Launch accompanies Sway’s successful $5 million seed round led by Third Nature Investments and includes investment from The Helm, Alante Capital, BAM Ventures, Superorganism, and other industry-aligned investors.
Innovations in how compostable packaging is made, along with new technology for composting, are among the forces working to increase the use of this type of packaging.
Program aims to accelerate the market adoption of seaweed-based alternatives developed by the winners of the Tom Ford Plastic Innovation Prize: Sway, Zerocircle and Notpla.
R&D funding accelerates the development of the first commercially viable polymeric material predominantly derived from seaweed for flexible packaging that is home compostable.
Reducing the use of plastic remains high on the agenda for investment, with biodegradable material and organic material cited as those with the most potential when it comes to exploring new packaging media.
Scheduled to commence operations in 2024, the 200,000-square-foot plant comes on the heels of three major acquisitions in the specialty molded fiber solutions space, and marks the company’s eighth such manufacturing facility.
