Lignin Industries secures investment to scale bio-based thermoplastics
Swedish greentech Lignin Industries has received €3.9 million (US$4.4 million) in funding from over two dozen investors to bring its patented bio-based thermoplastic from lignin to market. Lignin is naturally found in plants, like trees, and it is said to be the second most abundant organic material on the planet.
Dr. Christopher Carrick, founder and chair of the Board at Lignin Industries, says: “Lignin Industries exists to show another way is possible: that by looking to the natural world, we can positively reform the global plastic industry.”
“Our proprietary process takes an organic material and upcycles it into a sustainable, high-performance bio-based thermoplastic. With abundant feedstock and the ability to fit within existing plastics infrastructure and processes, widespread adoption is underway.”
Fredrik Malmfors, CEO at Lignin Industries, adds: “We are enjoying commercial cut-through, onboarding new customers while fulfilling repeat orders from existing partners and customers.”
“Feedback is positive — Renol works in the field and commercially — and with our continued investment in R&D, we look forward to further optimizing its use cases and applications, as seen in recent collaborations with Scania and Vinnova, among other key strategic partners. The next few months is about bringing additional products to market and scaling our commercial operations.”
Commercializing bio-based plastic
Lignin Industries further highlights its partnership with the UK-based compounder and distributor Hellyar Plastics. Lignin Industries says that by working with Hellyar, it is collaborating with customers spanning sectors such as consumer electronics, home accessories, and appliances, as well as in construction.
Lignin is naturally found in plants and it is said to be the second most abundant organic material.The company is now in advanced dialogue with numerous manufacturers and at the letter of intent stage with category leaders.
Lignin Industries’ e-commerce bags, produced with lignin-based plastics mixed with recycled plastics, are now being sold to fashion brands. According to the company, these bags deliver the same functionality as conventional fossil plastic bags but with lower CO2 emissions.
In a recent interview with Packaging Insights, Carrick said that as more companies start working with bio-based plastics, acceptance will increase and its place in the industry will be normalized.
Recently, CornNext launched a bio-based plastic material derived through a fermentation process that utilizes cornstarch and natural enzymes.
Meanwhile, scientists in Finland and Spain developed a bio-based packaging solution for cold-chain food transport by combining polyethylene glycol with a cellulose structure and pomegranate peel powder.
