Scottish shellfish plastic firm closes funding round

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In Scotland, marine biotech company CuanTec has closed an investment round that will enable it to scale up production of its bioplastic produce packaging. Financial terms were not disclosed.

Sky Ocean Ventures and Scottish Enterprise led the round. The funds will also be used to boost headcount at CuanTec’s lab at the European Marine Sciences Centre at Dunstaffange.

Cuantec, a Strathclyde University spin-out, has developed a way to produce antimicrobial, compostable, plastic food wrap from crustacean shells. The company produces chitin from the shells using fermentation.

“The world has awakened to the problems that we have created with single use plastic. CuanTec are working to provide compostable alternatives which will eliminate single-use plastic from the food industry,” says Cait Murray-Green, CEO of CuanTec.