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        Bambrew, an Indian startup offering sustainable packaging solutions, has raised USD 2.35 million in a pre-Series A funding round led by Blue Ashva Capital and Supack Industries. New investor Mumbai Angels and other notable angel investors also participated in the round.
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        The funding will support Bambrew in building a new platform for sourcing materials, in research and development of new sustainable materials, increasing production capacity, expanding its national presence, and strengthening its team. The company plans to expand into local markets such as Delhi, Mumbai, and Kolkata, as well as international markets like the US, Europe, and the Middle East.
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        The company also reported that, since its inception, the business has grown nearly 50x and expects to grow further during 2022.&nbsp;
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  <p>
    <a href="https://www.thehindubusinessline.com/companies/bambrew-raises-235-mn-in-pre-series-a-round/article38156399.ece#:~:text=Over%20past%202%20years%2C%20we%20have%20seen%2050%20times%20growth%20and%20envision%20further%20higher%20growth%20scale%20in%20the%20upcoming%20year.%22">
      <b>The Hindu Business Line</b>
    </a>
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Bio-based Materials

Bambrew raises USD 2.35 million in pre-Series A funding

PROMINENT_CATEGORY

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 <p>Evonik, a specialty chemicals producer, recently opened a new plant for the production of bio-based cosmetic oils and waxes, also known as emollients, at its site in Steinau, Germany.</p>
 <p>The newly inaugurated plant employs the process of enzymatic esterification utilizing vegetable oils as feedstock for the manufacture of emollients. Evonik maintains that this method can substantially reduce climate footprint by more than 60% when compared to the traditional chemical esterification. Furthermore, the plant solely relies on renewable energy sources, which contributes to virtually zero-climate footprint from a gate-to-gate perspective.</p>
 <p>The company regards this investment as a significant step towards reducing its climate footprint as well as that of its customers' cosmetic formulations. Supporting the beauty industry's transition towards sustainability is one of Evonik's primary aims. They intend to fulfill the demand for more responsible, eco-friendly solutions without compromising product performance. </p>
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Evonik opens new plant for bio-based emollients in Germany

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 <p>Global chemical manufacturer INEOS has entered into a partnership with Exel Composites, a producer of sustainable composites. They will supply over 100 metric tons of the INEOS ENVIREZ bio-based resin system.</p>
 <p>ENVIREZ resin system is said to contain 23% bio-based glycol, which decreases carbon emissions by 21% as compared to fossil-based resins. Exel Composites will give its customers the option to opt for this environmentally friendly resin, assuring that there will be no compromise in technical performance.</p>
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Exel Composites partners with INEOS for large-scale use of bio-based resins

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 <p>Dutch cycling gear and accessories company, BBB Cycling, has launched Bio, a range of plant-based bike care products. The Bio line includes assembly, maintenance, and cleaning products designed to be biodegradable within 28 days, and are devoid of petrochemicals and microplastics.</p>
 <p>Products in the new line include the BioSeal tire sealant, produced from cellulose fibers and natural latex derived from sugar beet. There are also lubrication and grease products formulated from natural waxes and rapeseed oil. Other items in the Bio range are BioWax Chain Lube, BioDrivetrain Cleaner, BioReadyWash Bike Shampoo, and BioPaste Assembly Paste.</p>
 <p>The company says the new product line aligns with their sustainability goals, aiming for net zero emissions by 2030. The Bio products are presented in 100% recycled PET packaging, with labels printed using eco-friendly, plant-based soy inks.</p>
 
</div>

BBB Cycling launches line of bio-based bike accessories

ANALYST_QUICK_TAKE

INCUMBENTS_PRESENT

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 <p>A Germany-based startup, Revoltech, specializing in bio-based alternatives to leather, has entered a partnership with Volkswagen (VW) to create LOVR (Leather-free, Oil-free, Vegan, and Residue-based). This is a sustainable hemp-based alternative to leather, and it's intended for future car interiors.</p>
 <p>LOVR is said to be a 100% bio-based material, derived from industrial hemp residues and a unique bio-based adhesive. The manufacturers claim that it's fully recyclable and compostable, and that it can be manufactured in existing industrial facilities. Volkswagen is planning to potentially incorporate this material in its models from 2028, subject to further R&amp;D.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> The partnership with VW marks Revelotech’s first partnership with a major automaker. The company previously supplied the reinforcements for Melina Bucher’s 'Dreamer' bio-based handbag in <a href="https:<br>
//sp-edge.com/updates/31799"> July 2024 </a> . The company raised an undisclosed amount of seed funding in <a href="https:<br>
//sp-edge.com/updates/10729"> May 2022 </a> , aiming to develop and bring LOVR to market.</p>

Revoltech partners with Volkswagen to develop hemp-based leather alternative for car interiors

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 <p>A Swedish greentech firm, Lignin Industries, has commercialized a bio-based product named Renol. Developed from lignin, commonly found in trees, this new product is expected to offer a sustainable alternative to fossil-based materials in the plastic industry.</p>
 <p>According to Lignin Industries, Renol has various potential applications, including use in domestic goods, automotive parts, consumer electronics, and PE films. It can substitute for 15% to 40% of the fossil oil in plastic production and can also be merged with virgin, recycled, or other bio-based materials.</p>
 <p>Renol, as claimed by the company, has a carbon footprint remarkably less than that of traditional plastics and maintains stability during recycling, with the ability to maintain its properties through multiple cycles. The company, operating a factory near Stockholm, is also planning to enhance production through collaborations with external sources.</p>
 
