TAGS: Sustainability / Natural Coatings
Nfinite Nanotech announces the completion of a USD 6.5M SEED round. It is led by Collateral Good, with participation from Suzano Ventures as a strategic investor. Other investors include FTW Ventures, MaRS IAF, Overlay Capital, Ponderosa, and Republic Capital, including non-dilutive funding from Next Generation Manufacturing Canada. Nfinite Nanotech is a creator of plastic-alternative nanocoatings.
Tackling Plastic Packaging Problem
Nfinite Nanotech is tackling the plastic packaging problem with its advanced material nanocoating. It enables the use of truly sustainable packaging on a commercial scale. Nfinite’s nanocoating is an ultrathin and high-performance barrier coating. It maintains the recyclability and compostability of sustainable packaging. It also preserves the freshness and shelf life of products.
Chee Hau Teoh, CEO of Nfinite Nanotech, said, “
This funding will catalyze our growth, enabling us to scale our operations, enhance our R&D capabilities, and solidify our market position as pioneers in eco-friendly packaging. We are committed to leveraging this opportunity to deepen our partnerships with our customers and continue delivering solutions that meet the urgent need for sustainability in our world today.”
400 million tonnes of plastic waste are generated every year globally. The market for sustainable packaging is expected to reach USD 737.6 billion by 2030. The consumer packaged goods (CPG) companies and packaging manufacturers all the world over have united around a shared commitment to improve sustainability. It will also minimize the environmental impact of packaging in the same timeframe.
Michael Kleindl, managing partner of Collateral Good, said, “
Nfinite’s approach to sustainable packaging addresses the critical barrier problem that has hindered the adoption of eco-friendly materials. We have tremendous confidence in Nfinite’s team as it continues to revolutionize the sustainable packaging industry with high-performance nanocoating solutions that make packaging sustainable and keep products fresh.”
Paula Puzzi, senior manager of Suzano Ventures, said, “
We want to expand the use of sustainable packaging, and Nfinite’s coatings are pilot-proven and set to play a meaningful role in enabling CPG manufacturers and packaging producers to minimize environmental impact. As a company that has been operating for over a hundred years bringing more sustainable solutions to society, we are proud to partner with the Nfinite team in its journey to build a greener future, through paper-based packaging.”
Sustainable Packaging Solutions
Nfinite is actively working with some of the largest CPG companies and packaging manufacturers in the world.
Frank Lehmann, vice president Corporate Venturing and Open Innovation of Amcor, said, "
As a global packaging leader, Amcor is proud to have partnered with, and invested in, Nfinite early in their journey through our Amcor Lift-Off program. Nfinite shares our commitment to creating a circular economy, and we look forward to continuing to work with them to develop innovative ways to deliver more sustainable packaging solutions."
Hiroki Taenaka, project lead, Smart Life Creation Group, Mitsubishi Corporation (Americas), said, “
Collaborating with Nfinite has been a rewarding experience, and its commitment to success is evident in the results. We are excited to see how our partnership will continue to evolve and drive innovation in the industry.”
Source: Nfinite Nanotechnology