Lactips, the French company specialised in producing a soluble bioplastic with zero environmental trace, has raised 13 million euros in new capital.

 

This round was led by Bpifrance’s SPI (Société de Projet Industriel) fund, managed on behalf of the French Government as part of the Investments for the Future Program (PIA), and Diamond Edge Ventures (DEV), the innovation investment arm of Mitsubishi Chemical Holdings Corporation (MCHC).

 

Lactips now has the financial resources needed to drive the development of its innovative and responsible biosourced, biodegradable and water-soluble solution, providing an alternative for numerous industrial plastics.With this key round of fundraising, Lactips will accelerate the industrialization of its plastic pellets and films to offer a wider selection of fully biodegradable and recyclable biosourced packaging.

 

The company says it is also looking to conquer certain packaging markets in the food and construction sectors as well as single-use packaging.

 

Lactips’ industrial project is being supported by the SPI fund within Bpifrance, which, through this operation, wants to help drive progress with this essential industry for the ecological transition, while helping create an industry in France with a strong future in this area.

 

Lactips is also being supported by MCHC, which is committed to develop and offer solutions for a sustainable future. In Japan, which aims to recycle 100% of new plastics by 2035 by developing biodegradable replacement solutions, this support will be not only financial, but also industrial and commercial.

 

Marie-Hélène GRAMATIKOFF, CEO and co-founder of Lactips, said: “This 13 million euros fundraising is structural and strategic at the same time, thanks to these two new shareholders. More than ever, our industries need new solutions to respond to future economic challenges tied to the goal of reducing the environmental impact of plastics.”

 

Patrick SUEL, President de Diamond Edge Ventures, explained: “With its natural, biodegradable and edible polymer, Lactips is a game changer that holds the promise to help reducing plastic pollution in landfills and oceans. Lactips offers Mitsubishi Chemical Holdings Corporation a unique platform to tackle the challenges created by plastics contamination and we’re looking forward to multiple collaborations to solve such issues in Japan and beyond.”

 

"The cooperation with Lactips underscores our direction towards circular economy and our commitment to Europe as an important market. It perfectly complements our growing portfolio of sustainable materials. Supporting the development of environmentally friendly products like those of Lactips aligns with our vision of KAITEKI, which signifies the sustainable well-being of people, society and our planet Earth" says Ansgar POHL, President and CEO Mitsubishi Chemical Europe, the regional headquarters for Mitsubishi Chemical Corporation in Europe.