While there are a number of innovations being developed that offer more sustainable alternatives to single-use plastic, the challenge is scaling production and reaching cost competitiveness. By using renewable material and pre-established industrial processes and machinery from the pulp and paper sector, Canadian material science startup Bioform Technologies replaces the need for fossil-based materials.
Raises $5M seed funding
Bioform Technologies just secured $5 million in seed funding from Brazilian VC Suzano Ventures, the corporate venture capital arm of Suzano, the world’s largest market pulp producer. Recently, the VC backed Allotrope Energy. Also, similar startups such as Sparxell and Traceless Materials raised investments in the same category.
The funding will enable the company to accelerate the development of its novel bio-based plastic alternatives, realise a demonstration facility to pilot the manufacturing process and expand its team and capabilities.
Bio-based plastic alternatives
Bioform’s technology was developed at the University of British Columbia by co-founders Jordan MacKenzie and Mark Martinez. Its technology rapidly produces wood pulp-reinforced hydrogels to create high-performance plastic alternatives, which can be made using Suzano’s wood pulp fibre as a key input.
Bioform’s materials have the potential to be home compostable or recycled through existing paper recycling processes and do not require fossil-based inputs. The technology is claimed to be highly versatile and has a number of applications where it could replace conventional single-use plastics, including paper recyclable thermoformable films for packaging applications and compostable heat-sealable films for pouches, agriculture, and garbage bags.
As per the company, its products offer an 80% lower carbon footprint than conventional single-use plastics. Its technology has enhanced product performance to conventional plastics in areas such as tensile strength and permeability for oxygen or water vapour.
Chris Clark, Chief Executive Officer of BioformTechnologies, said “Our goal is to produce sustainable alternatives to single-use plastics at the speed of paper and at the cost of plastic. We are harnessing the speed and efficiency of pulp and paper manufacturing to make swift and impactful steps into the marketplace. The technical validation and strategic investment from Suzano Ventures gives us a link to the world’s largest market pulp producer. We can also access Suzano’s world-leading expertise to help us rapidly accelerate the production efficiencies and cost reductions needed to make a significant reduction in the reliance on single-use plastics.”
Paula Puzzi, Senior Manager at Suzano Ventures, said: “We’ve looked closely at Bioform’s technology and we see great promise in their technology and ability to disrupt the industry. Around the world, there are a number of innovations being developed that each offer more sustainable alternatives to the mountains of single-use plastic that we throw away each year, polluting our cities and soils, rivers, and seas. The great challenge is scaling production and getting to cost competitiveness versus cheap single-use plastic. By using renewable material and harnessing established industrial processes and machinery from the pulp and paper sector, we believe that Bioform has the opportunity to disrupt established supply chains and rapidly replace the need for fossil-based materials.”
