US – US-based non-wood agricultural pulp and sustainable packaging company Genera Energy has acquired sustainable molded fiber packaging manufacturer MxG Fiber.
The acquisition is part of Genera’s overall growth strategy with the terms of the deal not disclosed.
It also allows Genera to incorporate the knowledge and assets of MxG into its efforts to supply sustainable fiber packaging to the rapidly growing U.S. market.
Founded in 2010, MxG manufactures reliable, high-quality, cost-effective, safe, and fully traceable packaging.
MxG management team leveraged a USDA program to plant over 20,000 acres of miscanthus in four Midwest states.
Over the last decade, the team developed critical expertise in commercializing sustainable biomass crops, including the establishment, management, harvesting, storage, and processing of several perennial crops.
MxG’s research and development efforts led to several commercial product lines based on miscanthus.
The team built three manufacturing facilities in the Midwest over the last decade and brought several agricultural fiber products to market, including the first molded fiber products produced from miscanthus.
The company’s compostable molded fiber packaging can provide consumers with packaging that is freezer safe, microwaveable, and suitable for uses up to 350F, which once used, is also compostable in industrial compost facilities.
The acquisition comes at a time when packaging traceability is important for the security of products that are increasingly threatened by counterfeiting and theft.
Genera CEO Kelly Tiller said: “Our acquisition of MxG Fiber accelerates Genera’s pursuit of innovative ways to decarbonize our economy using regenerative, sustainable agriculture.
“Matt’s passion for sustainability, combined with his deep expertise in perennial biomass crop production, product development, and manufacturing, really enhances the Genera team.”
As agreed, MxG CEO Matt Griswold joins the Genera team as vice-president and will focus on molded fiber products and market development.
Griswold said: “I am excited to continue the MxG mission of expanding the use of perennial crops and replacing single-use plastics under the Genera name.”
Genera operates the largest vertically integrated non-wood agricultural pulp and molded fiber manufacturing facility in North America.
The company supplies customers with domestically sourced and manufactured non-wood pulp and molded fiber products made from locally grown fiber crops and agricultural residues.
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