<div>
  <ul>
    <li>
      <p>
        Floreon Technology, a UK-based bioplastics company, has secured GBP 2 million (~USD 2.5 million) in a Series A funding round led by Northern Gritstone.
      </p>
    </li>
    <li>
      <p>
        Floreon plans to use the new funding to expand its team and facilitate the market introduction of its bioplastic products created from corn and sugarcane. The company claims its solutions can reduce carbon emissions by up to 7x relative to conventional plastic manufacturing.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://bdaily.co.uk/articles/2023/11/21/groundbreaking-bioplastics-developer-set-for-expansion-following-2m-investment">
      Bdaily News
    </a>
  </p>
  <p>
    <a href="https://tech.eu/2023/11/21/northern-gritstone-invests-ps2m-in-floreons-sustainable-bioplastics/">
      Tech.eu
    </a>
  </p>
  <p>
  </p>
</div>


Bio-based Materials

<div>
 <ul>
  <li><p>Floreon Technology, a UK-based bioplastics company, has raised GBP 2 million (~USD 2.5 million) in a Series A funding round led by Northern Gritstone.</p></li>
  <li><p>Floreon will use the funding to grow its team and launch its bioplastic products made from corn and sugarcane. The company claims its solutions can cut carbon emissions by up to 7 times compared to traditional plastic manufacturing.</p></li>
 </ul>
</div>

Floreon secures GBP 2 million funding to expand operations

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>
 <ul>
  <li><p>Neste, a Finnish sustainable energy company, is partnering with Mitsui Chemicals and Prime Polymer to produce sustainable food packaging solutions for the JCCU.</p></li>
  <li><p>Neste's renewable bio-based polymer "Neste RE" will be processed into renewable polypropylene by Mitsui Chemicals and Prime Polymer under the brand Prasus. The packaging will be used for a seaweed snack initially and aims to expand to other products.</p></li>
 </ul>
</div>

Neste, Mitsui Chemicals, and Prime Polymer develop bio-based food packaging

<div>
 <ul>
  <li>
   <p>Novamont, an Italian biomaterials company, and Amazon have partnered to pilot usage of biodegradable and bio-based packaging bags in Italy and Spain.</p>
  </li>
  <li>
   <p>The bags will use raw materials derived from starch and vegetable oil and will be fully compostable as well as recyclable. The companies are also experimenting with different methods to collect and recycle these bags.</p>
  </li>
 </ul>
</div>

Novamont partners with Amazon to trial bio-based packaging bags

<div>
  
 <ul>
  <li><p>Mango Materials, a bio-manufacturing company, has opened its Launch Facility at the Easterly Wastewater Treatment Plant in Vacaville, California. This is the first phase of their plan to establish a bio-manufacturing hub in partnership with the city.</p></li> 
  <li><p>The facility will use biogas from the wastewater treatment plant to produce YOPP+ biopolymer pellets using Mango Materials' novel methane to biomaterials conversion process. The facility is expected to create green jobs for the city as well.</p></li>
 </ul> 
  
</div>

Mango Materials opens Launch Facility in California

<div>
 <p>TômTex, a sustainable biomaterial manufacturing company, has raised USD 2.25 million in a seed funding round led by Happiness Capital. SOSV, Parley for the Oceans, and MIH Capital also participated. TômTex previously raised USD 1.9 million in a pre-seed round, bringing its total funding to USD 4.15 million.</p>
 <p>The funding will be used by TômTex to make strategic hires and expand its manufacturing capabilities. The company has recently achieved a production milestone by producing 100 linear feet of its bio-based fabric that utilizes shell seafood waste and mushrooms.</p>
</div>

TômTex raises USD 2.25 million in seed funding to expand operations

DISRUPTOR_PRESENT

<div>
  <ul>
    <li>
      <p>Octarine Bio, a synthetic biology startup based in Copenhagen, has raised EUR 4.35 million (USD 4.6 million) in a funding round led by Unconventional Ventures, with participation from Óskare Capital, The Footprint Firm, and dsm-firmenich Venturing. This raises Octarine's overall funding to EUR 12 million (USD 12.8 million).</p>
    </li>
    <li>
      <p>The new funds will be channeled toward fast-tracking the development and market launch of the company's sustainable dyes product line.</p>
    </li>
  </ul>
</div>

Octarine Bio raises EUR 4.35 million in venture funding

<div>
 
 <ul>
  <li><p>UK-based biotech startup Colorifix plans to expand its sustainable fabric-dyeing solution to China and Southeast Asia by 2025.</p></li>
  <li><p>In 1H 2024, Colorifix will focus on markets in India and Sri Lanka. The company aims to dye 15% of the world’s clothes by 2030.</p></li>
 </ul>
 
</div>

Colorifx announces plans to expand to China and Southeast Asia

<div>
 
 <ul>
   <li><p>RAIKU, a startup from Estonia, has secured EUR 8.8 million in funding. The funding includes EUR 5.65 million from the European Innovation Council and EUR 3.15 million from private investors. Leading the round of funding were investors such as Kaamos, Vestman, Little Green Fund, and other private investors from Estonia and Finland.</p></li>
   <li><p>RAIKU plans to use the funding to improve its compostable packaging technology, establish a factory, and expand globally.</p></li>
   <li><p>RAIKU's packaging filling material utilizes wooden springs, offering an eco-friendly alternative to traditional materials like bubble wrap, paper, and cardboard.</p></li>
 </ul>
 
</div>

RAIKU raises EUR 8.8 million in grant and private sector funding

<div>
 <ul>
  <li><p>Brazilian petrochemical company Braskem and Oxiteno, a subsidiary of Indorama Ventures which manufactures surfactants and specialty chemicals, have partnered to produce bio-attributed ethylene from renewable sources.</p></li>
  <li><p>The bio-attributed ethylene carries the International Sustainability and Carbon Certification (ISCC). It’s made using a “certified mass balance approach,” which processes traditional carbon sources with recycled or renewable components while maintaining product quality.</p></li>
  <li><p>The product partnership marks another step toward sustainability for the Latin American petrochemical industry by reducing reliance on fossil raw materials and curbing GHG emissions.</p></li>
 </ul>
</div>

Braskem and Oxiteno partner to supply bio-attributed ethylene from renewable sources

<div>
 
 <ul>
  <li><p>AgroRenew, a company that converts food waste into environmentally friendly bioplastics, plans to invest USD 83 million by 2026 to build a processing facility located in Knox County, Indiana, which will repurpose food waste from the county's watermelon, cantaloupe, and pumpkin industry.</p></li>
  <li><p>The facility, which is anticipated to begin construction in early 2024, will be developed in four phases and eventually cover an area of 200,000 sq ft. AgroRenew hopes to set up a 16,000 sq ft Bioplastics Innovation Center in the second phase.</p></li>
  <li><p>Launched in 2023, AgroRenew is a startup whose mission is to reduce the environmental impact of plastic production and create a circular economy model by producing 100% biodegradable plastics sourced from a blend of crop food waste, cover crops, and other bio sources.</p></li>
 </ul>
 
</div>

All Updates