Lactips raises 13 M€ to ramp up the development of its water-soluble bioplastic

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Type of post: NEWS.

Lactips, a French company specialized in producing a water-soluble bioplastic with zero environmental trace, has raised 13 M€ in new funds. The infusion of capital will enable Lactips to ramp up its product development and scale its industrial facilities.
Press release: “Lactips, producer of the first soluble bioplastic, raises 13 million euros”, 26/5/2020.

Figure 1. Water soluble biodegradable and printable film for detergent tabs (taken from the company website)

This round was led by Bpifrance’s SPI (Société de Projet Industriel) fund, managed on behalf of the French Government as part of the Investments for the Future Program (PIA), and Diamond Edge Ventures (DEV), the innovation investment arm of Mitsubishi Chemical Holdings Corporation (MCHC).

Lactips produces thermoplastic pellets based on milk protein. Plastic transformation is realised through its secret industrial process. The pellets show an incredible variety of technological properties such as water solubility, edibility and biodegradability. They have several industry applications: detergent, agrochemicals, food, cosmetics, medical…

Lactips now has the financial resources needed to drive the development of its innovative solution, providing an alternative for numerous industrial plastics. This fundraising will enable Lactips to:
- Continue moving forward with its R&D to develop new applications based on its thermoplastic pellets manufactured in France.
- Accelerate its industrialization phase to meet future demand with a new plant in the Gier Valley, which will open in 2021, with the new production lines gradually ramping up.
- Access new mass markets (food, construction, single-use plastics, lamination, etc.) in France and abroad.
New jobs will be created to support the opening of the new production plant at a 2,500 m2 site, making it possible to revitalize a former regional industrial hub.

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