University of Bath spinout Naturbeads has secured a £7.8m Series A funding round as it looks to address global microplastic pollution.
As more and more research reveals how pervasive microplastics have become in the environment, Bath-based Naturbeads is scaling its cellulose microsphere technology designed to replace the use of plastics in everyday products.
According to the startup, two million tonnes of microplastics are added annually to products such as cosmetics, detergents, paints, adhesives and others.
The European Union has previously called for the use of microplastics in these products to be phased out by 2027, with the aim to then further reduce the use of plastics in products like fertilisers.
“Microplastics have been found at the top of Arctic mountains and in the depths of the Mariana Trench, with a recent study forecasting that microplastic pollution could more than double over the next decade,” said Naturbeads CEO and co-founder Dr Giovanna Laudisio.
“Our differentiator from other companies who are trying to solve challenges around plastic packaging is that we are one of few that is solely focused on the plastic found within daily products, and producing an eco-friendly, scalable alternative.”
Now backed by the additional funding, Naturbeads is planning to construct its first production plant in Puglia, Italy.
The Series A investment was led by Eos Advisory.
“Giovanna and her team are tackling one of the most urgent environmental challenges of our time, and we look forward to supporting Naturbeads through its next, exciting phase of commercialisation,” said Eos partner Andrew Durkie.
Additional funding came from Progress Tech Transfer, CDP Venture Capital and Paragon Capital Management.
“The leadership team has bold ambitions in coming up with an industrial-grade solution to tackle microplastic pollution in a variety of different applications, with a platform technology that is delivering high technical performance with a fully circular approach,” said Alberto Calvo, managing director of progress tech transfer.
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