Spanish Bioplastics4Health Secures Funding for PHBV Plant
Bioplastics4Health, a Spanish startup, has secured funding for its innovative bioplastic solution. The company uses PHBV, a biopolymer derived from potato starch, for enhanced thermal resistance and reduced environmental impact. It aims to establish a production plant in Spain with an approximate investment of 5 M€.
Bioplastics4Health's first round of investment was led by TranXforma Food, with additional support from RAISA Film de Polietileno, Gaiker, and small investors from the agro-food sector. The company has also received a 180k€ loan and subsidies from the Bizkaia Provincial Council and the Basque Government's SPRI.
The startup plans to launch a productive plant in Spain with an initial annual capacity of 2,840 tons. It projects revenue of 10.3 million euros in the next five years. Bioplastics4Health is now seeking public-private funding for this future plant, aligning with EU sustainability regulations. The global bioplastics production is expected to reach 7.7 million tons by 2029, driven by regulations and demand for sustainable packaging.
Bioplastics4Health's innovative use of PHBV in its bioplastic solution has attracted investors and support from local governments. With its planned production plant in Spain and ambitious revenue projections, the company is poised to contribute significantly to the growing bioplastics market.
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