Floreon receives quarter of a million investment from CPI Enterprises!
£250,000 has been invested by CPI Enterprises in Floreon Technology, born out of a successful partnership with the University of Sheffield. Floreon develops bioplastics using polylactic acid, also known as PLA, which is derived from renewable feedstock such as corn or sugar cane. PLA plastics are different from the current standard used in most plastics because they don’t use fossil fuels. Typically plastics are produced by distillation and polymerization of petroleum.
Founded in 2011, Floreon’s products are made using 70-90 percent plant-based raw materials, including our patent pending Therma-Tech grade plastic which is the world’s first halogen-free PLA compound to achieve UL94V-0 flammability certification. This gold standard certification means the plant-based plastics produced have a significantly lower carbon footprint than our fossil-based counterparts and also meet the requirements for use in home electronics, automotive and construction. Therma-Tech is set to raise the bar for sustainability and performance, providing a superior and high-performing alternative to standard plastics.
With 99 percent of the plastics industry produced using fossil fuels, Floreon is set to take advantage of a huge gap in the market for high quality plastics which are made using sustainable materials. And, with the plastics industry worth approximately $600bn, Floreon’s greener plastics could provide a real step-change for the plastics industry.
CPI Enterprises' investment follows on from Northern Gritstone’s £2 million Series A investment into Floreon announced last November.
Hannah Wade, Managing Director at CPI Enterprises: “This unique company has worked hard to develop revolutionary solutions for an industry that still relies heavily on fossil fuels to produce everyday items. Floreon’s ambitious goal to change the landscape of the plastics industry by producing high quality plastics using sustainable materials certainly caught our eye. The problem they are trying to solve is one we must address if we are to reach net zero and shift the dial on climate change. I’m delighted CPI can extend our working relationship with Floreon by collaborating with the company to scale-up new technology that will accelerate change in the plastics industry. Shaun and the management team have built an impressive technology platform and we are keen to support and contribute to the business as it enters an exciting new phase of growth.”
Dr Sandrine Garnier, CEO at Floreon said: "Today is a significant financial milestone for Floreon Technology, which reflects the resonance of our vision. This partnership will amplify our potential, fuel innovation, and increase our impact. Working together with CPI, we embark on a transformative journey, guided by shared values and relentless ambition."
For more information visit: www.floreon.com
For more information on Therma-Tech visit: https://www.floreon.com/therma-tech
Find out more about Floreon Technology Limited on their member profile page here
Member-created content 6 months ago | From members