Sustonable gets major investment; building a factory in Turkey
Speaking of HTXL, yet another alumnus of the startup accelerator is in the mega-growth mode. On Tuesday, 18 February, Sustonable announced a major investment from Ankara, Turkey-based Gülermak Heavy Industries, through its strategic investment group Shibumi International.
Sustonable, now based in Amsterdam, is a building-materials company producing composite stone from recycled PET waste and quartz. The substantial investment allows Sustonable to begin large-scale production and move into the global marketplace, according to a media release.
With this new investment, Sustonable is now installing a large-scale production line in Polatli, Turkey, southwest of Ankara, with the support of Gülermak. This production line has the capacity to produce several hundred thousand square meters of material per year, according to the release. Sustonable is now setting up the distribution network and infrastructure required to service its launching customers.
A personal note: Dispatches was there at the March 2017 XL Demo Day event when Sustonable received about 350,000 euros in funding.
Four years ago, we knew this was a winning technology at just the right time. Sustonable uses recycled plastic bottles made from polyethylene terephthalate, or PET, a synthetic fibre that is highly suitable for recycling. Thanks to that, the material is 100 percent recyclable, which contributes to the circular economy.
Talk about building tomorrow’s companies today ….
Big changes at Usono, High Tech Campus Eindhoven
Victor Donker, one of the three Usono founders, will be new marketing manager for High Tech Campus Eindhoven starting in March. Donker founded Usono, which makes devices that hold ultrasound equipment in place, with Benjamin Tchang and Jori Verbeek back in 2016.
So, what happens to Usono? Well, it’s still going and they just sold a Profix Dynamic device to Liverpool FC. As of mid-February, there are multiple possible outcomes for Usono, but the team will still be devoting one day per week to servicing new orders, Victor said.
He sent us this statement:
I’m proud to share that I’ll start as Marketing Manager of High Tech Campus Eindhoven! Our company started at this great location, the smartest square kilometer in Europe and I’m very much looking forward to this new challenge in an amazing team. This is a perfect job to combine with my continuing Usono activities.
Jori is working for Holland Innovative and Benjamin is working at Sirius Medical … so all three remain on High Tech Campus.
Back in 2016, Victor was one of the first people we met in Eindhoven and we’ve written a lot over the years as we saw him, Benjamin and Jori expand the business.