UBQ Materials Valuation, Funding & Investors

UBQ Materials is valued at $850M as of September 2023.

Last UBQ Materials valuation

$850M

Undisclosed stage · Sep 2023

Last UBQ Materials funding round

$70M

Undisclosed stage · Sep 2023

Cumulative funding UBQ Materials raised

$240M

across 2 funding rounds

Key investors in UBQ Materials

  • Battery Ventures
  • TPG
  • M&G Investments
  • Eden Global Partners

UBQ Materials Overview

About UBQ Materials

UBQ Materials is a Tel Aviv-based producer converting mixed household waste into UBQ composite, a drop-in replacement for oil-based plastics. Adopted by manufacturers, the material cuts landfill diversion and greenhouse emissions while preserving product performance.


Founded

2012

HQ

IsraelTel Aviv

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$850M (Sep 2023)

UBQ Materials Valuation

UBQ Materials is currently valued at $850M, based on its undisclosed-stage round in September 2023. Read the announcement ↗

The $70M round was led by Eden Global Partners, with participation from Battery Ventures, M&G Investments and TPG.

UBQ Materials valuation by funding round

UBQ Materials valuation by funding round
DateStageValuation
Sep 2023Undisclosed stage$850M

UBQ Materials Funding History

UBQ Materials has raised a total of $240M across 2 funding rounds.

UBQ Materials' first fundraising round was a $170M undisclosed-stage round in December 2021. The most recent completed round was a $70M undisclosed-stage round in September 2023.

UBQ Materials funding rounds

UBQ Materials funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2023Undisclosed stageEden Global Partners (lead); Battery Ventures; M&G Investments; TPG$70M$850MUBQ Materials is an Israeli climate tech company that develops advanced thermoplastic materials from household waste, converting non-recyclable waste like banana peels, chicken bones, and diapers into climate-positive, recyclable pellets that replace fossil-fuel-based plastics in applications such as automotive parts, food trays, shipping pallets, hangers, and trash bins. The company secured $70 million in funding on September 13, 2023, led by Eden Global Partners, with participation from existing investors including TPG Rise Climate, TPG’s Rise Fund, Battery Ventures, and M&G’s Catalyst strategy. This round brings UBQ’s total funding to between $240 million and $282 million over recent years, depending on source reporting. The funds will support commercial scale-up, sales and marketing, global expansion, and construction of additional industrial plants in Europe and North America. Key milestones include the opening of a large-scale facility in Bergen Op Zoom, Netherlands, with annual capacity of 80,000 tons of UBQ material from 104,600 metric tons of waste, alongside a smaller plant in Israel’s Negev producing 7,000 tons yearly. UBQ has partnerships with major brands like Daimler (Mercedes-Benz) for automotive parts, Arcos Dorados (McDonald’s franchisee in Latin America) for trays, and PepsiCo for pallets and displays. UBQ employs over 100 people across 25 countries, with 50 in Israel, and emphasizes R&D for new product lines targeting building, construction, consumer durables, automotive, logistics, and supply chain industries. The material is competitively priced, classified as recycled content, and produced using no water and 100% solar energy, positioning UBQ as a pioneer in circular economy solutions. Recent recognitions include sustainability awards for automotive applications developed with partners like Consolidated Metco and Polyram Plastic Industries.
Dec 2021Undisclosed stageTPG (lead); Battery Ventures; M&G Investments$170M-UBQ Materials, an Israeli clean-tech company, develops UBQ™, a patented climate-positive thermoplastic material made from 100% unsorted municipal solid waste, including organics, serving as a recyclable substitute for plastic, wood, or concrete in industries like construction, automotive, logistics, retail, and 3D printing. The material prevents landfill methane emissions, offsets carbon footprints when blended with oil-based resins, and is energy-efficient with no water use or effluents. On December 15, 2021, UBQ announced a $170 million funding round led by TPG Rise Climate and The Rise Fund, with participation from existing investor Battery Ventures and M&G Catalyst strategy. The investment supports global expansion, including a large-scale facility in the Netherlands operational by end-2022, continued R&D for certifications and new products, and scaling to meet demand amid rising sustainability needs post-COP26. Previously, UBQ had raised $42 million total. Leaders like Albert Douer and Jack Bigio emphasized UBQ's role in circular economy goals, competing on cost with traditional plastics while addressing the 2 billion tons of annual global municipal waste, over 70% landfilled. TPG Rise partners, including Steve Ellis joining the board, highlighted UBQ's broad applications and potential for global scaling. The round aligns with climate investing trends, positioning UBQ to aid governments and manufacturers in GHG reduction targets.

