Global packaging company Amcor announced the first batch of recipients of its Amcor Lift-Off seed funding initiative.
Launched in April, Amcor Lift-Off targets technologies that contribute to the company’s initiatives to make the future of packaging more sustainable. This round of funding was awarded to companies focused on the development of bio-based and recyclable plastics and the use of nanotechnology coatings.
The winners of the first Lift-Off program are: Bloom Biorenewables Ltd, a chemicals and biomaterials company that turns plant waste into chemicals used in packaging; and Nfinite Nanotechnology, an advanced materials company, which uses smart nanocoatings to make packaging recyclable and compostable.
Each company will receive investments of US$250,000 and will have access to Amcor’s research and development resources.
Frank Lehmann, Vice President of Enterprise and Open Innovation at Amcor, said, “Amcor is constantly reinventing what is possible for packaging and our goal is to drive sustainability through relentless innovation.
“We have been very impressed with what Bloom and Nfinite Nanotechnology have to offer […] both start-ups are steeped in a culture of innovation and creativity, seeking to break down boundaries and disrupt the packaging industry as we know it.
Swiss startup Bloom claims to have developed a new type of polyester made from plants. The properties of this biomaterial correspond to the mechanical and functional requirements required for quality packaging and offer a more sustainable end-of-life solution, being both recyclable and biodegradable.
Remy Buser, co-founder and CEO of Bloom Biorenewables Ltd, said, “Bloom is extremely proud and excited to join this program and co-develop tomorrow’s packaging solutions together with Amcor. We anticipate a successful partnership will lead to off-take agreements and accelerate our market entry.
Developed at the University of Waterloo, Nfinite nanotechnology apparently uses nanocoating to keep products fresh and enable the use of sustainable packaging at commercial scale and cost. The company claims its vapor-deposited nanocoating is environmentally friendly, solvent-free, ultra-thin, multi-functional, and applied at low temperatures in open air without a vacuum chamber.
According to Nfinite Nanotechnology, this will be a sea change in the field, opening up new opportunities for process integration and scalability. Amcor’s investment would help the start-up grow its team as well as demonstrate, certify and adopt its innovations for large-scale commercial use in the packaging industry.
Bloom and Nfinite Nanotechnology are the first two companies selected under the Amcor Lift-Off initiative, with more winners to be announced shortly.