Mitsubishi Chemical Holdings Corporation (MCHC)
has co-invested in Lactips’ technology to produce soluble bioplastic with zero environmental trace. Lactips has raised 13 million euros in new capital. The new infusion of capital will enable Lactips to ramp up its product development and industrial facilities.
This round was led by Bpifrance's SPI (Societe de Projet Industrie!) fund and Diamond Edge Ventures (DEV), the innovation investment arm of Mitsubishi Chemical Holdings Corporation (MCHC).
Innovative Solution for Curbing Plastic Waste
Lactips now has the financial resources needed to drive the development of its innovative and responsible bio sourced, biodegradable and water-soluble solution, providing an alternative for numerous industrial plastics.
Lactips designs, develops and markets innovative and natural plastics based on a natural raw material with zero environmental impact. With this key round of fundraising, Lactips will accelerate the industrialization of its plastic pellets and films to offer a wider selection of fully biodegradable and recyclable bio sourced packaging. Lactips will press forward with its breakthrough in the packaging products, to respond to the issue of micro-plastics ending up in the oceans. In addition, Lactips will be looking to conquer certain packaging markets in the food and construction sectors as well as single-use packaging.
“The 13 million euros fundraising is structural and strategic at the same time, thanks to these new shareholders. More than ever, our industries need new solutions to respond to future economic challenges tied to the goal of reducing the environmental impact of plastics. Since our company's inception, we have successfully demonstrated that our innovative material can cover a wide range of applications. This supportfor our mission, built around a vision of an economy that is more respectful of the environment and human health, will enable us to rapidly transition to production phase, while continuing to develop the planet's greenest plastic
”, states Marie-Hdlene GRAMATIKOFF, CEO and co-founder of Lactips.
Offering Solutions for Sustainable Future
Lactips is being supported by MCHC, which is committed to develop and offer solutions for a sustainable future. In Japan, which aims to accelerate the introduction of marine biodegradable polymers, this support will be not only financial, but also industrial and commercial
“The cooperation with Lactips underscores our direction towards circular economy and our commitment to Europe as an important market. It perfectly complements our growing portfolio of sustainable materials. Supporting the development of environmentally friendly products like those of Lactips aligns with our vision of KAITEKI, which signifies the sustainable well-being of people, society and our planet Earth
”, says Ansgar POHL, President and CEO Mitsubishi Chemical Europe.