Wall Street veteran Kenneth Leet joins to Chair the board of Sortera Technologies

Sortera Technologies, Inc., a pioneering material sorting company utilising an upcycling platform driven by artificial intelligence, data analytics, and advanced sensors, has appointed Wall Street veteran Kenneth Leet as Chairman of the Board. Mr Leet, the first to hold this position, joins the company’s Board at a pivotal moment of phenomenal growth. With over three decades of leadership in the financial sector, Mr Leet’s extensive experience with industrial enterprises is set to play a vital role as Sortera embarks on its next phase of rapid expansion, including the establishment of additional sortation facilities to serve a diverse range of industries across the nation.

“Kenneth is a well-regarded leader with an outstanding reputation and vast experience in investing and advising some of the world’s largest blue-chip companies from various industries to success. We are deeply honoured and enormously pleased that he recognises Sortera’s potential and has agreed to join our Board and assume the role of Chairman,” said Michael Siemer, CEO of Sortera Technologies. “In three short years, Sortera has transformed the recycling industry with its cutting-edge technology and has established itself as a key player in the US$1 trillion metals and recycling markets. We are excited about Sortera’s growth prospects. I am confident that Ken’s track record, strong leadership, and wealth of experience in the industrial sectors will contribute to establishing Sortera for success for decades to come.”

Sortera Technologies’ flagship facility in Markle, Indiana, which commenced construction in 2023, is projected to reach full operational capacity by the end of 2025, sorting 220 million pounds (approx. 99.79 million kilograms) of aluminium annually. The company’s distinctive capability to sort complex materials at an industrial scale is addressing the growing demand for high-quality upcycled materials from major manufacturers across sectors such as automotive casting, aerospace extrusions, and construction materials. Looking ahead to 2025, Sortera plans to enhance its sorting capabilities and establish additional operations across North America, further propelling its growth within the metals and recycling markets.

“I am honoured to have the opportunity to serve as Sortera’s Chairman at this important time in the company’s history,” Leet said. “I have had the opportunity to work with Sortera’s leadership team and have come to appreciate the level of sophistication of its technology platform and the potential application for the industrial sector. I have deep respect for their thoughtful and strategic approach to building Sortera into a world-class materials sorting company that can benefit many industries across the U.S. and beyond.”

In late October 2024, Sortera Technologies concluded the final close of an additional US$28.8 million for its Series C funding round, which commenced in the second half of 2023. The round raised a total of $59.3 million from prominent investors, including RA Capital Management-Planetary Health, with participation from funds and accounts advised by T. Rowe Price Associates, Inc., the Mineral Resources Group (part of Mitsubishi Corporation’s Business Incubation Unit), and Macquarie GIG Energy Transition Solutions (MGETS). Existing investors such as Assembly Ventures, Breakthrough Energy Ventures, and Chrysalix also participated.

This latest funding milestone underscores confidence in Sortera’s technological platform and its dedication to delivering innovative solutions for industries dependent on upcycled materials. The company’s efforts have contributed to creating new upcycling streams that foster a circular economy and support a more sustainable future.

Recently, Sortera was named to the 2025 Global Cleantech 100 list by Cleantech Group for the third consecutive year, a recognition that celebrates companies committed to developing cutting-edge, sustainable solutions to address the climate crisis.