More than 850 Aussies have backed Planet Protector Packaging's mission to save the ocean from polystyrene, with a succesful crowdfunding campaign raising $1.25 million.
Multiple award-winning Planet Protector Packaging, the innovator behind the Woolpack insulated packaging solution developed to eliminate expanded polystyrene (EPS) from cold chain shipping, embarked on a crowdfunding campaign earlier this year, in a bid to fund its expansion.
The campaign closed on 22 July, with 855 people committing $1.25m to support the company's endeavours.
Planet Protector Packaging CEO Joanne Howarth said she was delighted that 855 Australians thought highly enough of their products to invest.
Howarth said the crowdfunding idea was sparked following requests from individuals to invest in Woolpack once they learned about it and the benefits it brings to the environment.
“I knew people were interested in investing in our company because whenever I told someone about our products, they always asked how they could invest. With Government doing away with single use plastic and more and more people wanting to do the right thing, I know our company is on the right path,” she said.
“Our products are truly ground-breaking and make sense. We use waste wool that is destined for landfills, and we create environmentally responsible packaging that replaces expanded polystyrene in packaging supply chains. It gives sheep farmers another income stream, stops filling our landfills, and saves our oceans. For our clients, it’s another way they can tick the environmentally responsible box and this is what all businesses are looking to achieve as the world transitions to a circular economy.”
With annual revenues over $5 million, the company is poised to scale and will invest the funds raised money into expanding its operations.
Howarth says Planet Protector is working to bring processing back onshore. This will create jobs, support regional communities and farmers, and create a 100 per cent sustainable alternative to EPS.
The company currently sends its wool to China for processing because there are no capabilities in Australia.
Howarth said: “By bringing wool processing back home to Australia, it will drive wool manufacturing into the future. The facility will not only create jobs but also reduce our reliance upon China.”
Planet Protector Packaging has to date replaced over 7.5 million EPS shipping boxes; its clients include many iconic brands such as Blackmores, Baxters, The Dinner Ladies, and more.