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        Bioform Technologies, a Canadian startup that develops sustainable alternatives to single-use plastics, has raised CAD 5 million (~USD 3.7 million) in seed funding from Suzano Ventures, the investment arm of Suzano, a Brazilian producer of eucalyptus-based paper and pulp.
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        The funding will be used mainly to further develop Bioform's bio-plastic alternatives. Additionally, the company aims to build a demonstration facility to simulate its manufacturing process and use the capital to grow its team and increase its capabilities.
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        Bioform Technologies provides an eco-friendly alternative to single-use plastics through its wood pulp-reinforced hydrogels. Initially developed at the University of British Columbia, the technology is claimed to reduce the carbon footprint by 80% compared to regular single-use plastics. Bioform also claims its product is comparable to conventional plastics in key aspects such as tensile strength and oxygen or water vapor permeability.
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    <a href="https://techfundingnews.com/bioform-technologies-raise-5m-to-develop-bio-based-single-use-plastic-alternatives/">
      Tech Funding News
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Bio-based Materials

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 <p>Bioform Technologies, a Canadian startup focused on creating sustainable alternatives to single-use plastics, has recently secured CAD 5 million (~USD 3.7 million) in seed funding. The funding comes from Suzano Ventures, which is the investment sector of Suzano, a Brazilian company specialising in the production of eucalyptus-based paper and pulp.</p>
 <p>The funds are set to be utilised predominantly for the further development of Bioform's bio-plastic alternatives. In addition to this, Bioform intends to construct a demonstration facility for simulating its manufacturing process. The company also plans to increase the size of its team and enhance its overall capabilities with the help of this capital.</p>
 <p>With its technology initially developed at the University of British Columbia, Bioform Technologies offers an environmentally friendly alternative to single-use plastics through the use of its wood pulp-reinforced hydrogels. According to the company, these products can reduce the carbon footprint by as much as 80% when compared to traditional single-use plastics. Despite this significant reduction, Bioform also asserts that its product displays similar characteristics to conventional plastics in critical areas such as tensile strength and the permeability of oxygen or water vapour.</p>

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Bioform Technologies raises CAD 5 million in seed funding for product development and expanding operations

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 <p>Archroma, a company based in Switzerland specializing in color and specialty chemicals, has launched a new bio-based water-repellent finish named Phobotex NTR-50 Liq (Phobotex). The product is formulated to enhance water and stain protection in apparel and outerwear materials, additionally providing a soft feel to the fabrics.</p>
 <p>The company asserts that Phobotex exhibits effective water-resisting abilities, preventing unwanted issues such as yellowing and chalk marking. It boasts superior efficiency on synthetic fibers and their blends. The product contains 50% renewable carbon content and is devoid of substances like PFAS and formaldehyde. Additionally, it provides increased flexibility due to its composition, which is free from crosslinkers.</p>
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Archroma launches bio-based water-repellent finish Phobotex NTR-50 Liq

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 <p>SA-Dynamics, a German startup, has introduced a bio-based aerogel insulation product designed for construction textiles. The product uses bio-based aerogel fibers that encapsulate approximately 90% air, offering insulation equivalent or better than fossil-based materials such as PET, PE, PP, and mineral or stone wool. The firm asserts that its entirely recyclable product utilizes sustainably sourced and certified raw materials.</p>
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SA-Dynamics develops bio-based and recyclable insulation textiles

ANALYST_QUICK_TAKE

INCUMBENTS_PRESENT

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 <p>NatureWorks, a subsidiary of Cargill specializing in sustainable biopolymer manufacturing, and CJ Biomaterials, a subsidiary of CJ CheilJedang and a leading manufacturer of polyhydroxyalkanoate (PHA), have introduced two new PHA-based compounds designed for flexible packaging applications.</p>
 <p>The compounds, a fusion of NatureWorks' Ingeo PLA and CJ’s Phact PHA, are termed Phact CA1270P (clear) and Phact CA1240PF (opaque). These elements have the potential for use in film-related applications like food packaging, shopping bags, and labels. The companies declare that the new compounds possess carbon footprints half the size of those of conventional low-density polyethylene, linear-low density polyethylene, polyethylene, polypropylene, and polyethylene terephthalate (LDPE/PE/PP/PET) solutions typically employed in packaging.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> The compounds were unveiled as part of the collaboration between the companies launched in <a href="https:<br>
//sp-edge.com/updates/10669"> May 2022 </a> . The partners aim to develop high-performance biopolymers for compostable food packaging, food service ware, and personal care, capitalizing on rising consumer demand for alternatives to petroleum-based packaging solutions.</p>

NatureWorks and CJ Biomaterials launch new bio-based compounds for film packaging applications

