THE WHAT? Kelpi has raised some £3 million in a seed round to help develop bioplastic, according to a report published by UK Tech News.
THE DETAILS The UK-based start up manufactures seaweed-based coatings for paper and cardboard packaging. The material is strong, grease- and acid-resistant and fully compostable.
THE WHY? With single use plastic public enemy #1 and several cosmetics companies committed to replacing it entirely in the coming years, the race is on to find a viable alternative. Kelpi CEO and Co-founder, Neil Morris told UK Tech News, “This landmark investment enables Kelpi to scale up our pioneering work using seaweed to create bioplastic packaging with the barrier properties required by clients.”