ESG Today reports that sustainable packaging-developer Paptic recently received 23 million euros in equity financing to continue develop more sustainable packaging alternatives and to be able to offer those to global customers.
The company also received a 10 million euros capital loan from the Finnish Climate Fund to extend the production of sustainable packaging made from foam-based technology.
Finland-based Paptic was founded back in 2015 and it manufactures wood fiber-based materials that also happen to be recyclable as a replacement for conventional packaging materials, such as plastic.
Currently accounting for 70% of the world's flexible packaging market and with an estimated value of 200 billion euros per year, plastic could be replaced by this solution in at least half of its applications, say Paptic experts.
Nuventura is another sustainability-focused startup, this time working in the field of clean energy infrastructure. The company raised 25 million euros to support its growth in the field of the energy transition.
However, the fact that it can be replaced with a much cleaner alternative, without sacrificing the benefits, is a huge breakthrough, experts say.
Dr Fabian Lemke, Nuventura Co-founder and CEO, said that "greater appreciation for the environmental threats posed by SF6 and accompanying regulatory oversight means that Nuventura, with our dry-air alternatives, is very much in the right place at the right time."
Sustainability in the EV industry is also crucial, since battery manufacturing can be associated not only with high emissions, but also the mining of critical earth minerals. This is where Ascend Elements comes in. The startup, that recently received 460 million USD in a Series D equity funding round, aims to accelerate the production of US-developed EV batteries.
2015-founded Ascend Elements provides closed-loop battery materials solutions for the EV industry, but also for commercial-scale applications. Engineers at the company make cathode from end-of-life lithium-ion batteries, using its energy-efficient proprietary technology that is said to be more advanced than anything else on the market. This allows for a lower-cost production, better performance and lower emissions.
Boston Metal is another startup that aims to make the world a greener place to live in. Focused on decarbonizing steelmaking, Boston Metal raised 262 million USD at its Series C fundraising.
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