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 <p>Bcomp, a Swiss company specializing in natural fiber solutions, has successfully raised USD 40 million during its Series C funding round. EGS Beteiligungen AG led the round, with valuable contributions from Verve Ventures, Zürcher Kantonalbank, and RKKVC. Furthermore, previous investors such as Generali, Airbus Ventures, BMW i Ventures, Porsche Ventures, and Volvo Cars Tech Fund reinstated their trust in Bcomp by participating in this latest funding round.</p>
 <p>The raised capital will primarily be used to boost Bcomp's production capacity. The move comes in response to a significant increase in demand for their natural fiber composite-based products in the automotive industry. In addition, the funds will also be allocated to facilitate Bcomp's expansion into promising new markets in Asia and North America.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> The company previously secured ~USD 35 million in Series B funding in <a href="https:<br>
//sp-edge.com/updates/9613"> April 2022 </a> to expand operations and strengthen its commercial footprint, and was backed by leading players in the mobility space, including BMW, Volvo, Porsche, and Airbus.</p>

Bcomp raises USD 40 million in Series C funding to expand production capacity

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 <p>A German plastic processing firm, Ensinger, has expanded its product line to include options made from bio-based and recycled materials. This is part of the firm's "Reuse for Tomorrow" campaign, which aims to extend the lifespan of raw materials and decrease greenhouse gas emissions.</p>
 <p>The first line of these products is made using bio-based plastics, derived from the waste products of the wood-processing industry and other organic resources. These are available as plates, rods, and tubes, and possess similar properties to conventional materials. The second alternative materials line incorporates mechanically recycled plastics and production waste, which have varying material properties as compared to virgin materials but offer significant environmental advantages.</p>
 
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Ensinger expands product portfolio with bio-based and reprocessed plastics offerings

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 <p>Finland's Nordic Bioproducts Group (NBG) has teamed up with PTT MCC Biochem from Thailand to create compostable bioplastic products. This collaboration plans to use NBG's innovative cellulosic fibers, compliant with rigid food container safety regulations, in creating Biochem's bioplastic product, BioPBS.</p>
 <p>Their joint objective is to establish an alternative to petroleum-based plastics that offers high performance, with the added benefits of being both biodegradable and home-compostable.</p>
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Nordic Bioproducts Group collaborates with PTT MCC Biochem to develop compostable bioplastics

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 <p>Kari-Out, a foodservice packaging specialist, has introduced what it says is the first completely compostable, plant-based packet in the industry. The company's aim is to reduce environmental harm while maintaining product quality and shelf life.</p>
 <p>The bio-based packets from Kari-Out have received TUV certification and are designed to be composted at home. They are also customizable, making them suitable for various uses, including condiments, sauces, and other items. These packets also provide the option for a transparent or paper exterior, and can be personalized with logos or product details.</p>
 
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Kari-Out launches plant-based, fully compostable packet for foodservice

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 <p>Natural Fiber Welding (NFW), a firm specializing in creating textiles from recycled plants and natural fibers, has recently secured a funding of USD 24.8 million according to an SEC filing.</p>
 <p>NFW plans on utilizing this investment to expedite its product development process and also to broaden its operational reach.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> NFW has been expanding its operations aggressively and scaling up production of its plant-based leather alternative, Mirium. In <a href="https:<br>
//sp-edge.com/updates/23138"> October 2023 </a> , the company secured an undisclosed investment from Asahi Kasei to develop Mirium for use in car interiors and an inroad to the Japanese market. In <a href="https:<br>
//sp-edge.com/updates/9747"> April 2022 </a> , NFW also raised USD 85 million in Series B funding to expand its Claurus and Mirum platforms and to develop shoes using sustainable materials partnering with major brands.</p>

Natural Fiber Welding raises USD 24.8 million to scale up operations

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 <p>Bpacks, a startup based in Serbia and the UK, has developed a biodegradable plastic substitute composed of waste materials such as tree bark and used coffee grounds. The bioplastic aims to replace petroleum-based plastics, targeting the fresh produce, meat, and cosmetics industries.</p>
 <p>This bioplastic is manufactured and distributed as pellets or sheets, catering to various types of packaging needs while being compatible with existing equipment and moulding processes. Bpack acknowledges that the material is suitable for high-moisture products and is home-compostable, breaking down in moist soil within one to two months.</p>
 <p>Established in 2022, Bpacks claims to have created the world's first tree bark-based bioplastic. It utilises up to 75% of materials sourced from production waste, aiming to reduce CO2 emissions by using pre-owned production equipment.</p>
 
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All Updates

Bioform Technologies raises CAD 5 million in seed funding for product development and expanding operations

Archroma launches bio-based water-repellent finish Phobotex NTR-50 Liq

SA-Dynamics develops bio-based and recyclable insulation textiles

NatureWorks and CJ Biomaterials launch new bio-based compounds for film packaging applications

Bcomp raises USD 40 million in Series C funding to expand production capacity

Ensinger expands product portfolio with bio-based and reprocessed plastics offerings

Nordic Bioproducts Group collaborates with PTT MCC Biochem to develop compostable bioplastics

Kari-Out launches plant-based, fully compostable packet for foodservice

Natural Fiber Welding raises USD 24.8 million to scale up operations

Bpacks unveils tree bark-based biodegradable bioplastic packaging

Bio-based Materials

Bioform Technologies raises CAD 5 million in seed funding for product development and expanding operations

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