Sortera Technologies Inc.,the market leading aluminium sorting company with an upcycling platform powered by artificial intelligence, data analytics and advanced sensors, today announced the close of USD 45 million in funding led by accounts advised by T. Rowe Price Associates and VXI Capital, with participation from Yamaha Motor Ventures and Overlay Capital; with an additional equipment funding from Trinity Capital. This funding fuels Sortera’s next phase of growth as a major domestic supplier of metals upcycled from waste. In addition to the funding, Sortera is announcing plans for its second state-of-the-art processing facility in Lebanon, Tennessee. This expansion, driven by overwhelming demand and success at the flagship Markle, Indiana facility, will bring Sortera’s innovative recycling solutions closer to its growing customer base.
Sortera Technologies is changing the way the world recycles aluminium. Using artificial intelligence and advanced sensors, the company sorts mixed aluminium scrap into specific alloys that can replace imported primary aluminium. Sortera brings new life to old metal. Since launching operations at its 200,000 sq. ft. Markle facility in Q1 2023, Sortera has experienced significant customer demand for its high-quality recycled aluminium alloys.
Sortera is now the only company producing end-of-life recycled aluminium products, including 380, 356, 319 and wrought (3105 and others). Each product is specifically designed to match the chemistry of common casting and rolling alloys. Sortera also produces low-silicon wrought packages and polished end-of-life aluminium die cast for direct use in 380 applications. The Markle facility demonstrates Sortera’s technological success at transforming mixed alloy scrap, historically downgraded or shipped overseas into high-value materials for critical applications in the automotive, construction and aerospace industries.
“The performance of our Markle facility and the enthusiastic response from our customers have made it clear: the domestic market is hungry for sustainable, high-quality recycled aluminium,” said Michael Siemer, CEO of Sortera Technologies. “The robust investor confidence that powered this funding, coupled with the proven customer demand that necessitates our expansion into Tennessee, is a direct result of this success. This expansion allows us to significantly increase our capacity and establish a presence closer to many of our key customers, particularly in the automotive sector, further streamlining supply chains and enhancing our service capabilities.”