Who has invested in UBQ Materials?

4 investors have backed UBQ Materials across its funding rounds, including Battery Ventures, TPG, M&G Investments and Eden Global Partners.

Lead investors include Eden Global Partners and TPG.


UBQ Materials Investors

Investors in UBQ Materials by funding rounds participated
InvestorHQRoundsRoleFirst check
Battery VenturesUnited StatesBoston, MA2ParticipantDec 2021
M&G InvestmentsUnited KingdomLondon2ParticipantDec 2021

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UBQ Materials Competitors

UBQ Materials competitors include listed companies like PSI Software and Hydrograph Clean Power, and private ones like 8 Rivers, Koloma, Electric Hydrogen and Gradiant.

Public and private companies comparable to UBQ Materials
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
8 RiversUnited StatesUnited StatesPrivate--$833M-
PSI SoftwareGermanyGermanyPublicly listed$319M($7M)$814M2.5x
KolomaUnited StatesDenver, COPrivate--$800M-
Electric HydrogenUnited StatesBoston, MAPrivate--$1B-
GradiantUnited StatesBoston, MAPrivate$150M-$1B-
Hydrograph Clean PowerCanadaCanadaPublicly listed$43K($8M)$1B-

UBQ Materials Public Comps

UBQ Materials is still privately-owned, but its public comps include PSI Software, Hydrograph Clean Power, Canadian Solar, Chrysos Corp., NYAB, Ballard Power Systems, Zhejiang Netsun, Array Technologies, Suzhou Thvow Technology and Shoals.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
PSI Software$319M($7M)2.6x2.5x(126.4x)44.0x
Hydrograph Clean Power$43K($8M)23373.3x-(128.3x)-
Canadian Solar$5.6B$546M1.5x1.5x15.8x17.2x
Chrysos Corp.$62M$19M9.9x9.0x32.2x27.8x
NYAB$611M$40M0.9x0.8x13.9x10.6x
Ballard Power Systems$99M($85M)0.6x0.5x(0.7x)(1.1x)
Zhejiang Netsun$80M($2M)6.0x-(235.3x)-
Array Technologies$1.3B$34M1.1x1.0x43.7x6.8x

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Common questions about UBQ Materials

When was UBQ Materials founded?UBQ Materials was founded in 2012.
Where is UBQ Materials headquartered?UBQ Materials is headquartered in Tel Aviv, Israel.
Is UBQ Materials publicly listed?No, UBQ Materials is a private, VC-backed company.
What is UBQ Materials' valuation?UBQ Materials was last valued at $850M in its undisclosed-stage round in September 2023.
How much funding has UBQ Materials raised?UBQ Materials has raised $240M across 2 funding rounds.
What was UBQ Materials' last funding round?UBQ Materials' last funding round was a $70M undisclosed-stage round in September 2023, led by Eden Global Partners.
Who are UBQ Materials' investors?UBQ Materials' investors include Battery Ventures, M&G Investments, TPG and Eden Global Partners.
Which companies are comparable to UBQ Materials?Companies comparable to UBQ Materials include 8 Rivers, PSI Software, Koloma, Electric Hydrogen, Gradiant and Hydrograph Clean Power.

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