Suzano Ventures invests up to US$5 million into Bioform Technologies to further develop bio-based plastic alternatives
Suzano Ventures, the corporate venture capital arm of Suzano, the world’s largest market pulp producer, has made a strategic investment into the Canadian materials science startup, Bioform Technologies.
- Suzano Ventures, the corporate venture capital arm of Suzano, the world’s largest market pulp producer, has made a strategic investment into the Canadian materials science startup, Bioform Technologies.
- The investment provides up to US$5 million towards the company’s seed round, enabling it to accelerate the development of its novel bio-based plastic alternatives.
- Bioform’s proprietary technology rapidly produces wood pulp-reinforced hydrogels to create high-performance plastic alternatives, which can be made using Suzano’s wood pulp fibre as a key input.
- Chris Clark, Chief Executive Officer of Bioform Technologies, said:
“Our goal is to produce sustainable alternatives to single-use plastics at the speed of paper and at the cost of plastic.