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Lignin Industries commercializes bio-based plastic alternative Renol

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 <p>Estonian startup, Myceen, which is developing mycelium-based building materials, has secured over EUR 2 million (~USD 2.2 million) in grants in 2024. The company also intends to initiate a seed round of EUR 1 million–1.5 million. Among its investors are Mistletoe Japanese Impact Fund, EIT Climate KIC, Enterprise Estonia, and others.</p>
 <p>Funds secured will be used towards Myceen's shift to a larger production facility, further development of industrial production technology for its mycelium-based building materials, and the commercial sale of sustainable insulation solutions.</p>
 <p>Myceen, having shipped products to over 15 countries such as the US and Singapore, aims to test its insulation materials on a pilot house, the construction of which is being carried out in partnership with the Timber Architecture Research Center, planned for completion by Q4 2024.</p>
 
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Myceen raises EUR 2 million in grant funding to expand bio-based building material production

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 <p>A German polymer manufacturing company, Covestro, is collaborating with Carlisle Construction Materials, a building materials manufacturer and supplier, to deliver bio-based construction materials meant for building insulation.</p>
 <p>With this collaboration, Covestro will supply Carlisle with methylene diphenyl diisocyanate (MDI). This is utilized in producing partially renewable polyurethane rigid foam insulation panels. The MDI is extracted from mass-balanced bio-circular raw materials and is reported to have a significantly less carbon footprint than fossil-based alternatives.</p>
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Covestro partners with Carlisle to produce bio-based building insulation

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 <p>Microalgae-based compounds manufacturer, Checkerspot, is collaborating with Cambium, a biomaterials developer for applications like aerospace, defense, and renewable energy. The partnership aims to create bio-based, impact-resistant, high-temperature, and flame-retardant polyurethane foam products and composite foam systems. </p>
 <p>The collaboration involves the use of Checkerspot's microalgae-based polyols and Cambium's composite systems for the production of advanced foam products and composite foam systems. Their goal is to innovate and expedite the production of environment-friendly and highly resistant foam products apt for high-performance applications.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> The partnership is significant for the company as it expands into bio-based industrial materials applications. Checkerspot’s microalgae-based technology has previously had several food-based applications, including <a href="https:<br>
//sp-edge.com/updates/27897"> climate-resistant oils </a> for plant-based meat alternatives and plant-based foods and in developing a <a href="https:<br>
//sp-edge.com/updates/26196"> human milk fat </a> analog.</p>

Checkerspot and Cambium collaborate to develop high-performance, bio-based polyurethane foam products

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 <p>Finnish sustainable textile fiber producer, Spinnova, has formed a partnership with global paper, pulp, and energy technology company Valmet. The aim of this partnership is to increase the production of Spinnova Fiber, an environmentally friendly textile fiber made from wood pulp or waste.</p>
 <p>This partnership will help to further develop Spinnova's technology and reach cost-efficient targets. The companies claim that this collaboration could open up new possibilities, attracting more customers from material processing and pulping industries. For an unspecified limited time, Valmet will be the exclusive equipment supplier for this process, and this will involve an exclusivity fee based on the project deliveries realized.</p>
 <p>The drying technology used at the Woodspin factory, where Spinnova Fibre is produced, is also supplied by Valmet. The factory is run as a joint venture between Spinnova and Suzano, which was started in 2020. Spinnova has stated that the financial impact of this partnership will not significantly alter the company’s financial forecast for 2024.</p>
 
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Spinnova and Valmet partner to scale sustainable fiber production technology

<div>
 <p>Ino Armor, a biomaterials development company, has created a bio-based and fully biodegradable alternative for bubble wrap. The new material is designed for use in SROA Capital's self-storage facilities in the US.</p>
 <p>This environmentally friendly packing material is created from natural silk cocoons embedded in polyhydroxyalkanoates (PHA) bioplastic. Ino Armor states that this unique combination results in a dome-like structure capable of absorbing impact, while its composition allows it to compost in various environments, ranging from home composts to open seas.</p>
 <p>Ino Armor was established in 2019 and operates in the helmet, packaging, and eco-materials sectors. The company's innovation involves a patented, bio-based, impact-resistant material composite that can substitute synthetic foam for product protection. More importantly, this material is fully compostable.</p>
 
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All Updates

Bambrew raises USD 2.35 million in pre-Series A funding

Evonik opens new plant for bio-based emollients in Germany

Exel Composites partners with INEOS for large-scale use of bio-based resins

BBB Cycling launches line of bio-based bike accessories

Revoltech partners with Volkswagen to develop hemp-based leather alternative for car interiors

Lignin Industries commercializes bio-based plastic alternative Renol

Myceen raises EUR 2 million in grant funding to expand bio-based building material production

Covestro partners with Carlisle to produce bio-based building insulation

Checkerspot and Cambium collaborate to develop high-performance, bio-based polyurethane foam products

Spinnova and Valmet partner to scale sustainable fiber production technology

Ino Armor launches bio-based bubble wrap alternative

Bio-based Materials

Bambrew raises USD 2.35 million in pre-Series A funding

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