Scaling seaweed packaging: Sway launches resin after bagging US$5M seed funding
All image credits: Sway.
16 Feb 2024 --- Sway, a start-up specializing in regenerative alternatives to plastic packaging, has developed Thermoplastic Seaweed resin (TPSea), a home-compostable material made from seaweed and plants. The California-based company says its technology allows seaweed to replace flexible plastics on a large scale for the first time.
The unveiling of TPSea comes on the heels of Sway’s closure of a US$5 million seed funding round, led by Third Nature Investments, with participation from The Helm, Alante Capital, BAM Ventures, Superorganism and other investors.
This capital injection is expected to accelerate the production and adoption of Sway’s seaweed-based product portfolio and catalyze adoption by beauty, fashion, food and home goods brands such as J.Crew, Burton and others associated with the Tom Ford Plastic Innovation Prize.
Sway’s TPSea resin is designed to integrate into existing plastic manufacturing systems, offering a scalable solution to environmental issues caused by plastic pollution.
“The packaging sector is the largest generator of single-use plastic waste worldwide. Sway’s evolving product portfolio made with TPSea includes flexible packaging applications such as polybags, retail bags and food wrappers for consumer brands, representing approximately 30% of all single-use plastic packaging,” details the company.
“This golden pellet can go anywhere plastic goes, with a couple of big differences. TPSea comes from the ocean and is designed to return to the soil.”
Sway's new line of polybags made from TPSea Flex film.“Full of golden potential”
In January, the start-up showcased its thermoplastic seaweed collection at Biofabricate 2024 in Paris, the premier event for innovators, brands and investors driving the transition to biomade products. Additionally, Sway’s victory in the Tom Ford Plastic Innovation Prize powered by Lonely Whale helped validate its product and business model across scale, cost, performance, biological degradation and environmental and social impact metrics.
In 2021, Sway also won the Beyond the Bag Challenge sponsored by Closed Loop Partners and a consortium of major retailers.
“Clean oceans, abundant biodiversity and thriving coastal economies all intertwine with Sway’s success as we accelerate production in 2024,” says Julia Marsh, CEO and co-founder of Sway. “We believe everyday materials should help replenish the planet from sea to soil. The launch of our thermoplastic seaweed materials and an influx of new capital targeted at scaling production signifies tangible progress toward a more circular future.”
The company shares that TPSea “clears previously unsurpassed hurdles in replacing petroleum-based pellets.” When subjected to heat, the resin melts and stretches, akin to traditional thermoplastics. This characteristic allows TPSea to “seamlessly” integrate into current plastic manufacturing systems, paving the way for widespread adoption.
The resin forms the base of Sway’s inaugural product, TPSea Flex Film, which pairs seaweed with advanced materials science and is “well suited” for various packaging applications across industries, from fashion to beauty to food.
“Regenerative practices and sustainable packaging are active focus areas for J.Crew Group. We’re thrilled to see Sway’s steady progression toward market-scale production that will empower brands like ours to transition into next-generation materials,” Doug Forster, chief sourcing officer at J.Crew Group, states.
Meanwhile, the CEO of EcoEnclose, Saloni Doshi, comments: “Our expansive network of eco-conscious brands is always looking for restorative alternatives to today’s mainstream packaging materials. We see this demand across all industries, from food to fashion to cosmetics.”
“With tangible shifts in customer values, brand sustainability commitments and packaging legislation, it’s clear that innovation leaders like Sway have a keen market ready to adopt their truly unique, thoughtfully produced, bio-based materials.”
By Radhika Sikaria
