Bioplastics4Health Secures First Investment for PHBV Plant in Basque Country
Bioplastics4Health, a pioneering company in compostable materials, has secured its first round of investment. Led by TranXforma Food, the funding will support the company's expansion plans in the Basque Country, aiming to address Europe's shortage of industrial capacity for compostable plastics.
The company, specialising in PHBV-based bioplastics, has attracted significant interest. PHBV, derived from potato starch, offers better thermal resistance and a lower environmental impact compared to other compostable materials like PLA. The technology behind this innovation was partially developed by the technological centre GAIKER and has already seen initial industrial production in Germany.
Bioplastics4Health plans to launch a productive plant in Spain with an approximate investment of 5 M€. This plant is expected to have an initial annual capacity of 2,840 tons and project revenue of 10.3 million euros in five years. The company is seeking public-private funding for this plant, aligning with EU sustainability regulations.
Bioplastics4Health, with its innovative PHBV technology, is set to expand in the Basque Country. Led by TranXforma Food, the company's first round of investment will support its plans to address Europe's need for compostable materials. With an initial plant in Spain, Bioplastics4Health aims to contribute significantly to the growing bioplastics market, expected to reach 7.7 million tons by 2029.
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