World’s leading packaging manufacturer supplies US $250,000 to two start-ups with groundbreaking innovations for a more sustainable future of packaging
ZURICH, September 6, 2022 /PRNewswire/ — Amcor (NYSE: AMCR, ASX: AMC), a global leader in the design and manufacture of responsible packaging solutions, has announced the first group of recipients for its groundbreaking Amcor Lift-Off seed funding initiative. Launched in April, Amcor Lift-Off targets groundbreaking, cutting-edge technologies that will further advance Amcor’s initiatives to make the future of packaging more sustainable.
After several rounds of pitching, the winners of the first lift-off program are:
- Bloom Biorenewables GmbH: A chemical and biomaterials company that converts plant waste into packaging chemicals; and
- Finite nanotechnology: An advanced materials company that uses intelligent nanocoatings to make packaging recyclable and compostable.
Every company receives investment from US $250,000 and access to Amcor’s world-class research and development resources.
Frank LehmannVice President, Corporate Venturing and Open Innovation at Amcor, said: “Amcor is constantly re-imagining what’s possible for packaging, and our goal is to drive sustainability through relentless innovation. These initial investments are just the beginning as Amcor will continue to invest in market disruptors and ways to raise expectations for our industry.
“We have been very impressed with what Bloom and Nfinite Nanotechnology have to offer as they have risen to the top of a highly competitive field and become the first recipients of Amcor Lift-Off grants. Both startups are rooted in a culture of innovation and creativity to push boundaries and disrupt the packaging industry as we know it. Pushing traditional boundaries and uncovering the best and brightest ideas from around the world will allow Amcor to make innovative leaps for the industry and the environment.”
Bloom technology responds to two acute needs of the chemical and packaging industries: the sourcing of renewable carbon for packaging made from biomaterials and circular end-of-life solutions for such packaging. The Swiss start-up has developed a new type of polyester made from plants. The properties of this new biomaterial meet both the mechanical and functional requirements required for quality packaging, offering a more sustainable end-of-life solution as it is both recyclable and biodegradable. Amcor’s investment in Bloom will support the company’s continued growth and expansion, particularly assisting with the installation of new technical facilities and hiring of teams.
Remy BuserCo-founder and CEO of Bloom Biorenewables Ltd, commented: “Lift-Off is an outstanding initiative that accelerates both innovation and its implementation in the field of sustainable packaging. Bloom is very proud and excited to join this program and work with Amcor to develop tomorrow’s packaging solutions. We anticipate this to be a successful partnership, leading to off-take agreements and accelerating our market entry.”
Developed on University of WaterlooNfinite Nanotechnology is a venture backed startup in Canadarevolutionizing nano-coating to provide superior performance for keeping products fresh and enabling the use of truly sustainable packaging on a commercial scale and at a commercial cost. Nfinite Evaporated Nano Coating is eco-friendly, solvent-free, ultra-thin, multifunctional, and applied at low temperature outdoors without a vacuum chamber. This will be a game-changer in this space, opening up new opportunities for process integration and scalability, and offering endless game-changing applications beyond packaging. Amcor’s investment will help the start-up grow its team and demonstrate, certify and launch its innovations for wide commercial use in the packaging industry.
Chee Hau TeohCEO and co-founder of Nfinite Nanotechnology said: “We’re excited to partner with industry leaders like Amcor to rethink and redefine packaging for a circular economy. 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 like Amcor, we will accelerate the global transition to eliminate plastic waste.”
Bloom and Nfinite Nanotechnology are the first two companies selected under the Amcor Lift-Off initiative, with additional recipients to be announced shortly. Amcor Lift-Off is part of the organization’s corporate venturing work, which focuses on investing in innovative businesses and more sustainable packaging solutions to drive long-term growth. Earlier this year, Amcor announced a strategic investment in PragmatIC Semiconductor, a global leader in ultra-low-cost electronics that can be packaged. This followed an earlier investment in ePac Flexible Packaging in 2021.
To learn more about Amcor’s corporate venturing and to submit entries focused on recycling systems, alternative barriers, paper-based solutions, smart and connected packaging, biomaterials or new industry business models for subsequent lift-off programs, click here: https://www.amcor.com/about/ventures
About Amkor
Amcor is a global leader in developing and manufacturing responsible packaging solutions for food, beverage, pharmaceutical, medical, home and personal care and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands and enhance supply chains through a range of flexible and rigid packaging, specialty cartons, closures and services. The company is focused on making packaging that is increasingly lighter, recyclable and reusable, and that uses more and more recycled materials. In fiscal 2022, Amcor generated 44,000 employees 15 billion dollars in annual sales of operations spanning 220 locations in 43 countries. NYSE: AMCR; ASX: AMC
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