HELSINKI, Finland – Paulig ’s venture arm, PINC, is investing in Glenntex, a Sweden-based startup that has developed a method to functionalize graphene – an ultra-strong carbon material. This innovation reduces the need for virgin plastic in packaging by up to 30%, which enables the use of significantly higher amounts of recycled plastics without compromising performance and makes recycled packaging easier to reuse.
The European Union is driving circularity efforts, with the implementation of ‘The Packaging and Packaging Waste Regulation’ (PPWR), aiming to ensure that all packaging is reusable or recyclable by 2030. Innovation and packaging design is key for the industry’s ability to meet the sustainability targets for 2030 and beyond.
Materials innovation for recyclability and material reduction
Glenntex, a spinout of Chalmers University of Technology, is based on co-founder Govin Induchoodan’s cutting-edge research on the functionalization of graphene, using nanotechnology that enables graphene to bind with degraded plastics and harnessing the material’s exceptional properties to enhance the life of recycled materials.
By enhancing material efficiency and circularity, Glenntex contributes to lowering CO₂ emissions and advancing sustainable solutions.
The company already has several international industry collaborations ongoing, spanning across industries. Proof of concept collaborations show up to 30% material and CO2 reduction as well as enhanced recyclability of post-consumer plastics, through enhanced material properties. This focus on circularity is well aligned with Paulig’s ambition for all its packaging to be recyclable by the end of 2027.
New Investment to Commercialize and Develop Industry Collaborations
“We have been on the lookout for packaging companies that could support us in solving some of the issues with petroleum-based packaging materials, while also aligning with EU regulation and Paulig’s sustainability targets in this area. Glenntex stands out among startups in this field, with their unique technology and the ability to leverage existing machinery for production and recycling,” says Erika Hombert, Senior Investment Manager at PINC.
“We’re thrilled to have PINC on board. We have already received significant interest from global multinationals, along with impressive results from our pilots in the Food and Beverage industry. PINC is the ideal partner for this journey, bringing invaluable industry expertise and a vast international network,” says Anders Sonesson, CEO at Glenntex.
The successful pre-seed round of 0,7 MEUR was led by ALMI Invest, with PINC and Chalmers Ventures as co-investors.
