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      <p>
        Natural Fiber Welding (NFW), a technology company that develops textiles using recycled plants and natural fibers, has raised USD 85 million in a Series B funding round led by Evolution VC Partners. New investors included Tattarang, Lewis, and Clark AgriFood. Existing investors including BMW iVentures and Ralph Lauren also joined the round.
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        The funds are expected to support NFW in scaling up its Clarus and Mirum platforms and in expanding its offering to molded fiber composites beyond plant and natural fiber-based leather and textiles.
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      <p>
        NFW also reported plans to develop shoes fully made using its sustainable materials by entering into partnerships with major brands and developing customer relationships.
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  <p>
    <a href="https://blog.naturalfiberwelding.com/funding-b-round-85-million?hsLang=en">
      Press release
    </a>
  </p>
  <p>
    <a href="https://www.finsmes.com/2022/04/natural-fiber-welding-closes-85m-series-b-funding.html">
      FinSMEs
    </a>
  </p>
</div>


Bio-based Materials

Natural Fiber Welding raises USD 85 million in Series B funding

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 <p>UK-based startup Naturbeads has received GBP 7.8 million (~USD 9.8 million) in Series A funding. The funding round was led by Eos Advisory, with participation from Progress Tech Transfer, CDP Venture Capital, PI-NB, and Paragon Capital Management.</p>
 <p>The funds will be utilised to construct Naturbeads' first production plant in Puglia, Italy, and expand production to cater to the increasing demand for eco-friendly ingredients in the industry.</p>
 <p>Naturbeads, established in 2018 and a spinoff from The University of Bath, focuses on addressing microplastic pollution by targeting microplastics found in everyday products. The company claims to be working in partnership with several global manufacturers to incorporate its cellulose microsphere ingredients in diverse industrial applications. Naturbeads anticipates announcing its initial commercial milestones in 2025.</p>
 
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Naturbeads raises GBP 7.8 million in Series A funding to build production plant

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 <p>Hempitecture, a firm that creates eco-friendly construction materials from hemp, has raised 8.4 million dollars in state funding from the US Department of Energy (DOE) as part of the Biden-Harris Administration's Investing in America initiative.</p>
 <p>This funding will be utilized to build a fiber hemp processing plant and a manufacturing unit in Rogersville, Tennessee. The facility will manufacture top-tier hemp-derived construction materials, such as insulation, packaging, and car parts.</p>
 <p>Established in 2018, the company boasts products like PlantPanel insulation that purportedly offer a 60%–80% decrease in carbon intensity than traditional alternatives. The company stated that the facility's tactical location in the southeast will offer easy access to primary markets, specially intending to cater to American car manufacturers with natural fiber nonwovens.</p>
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Hempitecture raises USD 8.4 million in government funding to build manufacturing facility

INCUMBENTS_PRESENT

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 <p>Huhtamaki, a global packaging manufacturer, has obtained a EUR 450 million (~USD 473 million) sustainability-linked credit facility with a five-year term. Banks such as Citi, Nordea Bank Abp, and Skandinaviska Enskilda Banken AB arranged the facility.</p>
 <p>This credit facility will replace an existing EUR 400 million (~USD 420,400) credit facility from January 2021 and will be used for general corporate activities. The facility includes two one-year extension options at the lenders' discretion.</p>
</div>

Huhtamaki secures EUR 450 million in sustainability-linked credit facility to carry out refinancing activities

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

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 <p>Honeywell, a global technology corporation, has formed a partnership with SGP BioEnergy, a bioenergy development firm, to construct technology that can convert industrial hemp into biochemicals for use in plastic manufacturing.</p>
 <p>As a part of the partnership, Honeywell is responsible for the development of technology that deconstructs plant-based feedstock for the purpose of biochemical production. In turn, SGP BioEnergy will offer the necessary hemp feedstock, infrastructure, and manpower via its "READY.GROW" initiative. In addition, Honeywell is expected to lend operational support and provide necessary workforce training.</p>
 <p>The main objective of this cooperation is to lower the dependency on fossil fuels. This will be achieved by creating alternatives to petrochemicals using secondary feedstocks, and it will be accomplished without causing any disruptions to the food chain.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> In <a href="https:<br>
//sp-edge.com/updates/36013"> August 2024 </a> , Honeywell partnered with Repsol to produce a variety of biofuels, such as sustainable aviation fuel and renewable diesel, using waste materials, including oils, greases, and biomass, at Repsol's refineries</p>

Honeywell partners with SGP BioEnergy to develop plant-based biochemicals from industrial hemp

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 <p>2M Sustainable Packaging Technologies, a biomaterial packaging enterprise of the 2 M group, is collaborating with WMG department of the University of Warwick. The partnership aims to develop and bring to the market a seaweed-derived biomaterial, FlexSea, for personal care packaging. This initiative is supported by an Innovate UK SMART Grant, with a primary objective to create recyclable and compostable packaging alternatives to replace traditional fossil-based plastics.</p>
 <p>The project will take advantage of the engineering and plastic processing expertise of WMG to fabricate environmentally friendly packaging. A distinctive feature of these packages is their capability to biodegrade within a few weeks in both marine and terrestrial habitats, thus contributing to sustainable ecology.</p>
 <p>The collaboration will be expanded to involve other companies of the 2M Group. These companies, including Surfachem and Crafted, are expected to merge their knowledge in areas such as formulation, packaging, and design. The goal is to establish comprehensive product solutions that would be an amalgamation of their combined proficiency.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> 2M Group established its Sustainable Packaging Technologies business unit in <a href="https:<br>
//sp-edge.com/updates/31797"> July 2024 </a> to develop a range of biomaterial technologies that can be incorporated into already established packaging processes. In the <a href="https:<br>
//sp-edge.com/updates/31605"> same month </a> , FlexSea also partnered with Essentra to develop alternative bioplastic materials from seaweed and other materials for packaging applications.</p>

