A European startup which aims to replace plastic packaging with tree bark-based technology has successfully raised €1 million at the pre-seed stage with investors.
Bpacks has developed a composite material based on its own innovative formula, which can be made with standard plastic manufacturing equipment and pulp moulding technology.
In addition, it has also partnered with the retailer Gomex to roll out its products in more than 300 stores across Southern Europe.
Bpacks co-founder Lev Bolshakov for Forbes said bark is already “natural packaging for trees”, which led the company to look at it as an alternative to plastic in an interview.
He said the money raised at the pre-seed stage will help buy equipment for its Belgrade production site and hire more scientists to develop new products.
Bolshakov added the bark-based packaging it has developed is biodegradable and compostable.
He told me they are working on using the material to create pellets, which can be used to make food trays, coffee cups and containers for beauty products.
“We are looking at the beauty industry, because it is focussing on finding solutions to replace plastic and glass containers,” he said.
“We also see the application of this packaging in other domestic products and in some other industries, as well.”
Bolshakov added the material is 80% wood waste byproducts and has a high antibacterial index, which increases the shelf life of the products.
He claims the eco-friendly packaging extends the shelf life of perishable items like meat and vegetables by up to seven days, which could potentially help retailers to reduce the amount of food going to waste.
“We are aiming to secure a seed round by March 2025, and intend to build our own manufacturing facility and establish the supply chain by providing materials for plastics manufacturers and directly to our clients,” he added.
The company has a team of eight with a research and development center in Belgrade with five scientists, which submitted Bpacks’ innovations to the World International Property Organization this year.
He added production will be based in Spain and the company will initially focus on European markets, but they are looking to expand commercial operations in North America by 2026.
Mikhail Taver, an advisor and member of the board of directors at Bpacks, said the development of this packaging marks an important step for retailers looking to reduce their environmental footprint without sacrificing quality or increasing the cost in a statement.
“Bpacks demonstrates how eco-friendly practices can seamlessly integrate into mainstream markets, setting a new standard for packaging solutions,” added Taver.
The chief executive of Gomex, Dimitrije Stojanović said ESG principles and sustainability are central to his company’s mission in a statement.
Stojanović added Gomex is proud to be pioneers in offering innovative, tree bark-based packaging to our customers.
“By introducing this groundbreaking, eco-friendly packaging, we aim to lead by example and inspire more sustainable practices across our industry,” he said.
“The Bpacks solution will benefit not only end users but also our company by reducing product write-offs, enhancing shelf life and minimizing waste.
“This aligns seamlessly with our ESG values and sets a new standard for sustainability within our industry.”