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British polymer production company Aquapak has been acquired by the Cibus Enterprise Fund arm of London-based private equity advisory firm ADM Capital Europe LLP.
The investment comes with Aquapak’s development of Hydropol™, a biodegradable, non-toxic and water-soluble polymer called which is three times stronger than alternatives and can be easily processed into films, laminates and injection moulds, giving it a wider range of applications.
The base plastic is currently used for dishwasher tablets, ingestible pill casings and soluble stitches. Hydropol’s resistance to low temperature solubility and high barrier to elements adds functionality, providing a wider range of uses. It can be recycled, re-pulped, composted and is distinctively compatible with anaerobic digestion.
Furthermore, if unintentionally released into the natural environment, Hydropol will dissolve and subsequently biodegrade, leaving no trace. Products under-development include sandwich boxes, packaging for dried pet food, snack and convenience foods, cooked meat, a number of home delivery/ecommerce applications, and a non-woven fibre for wet wipes.
Commenting, Alastair Cooper, head of Venture Investing at ADM Capital Europe, said: “The Cibus Enterprise Fund invests in a number of disruptive food technologies and in Aquapak we see a company that can revolutionise food packaging significantly improving the ‘end of life’. Aquapak’s customers are companies who share a vision for more sustainable packaging solutions on a global scale.
Hydropol has been designed to help combat single-use plastics and hydrophobic polymers contaminating the natural environment, without compromising on quality and product functionality. We believe that Aquapak has developed a practical alternative to conventional plastics, and a game-changing technology in the global effort to reduce plastic pollution. As a truly scalable, biodegradable, water-soluble, and highly functional material, Hydropol looks set to revolutionise the plastics & packaging industry and drive the transition to a more circular economy.”
Mark Lapping, CEO of Aquapak, commented: “We are delighted to have Cibus as a new investor in Aquapak at this exciting time in the growth of the Company. With Cibus’ support, we look forward to accelerating the development of Hydropol into a platform technology which can bring a wide number of truly circular economy packaging solutions, over the coming years, to the global food sector, and beyond.”