In the United Kingdom, University of Sheffield bioplastics spin-out Floreon has secured £250 million (US$320 million) from the Centre for Process Innovation to scale up its polylactic acid bioresin technology.
According to Sustainable Plastics, Floreon’s 70-90% plant-based PLA uses corn and sugarcane as feedstock and is stronger than other PLA materials on the market. The company’s portfolio also includes a halogen-free bioplastic alternative to acrylonitrile butadiene styrene that is the first bioplastic to achieve UL94V-0 flammability certification.
“This unique company has worked hard to develop revolutionary solutions for an industry that still relies heavily on fossil fuels to produce everyday items,” said Hannah Wade, managing director at CPI Enterprises, a British technology and innovation social enterprise headquartered in the North East of England.