Seaweed’s continued surge: Kelpi slashes fossil fuel-based packs with algae-based bioplastic
13 Feb 2023 --- Kelpi has received £3 million (US$3.6 million) in fundraising to advance its seaweed-based bioplastic coatings. The climate tech innovator says the funding round will bring environmentally sustainable packaging for the F&B and cosmetics sectors closer to supermarket shelves.
“This landmark investment enables Kelpi to scale up our pioneering work using seaweed to create bioplastic packaging with the barrier properties required by clients,” says Kelpi CEO and co-founder, Neil Morris.
“Kelpi can now play a key role in eliminating plastic pollution and ending our dependence on fossil fuels to create single-use packaging.”
Replacing fossil fuels
Furthermore, the company’s “unique” coatings will enable recyclable and home- or industrially-compostable packaging to replace single-use fossil fuel plastics, which take hundreds of years to decompose.
Kelpi’s seed round was led by Science Creates Ventures and Green Angel Syndicate, with funding from One Planet Capital and follow-on investment from Bristol Private Equity Club and private angel investors. The round includes £665,000 (US$800,0000) of grant funding from Innovate UK’s Combined Investor Partnership.
Seaweed provides a valuable source of carbohydrates for biomaterials.Dr. Catherine Fletcher, principal of Science Creates Ventures, says: “Kelpi stood out to us as a strong combination of world-leading scientific innovation with deep entrepreneurial experience.”
“They’re using deep tech to address a highly valuable commercial challenge and we’re excited to be backing the company to scale up its solutions in the vital area of reducing fossil fuel dependence in plastics.”
Recycling after use
The plastic-alternative solutions provider will use the funds to conduct manufacturing pilots for their proprietary coatings for paper and card.
Over the last 2.5 years, the company has developed high-performance materials from seaweed, with “uniquely strong” water barrier, oxygen barrier, grease and acid resistance.
The company is already working with global leaders in F&B and cosmetics, tuning the exact properties of the coatings to meet the needs of specific clients. In many cases, Kelpi materials can match or even exceed the performance of fossil fuel plastic, but in a material that is renewably sourced, marine-safe, compostable and enables the packaging to be recycled after use.
Seaweed boom
Seaweed provides a particularly valuable source of carbohydrates for biomaterials. It grows prolifically without the need for fertilizers, land or fresh water – offering benefits over alternative plants from which bioplastics can be made. It soaks up carbon as it grows, de-acidifying and re-oxygenating the ocean.
Last year, Notpla expanded its portfolio of seaweed-based and plastic-free packaging solutions with Notpla Paper, made with 30% seaweed by-product.
PackagingInsights sat down with Pierre Paslier, founder and co-CEO of Notpla. “Our prime focus is on applications that are consumed quickly on-the-go because that usually leads to a higher risk of packaging entering the environment.”
As part of the round, Kelpi won grant funding from the Future Economy Fund through the Combined Investor Partnership program delivered by SETsquared and funded by Innovate UK.
“Our network of specialist members was impressed with Kelpi’s team and technology and their pioneering approach to developing biopolymers from renewable feedstocks like seaweed. At scale, the Kelpi approach will play a vital role in reducing fossil fuel dependency, addressing climate change and impacting plastic pollution,” concludes Cam Ross, CEO of Green Angel Syndicate.
Edited by Natalie Schwertheim
