US$6.5 million funding boost for bioplastics specialist

US$6.5 million funding boost for bioplastics specialist

March 25, 2019
Press Release: Green Dot Bioplastics

New funding allows Green Dot to expand bioplastics materials portfolio and increase production capacity

Kansas, USA-based materials science company, Green Dot Bioplastics, has completed a U$6.5 million ‘Series A Preferred Round’ of financing. Fulcrum Global Capital led the investment round with the participation of existing and new investors, including Open Prairie through its Open Prairie Rural Opportunities Fund and iiM (Innovations in Motion).

Governments, advocacy groups and consumers are increasingly aware of the problems associated with traditional plastics and demanding more sustainable solutions. In response, the bioplastic sector is predicted to grow at a brisk pace of 18.8% CAGR to reach more than US$68 billion by 2024. To capitalize on this opportunity, Green Dot will use the funds raised to implement management’s strategic plan in key areas: accelerate organic growth, develop and commercialize new bioplastic products and uses, and invest in new IP and capabilities.

Green Dot Bioplastics is making plastics more sustainable by reducing the amount of petroleum-based feed-stocks, maximizing the use of renewable and reclaimed materials, and enhancing the performance of biodegradable materials. The company began formal operations in 2011, introducing the market’s first compostable elastomeric bioplastic – a soft rubber-like plastic that is strong, pliable and biodegradable. In 2013, it acquired a state-of-the-art research facility and commercial manufacturing plant. Green Dot now offers a full line of bioplastics and biocomposites used in footwear, textiles, home furnishings, electronics cases, pet supplies, toys, outdoor recreation, lawn and garden, horticulture and construction.

“There is an increasing global issue with plastic pollution coupled with a growing demand to reduce or eliminate our footprint of plastic pollution in our landfills and oceans,” commented Duane Cantrell, managing partner and CEO of Fulcrum Global Capital. “With the increasing global challenge of plastic pollution, we are excited to invest in a company using agricultural by-products to provide corporations with near-term solutions for truly biodegradable products and packaging that can reduce our use of chemical based plastics and begin to eliminate plastic pollution.”

Plastic Free World Conference & Expo 2019 will take place from Thursday 27 June to Friday 28 June, at the Kap Europa, Frankfurt Messe, Frankfurt, Germany. To register for this highly focused and solutions-driven event, please click here. For sponsorship and exhibition opportunities, please email peter@trans-globalevents.com

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