Bioplastics4Health Secures 180k€ Loan, Aims for 5M€ Spain Plant
Bioplastics4Health has secured a significant financial boost with a 180 k€ loan and subsidies from ENISA, the Bizkaia Provincial Council, and the Basque Government's SPRI. The company is now seeking further public-private funding for a future plant in Spain, aiming to align with EU sustainability regulations.
The company's ambitious plans include launching a productive plant in Spain with an approximate investment of 5 M€. Their innovative solution utilises PHBV, a biopolymer derived from potato starch, which is 'home' compostable and boasts better thermal resistance than alternatives like PLA.
Bioplastics4Health aims to produce 2,840 tons annually, with an initial investment of 700 K€. They project revenues of 10.3 million euros in just five years. The company offers 100% compostable films and packaging, developed in collaboration with GAIKER.
Bioplastics4Health has successfully closed its first round of investment, led by TranXforma Food and accompanied by other investors. With the received loan and subsidies, along with the planned future funding, the company is well-positioned to realise its production plant in Spain and contribute to the EU's sustainability goals.
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