Amcor names first winners of Lift-Off seed funding scheme

SWITZERLAND – Multinational packaging company Amcor has revealed the first batch of winners for the Amcor Lift-Off seed funding initiative.

Launched in April, Amcor Lift-Off targets breakthrough, state-of-the-art technologies that will further advance Amcor’s initiatives to make the future of packaging more sustainable.

Amcor Lift-Off is part of the organization’s corporate venturing work focused on investing in innovative businesses and more sustainable packaging solutions to drive long-term growth.

The first recipients are chemical and biomaterials company Bloom Biorenewables and advanced materials company Nfinite Nanotechnology.

The two companies will each receive a US$250,000 investment and be given access to Amcor’s research and development resources.

Amcor Corporate Venturing and Open Innovation Vice-President Frank Lehmann said: “Amcor is continuously reimagining what is possible for packaging and our aim is to drive sustainability through unrelenting innovation.

“These initial investments are just the start, as Amcor will continue to invest in market disruptors and ways to elevate expectations for our industry.”

Lehmann added: “We’ve been very impressed with what Bloom and Nfinite Nanotechnology have to offer, having risen to the top of a highly competitive field to become the first recipients of Amcor Lift-Off funding.

“Both start-ups are rooted in a culture of innovation and creativity, looking to break boundaries and disrupt the packaging industry as we know it.”

Based in Switzerland, Bloom Biorenewables has developed plant-based polyester that meets the mechanical and functional requirements for quality packaging.

The company will use its funding to expedite its growth and expansion, including the installation of technical facilities and team hirings.

Remy Buser, co-founder and CEO at Bloom Biorenewables Ltd, said: “Lift-Off is an outstanding initiative accelerating both innovations and their implementation in the field of sustainable packaging.

“Bloom is extremely proud and excited to join this program and co-develop tomorrow’s packaging solutions in collaboration with Amcor. We envision that a successful partnership will lead to offtake agreements and accelerate our market entry.”

Meanwhile, Nfinite Nanotechnology is a venture-backed start-up that was developed at the University of Waterloo in Ontario, Canada.

Nfinite’s vapor deposited nanocoating is eco-friendly, solvent-free, ultrathin, multifunctional, and applied at low temperatures in open air without a vacuum chamber.

This will be a step-change in the field, unlocking new opportunities for process integration and scalability, and offering endless breakthrough applications beyond packaging.

The company will use Amcor’s investment to strengthen its workforce and commercialize its innovations in the packaging industry.

Chee Hau Teoh, CEO and Co-Founder at Nfinite Nanotechnology, said: “We are excited to work with industry leaders of the caliber of 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 such as Amcor, we will accelerate the global transition to eliminate plastic waste.”

Bloom and Nfinite Nanotechnology represent the first two companies selected in the Amcor Lift-Off initiative, with more recipients to be announced soon.

Liked this article? Subscribe to our regular email newsletters with the latest news insights from Africa and the World’s packaging and printing industry. SUBSCRIBE HERE.