Byzen Digital expects the acquisition of a stake in 100BIO to complement its mission of reducing waste plastic
Byzen Digital acquires controlling interest in 100BIO. (Credit: Gerd Altmann from Pixabay)
Byzen Digital, a blockchain technology company, has purchased a controlling stake in 100BIO, a technology provider of sustainable, and eco-friendly food packaging products, for an undisclosed sum.
100BIO has developed a proprietary solution designed for manufacturing of compostable packaging solutions to meet the needs of customers in food services and packaging industries
Byzen Digital CEO Dan Bates said: “100BIO is a perfect complement to the Byzen mission of reducing waste plastic while driving shareholder value. We could not be more thrilled with the closing of this acquisition and the progress that 100BIO has made in the marketplace.
“This marks an important step forward for the Byzen and opens up global opportunities for growth and revenue generation.”
The deal is expected to expand Byzen Digital’s sustainable portfolio in clean energy sector
Byzen Digital expects the acquisition of a stake in 100BIO to expand its sustainable portfolio in the clean energy sector.
The company anticipates the clean energy and sustainable products and services to be a significant growth sector of the economy in the near future.
100BIO CEO and founder Jea So said: “We are very excited to be working with Byzen Digital which shares our vision for a cleaner, more sustainable environment and looks to make an impact on reducing the volume of waste plastic generated annually.”
Established in 2016, 100BIO provides products and services to customers in the growing bio-plastic packaging sector.
100BIO secured composting certifications for its patented technology in the US, the EU, and Asia.
In March this year, Byzen Digital has signed a letter of intent to merge with Clean-Seas, a provider of technology solutions that focuses on addressing the global waste plastic crisis.