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Polymateria Closes £15m Funding Round

London-based startup that’s “Polymateria", has raised £15 million from Planet First Partners (PFP).

Polymateria technology is called biotransformation

The funds will be used at Polymeria laboratories at Imperial College London’s I-HUB and to grow their R&D team of polymer scientists, chemists and biologists from around the world,

Frédéric de Mévius of PFP, who also sits on the startup’s board, commented: “We evaluated many technologies in this space and recognised Polymateria’s as completely unique technology, underpinned by third party testing and data and, by design, with great potential to scale up quickly without significant capital cost to industry.”

“Biodegradable solutions have faltered in the past, largely due to the creation of microplastic, lack of compatibility with recycling systems and confusion from consumers around the recycling of packaging. Biotransformation tackles all three issues,” said Niall Dunne, CEO at Polymateria.

Marc Bolland former Marks & Spencer CEO, joins the Company as Chairman. Planet First Partners (PFP) is a long-term impact investment platform led by Frédéric de Mévius. Frédéric is former Verlinvest Founder, CEO and Chairman and joins the Board. Additionally, Simon Susman, another World Sustainable Retailer of the year winner and former CEO and Chairman of Woolworths Holdings and Chairman of Virgin Active Holdings, joins Frédéric on Polymateria’s board.

Polymateria Food contact SUP packaging

Long service life (6 months – 3 years)

Polymateria’s Cycle+ brings advanced biodegradation technology to different types of plastic, without affecting its recyclability within the product’s use life.

Short service life (<6 months)

Polymateria’s DegrAid product is designed specifically for end of life situations where recycling is not an option, e.g sealant films.

Refs

London-based Polymateria raises £15 million for new plastics that automatically biodegrade and leave no trace

Polymateria closes £15m funding round

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