funding to accelerate deployment of its AMP ONE systems, which uses artificial intelligence and robotics to sort municipal solid waste, or MSW.
“Recycling rates have stagnated in the United States, despite the positive benefits recycling offers local economies and the environment,” said Matanya Horowitz, founder of AMP. “This latest investment enables us to tackle larger projects and deliver real outcomes for waste companies and municipalities – by lowering sortation costs, capturing more material value, diverting organic waste, and extending landfill life – all while helping the industry optimize its strategic assets.”
Founded in 2014, AMP Robotics said its AI platform has identified 150 billion items and guided the sortation of more than 2.5 million tons of recyclables. The company said its technology can help modernize and change the economics of resource recovery. It has three full-scale facilities and more than 400 AI systems deployed across North America, Asia, and Europe.
From sortation to AMP ONE
AMP Robotics said its AI uses deep learning to continuously train itself by processing millions of material images into data. The software uses pattern recognition of colors, textures, shapes, sizes, and logos to identify recyclables and contaminants in real time, enabling new offtake chemistries and capabilities, it added.
The company noted that its first products were a series of sorting robots deployed with minimal retrofit into existing recycling facilities. AMP then developed facilities that it claimed involve almost no manual sorting, are reliable, and provide “pervasive data.”
“These facilities make the recovery of commodities safer and more cost-effective than ever and have grown to encompass MSW sorting, an offering out of reach to the industry prior to the advent of AMP’s technology,” it said. “AMP ONE provides a full-scale facility solution to sort various material streams and capture more of the billions of dollars in value otherwise lost to landfills or incinerated annually.”
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AMP Robotics marks recent deployments, new CEO
Recycling and Disposal Solutions demonstrated AMP ONE’s ability to cost-effectively sort MWS at its facility in Portsmouth, Va. It has processed 150 tons per day of local waste with more than 90% uptime, said the company.
Last month, AMP Robotics entered into an agreement with Waste Connections Inc. to equip and operate one of Waste Connections’ single-stream recycling facilities in Colorado.
“AMP provides meaningfully lower-cost, higher-performance systems to recover commodities and increase landfill diversion, and we’re uniquely positioned to reshape the waste and recycling landscape at a critical time,” said Tim Stuart, CEO of AMP. “We’re grateful to our longstanding and newest investors for their support in helping us chart a new path for sustainable materials management and resource efficiency.”
AMP last month augmented its leadership team with the appointment of Stuart, former chief operating officer for Republic Services Inc. Horowitz transitioned from CEO into the role of chief technology officer.
Congruent Ventures leads round
Congruent Ventures led AMP Robotics’ Series D round. Current and new investors participated, including Sequoia Capital, XN, Blue Earth Capital, Liberty Mutual Investments, California State Teachers Retirement System (CalSTRS), Wellington Management, Range Ventures, and Tao Capital Partners.
“AMP’s AI sortation systems enable consumers to recycle both with and without curbside separation and communities to benefit from the recovery of recycled commodities while reducing dependence on landfills,” added Abe Yokell, co-founder and managing partner of Congruent Ventures. “AMP is an example of the real-world impacts of AI; solutions like AMP’s will divert billions of tons of recyclable material from landfills while reducing emissions.”
Congruent Ventures is a leading early-stage venture firm focused on partnering with entrepreneurs to build companies addressing climate and sustainability challenges. The firm has more than $1 billion in assets under management across early-stage climate tech funds and 59 companies in its portfolio.
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Of course it all depends on the economics and gate fees (income from processing fees and product sales) vs costs. That is where MRA comes in.
Hope to hear from you.