CarbonMeta Technologies (OTC PINK:COWI) announced earlier this week the launch of a subsidiary company called Carbon Source Inc. which will produce and sell upcycled 3D printing filaments.
CarbonMeta has identified this market as a high growth opportunity.
Research company Market Data Forecast reveals that the global market for these products is expected to reach $1.96 billion by 2026, which would mean an average annual growth rate of 28.3%.
The source material for the 3D printer filaments can come in different variations of plastic materials. Landfills can also be a source of what can be considered the raw material in this case.
But the company claims that 80% of plastic waste goes into landfil or enters the environment, never to be recycled.
Lloyd Spencer, CEO of CarbonMeta commented on the launch of the subsidiary: “The problem of upcycling post-consumer plastics is enormous, and we want to help solve this problem. Turning plastic waste streams into 3D printing products is an important goal, and making this a sustainable business for investors and customers is equally important.”
Relevant: CarbonMeta Signs License For Paver Products That Capture CO2
Filaments utilised in 3D printing are plastics (also known as polymers) that don’t burn when exposed to higher temperature, but melt instead.
The can be molded and shaped at these higher temperatures and solidify when they are cooled, much like glass.
Filaments are then delivered into the heating chamber of the printer, melted and squirted with a predefined volume, as the trace a preprogrammed bluepring that gradually prints the desired object.
Carbon Source Filament Demand
In the announcement, the company states that Carbon Source’s filaments will be made up of a minimum of 50% of recycled plastic waste.
“Department of Defense agencies and commercial manufacturers have increased demand for 3D printed products that are made from post-consumer plastics to meet their net zero initiatives,” added Bill Macy, president of Macy Consulting.
At the moment Carbon Source markets a High Impact Polystyrene 3D printer filament with plans to bring to market upcycled filaments containing PET, PETE, PETG, PLA and Polyethylene.
Carbon Source will also market custom filaments to private, public and makerspace clients that are looking at ways to upcycle their plastic waste.
CarbonMeta License For Paver Products
There was another announcement from CarbonMeta last week in which the company shared that it has signed a trade secret license with EcoMena Limited.
The agreement will allow CarbonMeta to use that global license for another upcycling project. The focus there will be on construction waste material, along with industrial waste byproducts that will be turned into CO2-capturing cement-free pavers.
