San Francisco waste and energy company Brightmark Energy announced this week it will invest $500 million to $1 billion each to build new plastic recycling plants in select U.S. cities.

Brightmark, founded in 2016 with an initial $250 million investment from Jackson Investment Group, is hunting the U.S. for suitable locations to scale its recycling model and divert hundreds of thousands of tons of plastic waste from landfills and the ocean.

The company will kick off the nationwide search Nov. 19. The chosen cities can expect up to a $1 billion investment and more than 100 new jobs. Brightmark will fund the projects through company equity and debt.

By San Fransisco Business Times