Fresh capital for BIO-LUTIONS
Cleantech start-up BIO-LUTIONS has raised a further 2.7 million euros and can now push the expansion of its production of sustainable packaging and disposable products.
It is a clear sign of trust from existing investors: Delivery Hero and other shareholders are investing 2.7 million euros in the growth of the cleantech start-up BIO-LUTIONS. With this investment, the Hamburg-based company intends to expand its production site in Schwedt. The manufacturer of sustainable packaging and disposable products based on agricultural residues anticipates a rapid increase in demand when the EU ban on disposable plastic articles comes into force in the middle of this year.
Regional production using agricultural residues
Founded in 2017, the company aims to produce sustainable alternatives to disposable tableware and other single-use items. "I intend to create ecologically valuable products that can be made in a decentralized and climate-friendly way. That's why we focus on plant-based agricultural waste as a raw material," said bioökonomie.de. Whether it's rice straw, banana trunks or pineapple bushes, doesn't matter to him.
Ecologically and economically sustainable
The patented technology is based on using a machine to grind the plant parts into so-called self-binding nano- and microfibrillated fibers. "The natural fibers attach themselves to each other in a similar way to Velcro; all you have to do is add a little water," Gordillo explained. The result is a fiber pulp that can be pressed into a variety of shapes - from vegetable packaging to plates. The process saves water and energy and does not require chemicals or additives common in the pulp industry. The products are compostable or can be burned in a climate-friendly way. "Because we can source and produce locally, our process is both ecologically and economically sustainable," Gordillo emphasized. The innovative material has won several innovation or sustainability awards.
Additional round of financing planned
In 2018, production began at the first manufacturing site, Bangalore. After a successful Series A financing in 2019, the company established its first German site in Schwedt in 2020. With the latest Pre-Series B financing round, this location is now expected to grow rapidly. The Series B financing round is also still scheduled for 2021.