TemperPack

Based in Richmond, TemperPack offers patented bio-based cold chain packaging solutions made from paper and cornstarch for applications in shipping perishable food, pharmaceuticals, and flowers. The company offers bio-based bubble wrap (“POPBOX”) and insulation foams to businesses and retail customers via direct sales channels and an online store, respectively. The insulation foam is offered under two products: 1) “ClimaCell,” which is made from 90% cornstarch-based foam and renewable materials, and 2) a recycled fiber that is made from cotton and jute. 

The company claims that ClimaCell offers temperature protection for up to 80 hours and has similar thermal performance and R-values (a measure of heat resistance at a given level of material thickness) at the same level of material thickness as expanded polystyrene (EPS) foam. It is also 100% curbside recyclable, reducing carbon emissions by 90%. According to the company’s 2021 Impact Report, up to 65 million pounds of CO2 emissions have been avoided as a result of using ClimaCell instead of EPS-based foams.

In August 2022 , the company announced an agreement to acquire Michigan-based KTM Industries, a manufacturer of bio-based foams for the packaging industry, to gain access to KTM’s “Green Cell Foam” technology. 

Key customers and partnerships

As of August 2022, TemperPack’s solutions have been used by more than 100 customers, with over 50 million shipments being made. 

In October 2018, the company partnered with Boxed Wholesale, a US-based online wholesale retailer that offers direct delivery of bulk packages, to develop and supply a packaging solution to prevent the melting of chocolates during delivery in the summer. For pharmaceutical shipments, TemperPack partnered with Michigan-based Diplomat Pharmacy in December 2018, the largest independent specialty pharmacy service provider in the US, to supply ClimaCell thermal packaging for Diplomats’ temperature-sensitive medication shipments. In February 2019, TemperPack partnered with Albertsons Companies, the second-largest grocery chain in the US, to replace styrofoam with ClimaCell insulation foams. Albertsons stated that it would be shipping ClimaCell integrated packaging to nearly 50,000 specialty care patients, physician offices, and clients later that month. It intended to divert up to 75,000 lbs of packaging from landfills per year.

Funding and financials

In March 2022, the company raised USD 140 million in an equity financing round led by Goldman Sachs Asset Management’s sustainability investment branch. The funds were to be used to expand production capacity, geographical footprint, and customer reach.