Green Dot Bioplastics closed a $6.5 million Series A financing deal led by Fulcrum Global Capital on February 7, with participation from iiM (Innovations in Motion) and Open Prairie Ventures through its Open Prairie Rural Opportunities Fund.
The company will use the investment to accelerate organic growth, develop and commercialize new bioplastics products and uses, and invest in new IP capabilities.
Green Dot Bioplastics, based in Emporia, Kansas, is a material science company offering a full line of bio-based and biodegradable plastics created to offer consumers a more sustainable solution than traditional plastics. The company’s line of bioplastics and biocomposits (composite material formed by a matrix (resin) and a reinforcement of natural fibers) are produced with a reduced amount of petroleum-based raw materials.
The products also maximize the use of renewable and reclaimed materials. Some of the company’s products include a wood-plastic biocomposite for stand-up paddleboards, synthetic leather, biodegradable and safe material for toys, and a 3D printer filament made from compostable materials.
Duane Cantrell, Managing Partner and CEO of Fulcrum Global Capital noted in a press release, “There is an increasing global issue with plastic pollution coupled with a growing demand to reduce or eliminate our footprint of plastic pollution in our landfills and oceans. With the increasing global challenge of plastic pollution, we are excited to invest in a company using agricultural byproducts to provide corporations with near-term solutions for truly biodegradable products and packaging that can reduce our use of petroleum-based plastics and begin to eliminate plastic pollution. As well, we are equally excited to partner with CEO Mark Remmert and the impressive Green Dot team. Mark brings a lengthy and impressive career from the plastics industry and has made remarkable advancements in new bio-based solutions since Green Dot was founded.”
The company was founded in 2009.
Visit http://greendotbioplastics.com to learn more about this company.