Foamplant has announced the successful closing of a 2 million euro seed investment round with the early-stage venture capital funds Shift Invest and Future Food Fund. Foamplant is the first company worldwide to produce a fully biodegradeble and sustainable technical foam.
The investment will be used to launch the foam-based and peat-free horticultural substrate: Growfoam, as well as to fund further product development for biodegradable technical foams.
“Growers are actively looking for high-quality substrates that fit the footprint society demands nowadays. By combining the best features of organic and inorganic growth media in a made-to-measure product, Foamplant is catering to that need.”, says Tijl Hoefnagels, partner at Future Food Fund. “Foamplant is pioneering in developing and producing new biodegradable and bio-based alternatives to conventional foams. We believe that the Foamplant team can deliver a valuable contribution to the usage of more sustainable materials. The team has shown to be able to innovate quickly and we look forward to helping the to successfully commercialize their products”, says Janneke Bik, partner at Shift Invest.
Foamplant is on a mission to deliver safe, clean, sustainable and biodegradable technical foams for everyone and in every application. Foamplant has developed a platform technology which enables the production of biodegradable foams with similar properties to conventional foams, such as flexible polyurethane foams. With its technology Foamplant revolutionizes the foam material industry by reducing the environmental impact of such materials by 100%. And while doing so, raising the bar towards a new standard: biodegradable foams in all technical applications.
More info on: www.growfoam.ag