GERMANY – Bioeconomy startup Traceless Materials has raised US$38.7 million (€36.6m) to scale production of its eco-friendly plastic alternative.
The latest round was led by UB Forest Industry Green Growth Fund (“UB FIGG”) and SWEN CP’s Blue Ocean Fund, with participation from GLS Bank, Hamburg, Hamburger Sparkasse, Planet A Ventures, High-Tech Gründerfonds (HTGF), and b.value.
The company intends to use the funds to expand the production capabilities of its innovative biomaterial technology to an industrial scale.
In addition, the financing will catalyze the company’s mission to combat plastic pollution and reduce carbon emissions in the plastics industry.
“To implement our innovative technology for the first time on an industrial scale, we plan to build a demonstration plant in Hamburg, Germany,” says Traceless CEO and co-founder Anne Lamp.
“The aim is to substitute several thousand metric tons of conventional plastic each year, thus saving considerable CO2 emissions, fossil resources, water and agricultural land.”
Founded in 2020, Traceless’s material is entirely bio-based, made using agricultural industry plant residues. It is processed into a granulate form that can be integrated into standard technologies in the plastics and packaging industry.
This versatility enables its use in various end products, ranging from rigid molded parts and flexible films to paper coatings and adhesives.
Lamp elaborates on the material’s sustainability: “Our technology supports the transition from fossils to renewable materials and also avoids direct food conflicts.
“Like natural materials, it is compostable, for example, in a home compost. Unlike virgin plastics, the material is a toxic-free solution throughout the product life cycle.”
Upcycling agricultural side stream
The patent-pending production technology is scalable and environmentally friendly, reportedly reducing carbon emissions by up to 91% and fossil energy demand by up to 89% during production and disposal compared to conventional plastics.
“Following a holistic approach, it’s our mission to offer a solution that tackles global plastic pollution as well as climate change, resource crisis and biodiversity loss,” elaborates Lamp.
“We aspire to make a significant impact and pave the way for a future that is free from pollution and waste.”
Traceless aims to contribute to a regenerative, climate-friendly economy while eradicating plastic pollution. The technology is currently transitioning from pilot scale to industrial scale.
“Traceless is part of a new generation of plastic-free biomaterials. Even though it looks and feels like plastic, the material is certified as plastic- and microplastic-free and fully bio-circular – designed to leave no trace,” concludes Lamp.
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