A sustainable packaging materials company is preparing to launch a new biodegradable, shellfish-based food packaging foam.
Following the completion of a $2.5 million funding round led by venture capital firm At One Ventures, featuring investments from the Sony Innovation Fund and Regeneration. VC, the company Cruz Foam are looking to increase the scale of their operations.
“We started Regeneration.VC to invest in disruptive, early-stage companies like Cruz Foam, with the potential to catalyze the transformation of traditional, linear supply chains into circular economy platforms,” said Michael Smith, General Partner at Regeneration.VC.
“Our shared mission to address the climate emergency and regenerate natural systems makes us natural partners, and our team is already hard at work enabling this important environmental breakthrough.”
Cruz Foam are now preparing for the commercial launch of their new biodegradable packaging: a shellfish-based foam intended to replace traditional polystyrene food packaging.
“Cruz Foam is taking on plastic pollution at the root – by inventing a versatile, earth-compatible foam with disruptive economics, requiring no technical recycling to return to the nutrient cycle,” said Tom Chi, Founding Partner for At One Ventures.
“We believe this approach will help set the standard for the future of packaging and sustainable materials.”
The company claims their patented shellfish-based biopolymer packaging matches the technical qualities of petroleum-based foams at a similar price.
The foam is made from chitin, a material notably produced as waste in the shellfish industry, and biodegrades within 60 days with no adverse effects on composting standards.
“Pollution due to polystyrene is a major issue,” said Austin Noronha, Regional Managing Director at Sony Innovation Fund.
“With a platform technology that can empower existing materials manufacturing processes as well as offer a wide variety of foam properties, Cruz Foam fundamentally changes the paradigm by creating a fully-compostable equivalent.
“We are focused on supporting companies that develop technologies to address global environmental issues such as climate change, resources, chemical substances, and biodiversity and look forward to partnering with the team at Cruz Foam as they bring an environment-friendly solution to industries including electronics, appliances, and durable goods.”
Cruz Foam now plans to expand following the successful funding for their shellfish-based packaging, developing technological solutions to upscale their operations to a global level with both corporate partners and customers.
However, is the new packaging an innovative move forward that cuts out unnecessary plastic or a regressive move which relies upon animal products?
The extent to which the shellfish-based matter will impact vegetarian, vegan, and religious communities will, no doubt, be judged by demand across the free market.
