PlantSwitch

PlantSwitch is a startup that converts agricultural waste into bio-based resin intended as a replacement for petroleum-based single use plastics. The company applies its proprietary technology to create biopolymer resin pellets from agricultural waste, such as rice hulls and wheat straw. The company claims its feedstock is a drop-in replacement for petroleum-based plastic pellets, is fully compatible with existing machinery and industrial processes, and involves minimal switching costs. 

PlantSwitch claims its resins perform similar to polyhydroxyalkanoate (PHA), which has enhanced performance and degradation characteristics compared to polylactide (PLA). PlantSwitch’s plastic feedstock can be used for a range of applications, including food utensils, cosmetics packaging, and consumer goods like bottles and caps, toothbrushes, and coffee pods. As of February 2024, PlantSwitch also claimed its product is the lowest cost compostable plastic alternative on the market.

The company claims items made from its bioplastic are industrially and home-compostable, breaking down in under 12 months without leaving any microplastic residue behind. As of February 2024, PlantSwitch operated a 52,000 sq.ft North Carolina facility with an annual production capacity of 25,000 tons and announced plans to begin production starting at 5,000 tons in December 2023 and ramping up in quarterly increments over the coming year.

Key customers and partnerships:

As of February 2024, the company’s customers included foodservice distributors Sysco, Edward Don & Company, Gordon Food Service, and Individual FoodService; food packaging distributors Imperial Dade and Bunzl; plastics manufacturer Westfall Technik; workspace design company Vira Insight; and health foods brand Pressed Juicery.

Funding and financials:

In February 2024, the company raised USD 8 million from NexPoint Capital via a convertible note to support expansion of its North Carolina facility. In November 2023, the company raised USD 2 million in a seed round led by NexPoint Capital. PlantSwitch also secured a USD 4.9 million grant from the US Department of Agriculture in October 2023. In March 2023, the company secured USD 250,000 in a seed round led by Sum Ventures, which was preceded by a USD 3.25 million seed round in February 2022.