21 November 2024
B’ZEOS, a European blue-tech innovation company, has closed its seed round led by Faber with participation from ICIG Ventures, the venture capital unit of International Chemical Investors Group (ICIG). The development marks a significant milestone in the company’s plans to scale up its innovative compostable seaweed-based packaging solutions.
The latest round contributes to previous funding from pre-seed biotech investor biotopeby VIB, and ocean-tech accelerator Sustainable Ocean Alliance (SOA), as well as private and public grants provided by the Research Council of Norway, Global Seaweed Coalition, Innovation Norway and the Eureka Network’s Eurostars programme.
The partnership with Faber and ICIG will empower the company to accelerate product development, swiftly meet industry demands, and initiate commercial production for corporate partners. Faber’s commitment to advancing ocean-based technologies makes them an ideal investment partner for B’ZEOS. In addition, the strategic collaboration with ICIG, a privately owned industrial group with an interest in biotechnology and novel materials, will enable B’ZEOS to fine tune its products and increase production by leveraging ICIG’s expertise in compounds.
B’ZEOS’ seaweed-based solutions are not only fully bio-based and home-compostable but also compatible with existing packaging production lines. Seaweed’s rapid growth rate, ability to sequester CO2, and lack of dependence on land or fresh water, without releasing microplastics, make it an ideal raw material for sustainable packaging. The material’s versatility is complemented by B’ZEOS’ variety of applications, catering to a broad range of sectors and enabling the company to address diverse packaging needs while supporting corporate partners’ sustainability goals. The viability and scalability of B’ZEOS’ packaging has been validated in five paid pilots to date, in collaboration with partners such as Nestlé and other industry players. B’ZEOS will participate in additional pilot schemes to further demonstrate the value of its solution, with the potential of reaching a test-shop with its partners. With the seed round, B’ZEOS will then be able to expand on their technology readiness level (TRL) and bring it further from TRL7 to TRL8.
“We’ve developed a truly sustainable seaweed-based packaging solution, derived from a variety of seaweed species. We’re not just focused on developing an eco-friendly solution; we are providing an industry-ready, scalable alternative for packaging manufacturers globally. Backed by strategic investors and leveraging our extensive experience in the packaging sector, B’ZEOS is poised to lead the way in transforming the industry with our innovative materials.” said Guy Maurice, Founder & SeaEO of B’ZEOS.
Rita Sousa, Partner at Faber added: “As global demand for sustainable packaging solutions accelerates, we’re excited to partner with B’ZEOS and support their mission of transforming the packaging industry at scale. Our investment aligns with our commitment to back ocean-based innovations that have the potential to drive positive environmental change and reshape industries for a sustainable future”.
“B’ZEOS is pioneering an exceptional approach to sustainable materials, and we recognise that potential” said Dr. Pelin Yilmaz, Investment Director at ICIG Ventures. “Our partnership with B’ZEOS, complemented by the expertise of our compounding platform, allows us to transition towards fossil-free, compostable packaging. We were impressed by B’ZEOS’ tech-oriented team. Their industry expertise enables them to understand the sustainability needs and requirements of the packaging sector, creating solutions that are both robust and versatile.”
B’ZEOS is well positioned to transform the packaging industry with an innovative and truly sustainable alternative to traditional plastics, delivering the functionality of plastic without the environmental cost – offering a distinct advantage over existing bioplastics. Backed by strategic partnerships and new funding, B’ZEOS is set to expand its seaweed-based packaging, providing corporate partners with a scalable and impactful solution that will pave the way for a more sustainable future.
GERMANY