UK-based, Kelpi is manufacturing seaweed-based coatings for paper & card packaging. The firm’s bio-coating have a uniquely strong water & oxygen barrier, are resistant to grease & acid, & fully compostable/ marine-safe. The derived packaging materials share similar characteristics (but ultimately replace) plastic (packaging). Kelpi will use the funds to i) conduct manufacturing pilots for packaging for a global beverage brand, ii) cold & hot packaging/ treys for a food brand, iii) clients in cosmetics & iv) personal care, v) as well as polybags for fashion (the company is a finalist for the TOM FORD Plastic Innovation Prize, alongside UK-based Notpla). Reducing plastic consumption is obviously important: only 9% of gets recycled, 11% is incinerated & 80% is dumped in landfills; 99% is produced from fossil fuels; by 2050 it could account for 20% of global oil consumption. In the UK alone, housholds throw away 100bn pieces of plastic packaging annually, the most common being food wrappers. Conversely, seaweed grows prolifically without needing fertilizer, land or freshwater, which offers benefits vs other plants from which bioplastics can be made. Seaweed also soaks up carbon as it grows, de-acidifyes & re-oxygenates the ocean. Kelpi was founded in 2020 by Neil Morris (CEO), Christopher Chuck (CTO) & Murray Kenneth (Director). Aside from VC investors, Kelpi received grant funding from the Future Economy Fund & the Tech Nations Net Zero 3.0 (fun fact: data from the latter suggests that the UK has <4,400 climate startups & scaleups, which is 60% more than in France & 43% more than in Germany). <Source: techfundingnews.com, uktech.news, hollywoodreporter.com>
