Amcor has announced its first batch of recipients for its Lift-Off seed funding initiative, with Bloom Biorenewables and Nfinite Nanotechnology getting the nod.
Launched in April, Amcor Lift-Off targets breakthrough, state-of-the-art technologies that will further advance the global giant’s initiatives to make the future of packaging more sustainable.
Bloom Biorenewables, a chemical and biomaterials company converting plant waste into packaging chemicals; and Nfinite Nanotechnology, an advanced materials company leveraging smart nanocoatings for recyclable and compostable packaging, will each receive investments of US$250,000, as well as access to Amcor’s best-in-class R&D resources.
“Amcor is continuously reimaging what is possible for packaging, and our aim is to drive sustainability through unrelenting innovation,” said Frank Lehmann, vice-president, Corporate Venturing and Open Innovation at Amcor.
“These initial investments are just the start, as Amcor will continue to invest in market disruptors, and ways to elevate expectations for our industry.
“We’ve been very impressed with what Bloom and Nfinite have to offer, having risen to the top of a highly competitive field to become the first recipients of Amcor Lift-Off funding. Both start-ups are rooted in a culture of innovation and creativity, looking to break boundaries and disrupt the packaging industry as we know it.
“Going beyond traditional borders, and uncovering the best and brightest ideas from the globe, will enable Amcor to take innovative leaps for the industry and environment.”
Bloom responds to two acute needs of the chemical and packaging industry – the sourcing of renewable carbon for packaging made from biomaterials, and circular end-of-life solutions for such packaging.
The Swiss-based start-up has developed a new type of polyester made from plants. The properties of this new biomaterial match both the mechanical and functional requirements needed for quality packaging, and provide a more sustainable end-of-life solution, being both recyclable and biodegradable.
Amcor’s investment in Bloom will support its continued growth and expansion, notably helping with the installation of new technical facilities and team hires.
“Lift-Off is an outstanding initiative accelerating both innovations and their implementation in the field of sustainable packaging,” said Remy Buser, co-founder and CEO of Bloom Biorenewables.
“Bloom is extremely proud and excited to join this program and co-develop tomorrow’s packaging solutions in collaboration with Amcor. We envision that a successful partnership will lead to offtake agreements and accelerate our market entry.”
Developed at the University of Waterloo, Nfinite is a venture-backed start-up in Canada, revolutionising nanocoating to provide superior performance for keeping products fresh, and enable the use of truly sustainable packaging at a commercial scale and cost.
Nfinite’s vapour deposited nanocoating is eco-friendly, solvent-free, ultrathin, multifunctional, and applied at low temperature in open air without a vacuum chamber.
This is seen by Amcor as a step-change in the field, unlocking new opportunities for process integration and scalability, offering endless breakthrough applications beyond packaging.
Amcor’s investment will help the start-up scale its team, as well as demonstrate, certify and adopt its innovations for broadscale commercial use in the packaging industry.
“We are excited to work with industry leaders the calibre of Amcor to rethink and redefine packaging for a circular economy,” said Chee Hau Teoh, CEO and co-founder of Nfinite Nanotechnology.
“Amcor’s expertise and support will enable us to streamline the integration of our nanocoating solution into existing packaging production ecosystems. With the support of partners such as Amcor, we will accelerate the global transition to eliminate plastic waste.”
Bloom and Nfinite represent the first two companies selected in the Amcor Lift-Off initiative, with more recipients to be announced soon.
