Bioform Technologies secures US$5M in funding for its bio-based plastics

CANADA – Bioform Technologies, a spin-off from UBC, has recently secured a significant US$5 million seed investment from Suzano Ventures, the corporate venture capital arm of Suzano, the world’s largest market pulp producer.

This infusion of funds is poised to turbocharge Bioform’s efforts in developing bio-based plastic alternatives and leveraging wood pulp-reinforced hydrogels, with Suzano’s wood pulp fibre playing a pivotal role.

Bioform’s breakthrough technology enables the swift production of wood pulp-reinforced hydrogels, facilitating the creation of high-performance plastic alternatives.

These materials boast the potential to be home-compostable or recyclable through existing paper recycling processes, all while eliminating the need for fossil-based inputs.

Versatile in nature, Bioform’s technology holds promise across various applications, including paper-recyclable thermoformable films for packaging and compostable heat-sealable films for pouches, agriculture, and garbage bags.

What sets Bioform apart is its commitment to sustainability. Its products offer an impressive 80% reduction in carbon footprint compared to conventional single-use plastics.

Moreover, Bioform’s technology delivers enhanced product performance, surpassing conventional plastics in areas such as tensile strength and oxygen or water vapour permeability.

Chris Clark, CEO of Bioform Technologies, expressed the company’s ambitious vision: “Our aim is to provide sustainable alternatives to single-use plastics with the agility of paper and the affordability of plastic.

“By leveraging the speed and efficiency of pulp and paper manufacturing, we are poised to make substantial strides in the market.

“The validation and strategic investment from Suzano Ventures not only provide us with a crucial link to the world’s largest market pulp producer but also grant access to Suzano’s unparalleled expertise, enabling us to expedite production efficiencies and cost reductions.”

Paula Puzzi, Senior Manager at Suzano Ventures, echoed the sentiment: “We are deeply impressed by Bioform’s technology and its potential to revolutionize the industry.

“Addressing the global issue of single-use plastic waste requires scalable solutions that compete economically with traditional plastics.

“Bioform’s utilisation of renewable materials and integration of established industrial processes from the pulp and paper sector position it as a disruptive force in supply chains, offering a viable alternative to fossil-based materials.”

Meanwhile, Suzano Ventures has forged a strategic partnership with Japan’s Mitsui & Co., focusing on developing new bioeconomy businesses harnessing sustainable biomass.

Under a non-exclusive agreement, this collaboration capitalises on Suzano’s extensive eucalyptus farms in Brazil and leverages residual by-products from the pulp production process to pioneer next-generation bioproducts.

While the initial phase does not entail capital expenditure commitments, both parties foresee potential joint investments following the project’s initial stages.

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