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