Uluu’s bioplastic is home compostable, lightweight, and biodegrades in marine environments. The company is eyeing applications in cosmetics, fashion, packaging, and automotive.
“After four years’ work developing this technology, including two years’ running our pilot plant, we’re excited to take this next step and start delivering meaningful volumes of our materials to customers,” Michael Kingsbury, co-founder and CEO at Uluu, tells Packaging Insight. “The demonstration plant is a critical step in showing Uluu can scale to compete with and replace fossil plastics truly.”
The funding round was led by Germany’s Burda Principal Investment, with participation from Main Sequence, Novel Investments, and Startmate.