2M partners with University of Warwick to develop FlexSea's seaweed-based packaging solutions

<div>
 <p>Lactips, a company from France specialising in water-soluble and biodegradable plastics, has formed a partnership with Finnish packaging company Walki Group. Their joint venture aims to create fully biodegradable food packaging.</p>
 <p>This collaboration, initiated in 2022, intends to create paper-based food packaging that features a natural polymer coating, which can be recycled in the paper stream. Lactips supplies their unique natural polymer formulations, with Walki ensuring the finalised packaging products align with market demands.</p>
 <p>The partners have said that this project is a response to the EU's Single-Use Plastics Directive, which impacts items such as yogurt cups and snack pouches. The expectation is that these new products will be available in the market in the years 2025 to 2026.</p>
</div>

Lactips and Walki Group partner to develop biodegradable paper-based food packaging

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 <p>Specialty chemical and recycling firm Eastman and UPM Specialty Papers, a paper manufacturing branch of forestry corporation UPM, have collaboratively developed a biopolymer-coated paper packaging solution for use in the food industry.</p>
 <p>This innovative solution fuses Eastman's bio-based Solus additives with BioPBS polymer. The result is a thin coating applied on UPM's barrier base papers, providing protection against grease and oxygen, yet remains recyclable in existing fiber streams.</p>
 <p>It's claimed that the newly developed technology is fully compatible with conventional low-density polyethylene (LDPE) extrusion coating machinery. Moreover, it has been confirmed for both home and industrial compostability, hence, it is deemed appropriate for a wide range of food packaging applications.</p>
 
</div>

Eastman partners with UPM Specialty Papers partners to develop recyclable food packaging solution

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 <p>Kintra Fibers has teamed up with Paradise Textiles to create a biodegradable jacket from Kintra's sustainable polyester resin. The partnership showcases the real-world potential of Kintra's eco-friendly polyester alternative. Paradise Textiles is utilizing Kintra's technology to develop diverse collections of textiles as they prepare for sizeable commercial production.</p>
 
 <p>Kintra's technology is said to drastically cut emissions by 95%, water usage by 30% and energy consumption by 20% as compared to regular polyester. This innovative material boasts the same durability as conventional polyester but is four times softer and twice as stretchy, making it an excellent option for several clothing applications.</p>
</div>

Kintra Fibers partners with Paradise Textiles to launch bio-synthetic garment

<div>
 <p>Finnish textile fiber producer, Spinnova, has been awarded an R&amp;D loan of EUR 12.7 million (~USD 13.7 million) by Business Finland. The loan is divided into two phases: with EUR 7.7 million (~USD 8.3 million) allocated for the first phase and EUR 4.9 million (~USD 5.3 million) for the second, cumulatively representing 50% of the entire project cost which is valued at EUR 25 million (~USD 27 million).</p>
 <p>The funding for the first phase will be utilized for enhancing process efficiency, fiber recipe formulation, and automation technology refresh. The objective of the second phase will be to enable product innovation for new textiles and other uses, along with boosting production efficiency. The loan amortization is scheduled to commence in 2029.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> In 2024, Spinnova entered a series of partnerships with companies, including <a href="https:<br>
//sp-edge.com/updates/32918"> Valmet </a> , <a href="https:<br>
//sp-edge.com/updates/27387"> Suzano, </a> and <a href="https:<br>
//sp-edge.com/updates/26622"> Rejlers </a> , to scale its production technology and process. The funding enables the company to further refine and expand its technology to partners while working towards its targets to lower capital expenditures and operational expenses of its production technology.</p>

Spinnova secures EUR 12.7 million R&D loan to enhance production process and product development

<div>
 <p>Rayonier Advanced Materials (RYAM), a tech company specialized in cellulose, has secured a term loan financing of USD 700 million. The funding round was led by Oaktree Capital Management and included contributions from Silver Point Capital and Blue Torch Capital.</p>
 <p>This financing is intended to be used for the redemption and purchase of RYAM's current 2026 senior secured notes, the repayment of its 2027 secured term loan financing, and to cover any related costs and fees. The new term loan is expected to mature in five years, with an initial interest rate composed of three months Term SOFR plus a 7% spread.</p>
 <p>RYAM operates manufacturing facilities across the US, Canada, and France. It produces biofuels, bioelectricity, and other biomaterials including bioethanol and tall oils. Aside from these, the company also manufactures products applicable for the packaging and paper markets.</p>
</div>

All Updates

Natural Fiber Welding raises USD 85 million in Series B funding

Naturbeads raises GBP 7.8 million in Series A funding to build production plant

Hempitecture raises USD 8.4 million in government funding to build manufacturing facility

Huhtamaki secures EUR 450 million in sustainability-linked credit facility to carry out refinancing activities

Honeywell partners with SGP BioEnergy to develop plant-based biochemicals from industrial hemp

2M partners with University of Warwick to develop FlexSea's seaweed-based packaging solutions

Lactips and Walki Group partner to develop biodegradable paper-based food packaging

Eastman partners with UPM Specialty Papers partners to develop recyclable food packaging solution

Kintra Fibers partners with Paradise Textiles to launch bio-synthetic garment

Spinnova secures EUR 12.7 million R&D loan to enhance production process and product development

RYAM raises USD 700 million in debt financing from Oaktree Capital Management

Bio-based Materials

Natural Fiber Welding raises USD 85 million in Series B funding

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