To help scale up its compostable, seaweed-based packaging, B’Zeos has secured over €5 million in total raised equity and grant funding through a seed round led by Faber and supported by International Chemical Investors Group (ICIG)’s venture capital unit.
Seaweed is quick to grow and does not rely on land or fresh water in the cultivation process; it also claims to sequester CO2 and avoid microplastics completely. As such, B’ZEOS recommends it as a packaging material.
Reportedly, its seaweed-based solutions are fully biobased, home-compostable, and compatible with existing packaging production lines. They are expected to offer a ‘distinct advantage’ over existing bioplastics by matching the functionality of virgin plastics ‘without the environmental cost’.
Also, they are set to benefit various industrial sectors and meet various packaging-related needs while helping corporate partners pursue their sustainability goals.
“We’ve developed a truly sustainable seaweed-based packaging solution, derived from a variety of seaweed species,” explained Guy Maurice, founder and CEO of B’ZEOS. “We’re not just focused on developing an eco-friendly solution; we are providing an industry-ready, scalable alternative for packaging manufacturers globally.
“Backed by strategic investors and leveraging our extensive experience in the packaging sector, B’ZEOS is poised to lead the way in transforming the industry with our innovative materials.”
Five paid pilots have been conducted with B’ZEOS materials to date, and B’Zeos has collaborated with industry partners like Nestlé. Going forward, it plans to conduct additional pilot schemes and anticipates reaching a test-shop with its partners.
By partnering with Faber and ICIG, B’Zeos plans to drive product development, meet industry demands quickly, and launch commercial production for corporate partners. It hopes to benefit from Faber’s ‘commitment to advancing ocean-based technologies’, while refining its products and boosting production with ICIG’s expertise in compounds.
B’Zeos also aims to build on its technology readiness level (TRL), raising it from TRL7 to TRL8.
“As global demand for sustainable packaging solutions accelerates, we’re excited to partner with B’ZEOS and support their mission of transforming the packaging industry at scale,” continued Rita Sousa, partner at Faber. “Our investment aligns with our commitment to back ocean-based innovations that have the potential to drive positive environmental change and reshape industries for a sustainable future.”
“B’ZEOS is pioneering an exceptional approach to sustainable materials, and we recognize that potential,” added Dr. Pelin Yilmaz, investment director at ICIG Ventures. “Our partnership with B’ZEOS, complemented by the expertise of our compounding platform, allows us to transition towards fossil-free, compostable packaging.
“We were impressed by B’ZEOS’ tech-oriented team. Their industry expertise enables them to understand the sustainability needs and requirements of the packaging sector, creating solutions that are both robust and versatile.”
This latest round builds upon previous funding from Sustainable Ocean Alliance and biotope, alongside private and public grants from The Research Council of Norway, Innovation Norway, the Global Seaweed Coalition, and the Eureka Network’s Eurostars programme.
In another funding round, Notpla raised the equivalent of over €23,000,000 – double its initial target – and announced its plans to scale its seaweed-based packaging in the United States. We recently spoke to the company to learn more about this achievement – how it hopes that manufacturing within the US will save the environmental impacts of shipping, increase international accessibility, and help replace 1 billion units of single-use plastic by 2030.
Kelpi has also raised over €5,000,000 this summer. It plans to apply its seaweed-based barrier coatings to paper and card packaging in the food, beverage, cosmetics, and personal care sectors. It aims to advance manufacturing pilots, gain regulatory approval for its proprietary coatings, and continue the commercial roll-out of its technology.
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