Money moves

Innovative Houston chemicals manufacturing platform provider raises $40M series A

Shreyans Chopra, founder of Mstack, is celebrating the close of his company's $40 million series A. Photo courtesy of Mstack

Houston-based Mstack, whose platform helps manufacturers source specialty chemicals, has raised $40 million in a series A funding round.

Lightspeed Venture Partners and Alpha Wave Incubation led the round, which includes a debt facility from HSBC Innovation Banking and money from several angel investors.

In a news release, Mstack says the infusion of cash will enable it to “double down on its mission to disrupt a historically flawed supply chain for specialty chemicals.”

This “doubling down” will include expansion of Mstack’s footprint in the U.S., Middle East, Latin America, and Asia.

“Geopolitical dynamics pose risks for supply chain disruptions in the global specialty chemicals market,” Bejul Somaia, a partner at Lightspeed, says in a news release.

“With demand for these chemicals growing rapidly, there is a need to increase R&D investments and unlock new pockets of supply,” he adds. “As the first institutional investor in Mstack, we believe that the company has tremendous potential to lead this transformation.”

Mstack, founded in 2022, currently serves four business sectors: oil and gas, coatings, water treatment, and home and personal care. The funding will enable it to move into industry segments such as agrochemicals and pharmaceuticals.

The Mstack platform gives buyers a one-stop shop for sourcing, testing, shipping, delivering, and tracking specialty chemicals.

“This new funding affirms investor confidence in our vision and technology to transform global markets. It enables us to expand geographically and intensify our R&D efforts,” Mstack founder Shreyans Chopra says.

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This article originally ran on InnovationMap.

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A View From HETI

The world is trending toward producing 82 million metric tons of flame-retardant plastic waste by 2030. Photo via Unsplash

Researchers at Rice University have developed a new technique to efficiently recycle electronic waste and harvest critical minerals using rapid heating.

Most electronic devices use flame-retardant plastic. The plastic is formulated from a critical metal called antimony.

However, recapturing antimony is typically a challenging task since it first has to be released from the plastic. As it is released, other compounds can form, such as organic bromides, which are toxic and difficult to capture. However, the organic bromides can also be reused and have applications in industrial chemicals when safely captured.

“Conventionally heating the plastic releases the antimony in a volatile and difficult-to-collect form as well as creating and releasing hazardous organic bromide compounds,” Leo Haoxin Ye, first author of the paper and a graduate student at Rice, said in a news release. “Other options are risky or more impractical, such as using strong acids, organic solvents or multistep treatment options.”

To address this issue, leading Rice chemistry professor James Tour, Ye and their team adapted Tour’s flash Joule heating technique, which heats materials to hundreds of degrees Celsius in milliseconds, according to Rice.

The team ground up flame-retardant plastic waste and placed it between two sheets of electrically heated carbon paper before using what’s known as isothermal-clamped flash Joule heating to release and collect the antimony.

The team found that limiting the time the plastic spent in the high temperature range dramatically reduced the production of the hazardous organic bromide compounds. The plastic remained between 200 degrees and 500 degrees Celsius for only 9.4 milliseconds, according to Rice.

Through the process, the team recovered 90 percent of antimony from tested materials and converted 83 percent of the bromide into hydrogen bromide. Their findings were published this month in the journal Nature Chemical Engineering.

“Isothermal-clamped flash Joule heating could improve the speed, safety and practicality of antimony recovery from discarded flame-retardant plastics,” Tour added in the release. “This represents an important step forward to conserving and reusing our critical antimony supply while also regenerating bromide salts for reuse.”

The study noted that the world is currently trending toward producing 82 million metric tons of flame-retardant plastic waste by 2030, which adds to the fact that e-waste is the fastest-growing solid waste stream in the world.

The research was funded by the Air Force Office of Scientific Research and the U.S. Army Corps of Engineers.

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