With the funding, PulPac plans to introduce its patented dry-moulded fibre technology globally, as well as additional capacity, research and development (R&D) and supply chain enhancement

IMG_7890

Amcor invests $3m in Swedish company PulPac and its fibre technology. (Credit: Amcor plc)

Swedish manufacturing technology provider PulPac has secured €31m in financing from a cross-industrial alliance to introduce sustainable packaging technology.

The funding round was led by strategic investors Aliaxis through its new impact business builder division, Aliaxis Next, and followed by Stora Enso, Amcor Ventures and Teseo Capital.

PulPac’s existing shareholders, including cornerstone investor WPP, have participated in the investment round.

With the funding, PulPac plans to introduce its patented dry-moulded fibre technology globally, as well as additional capacity, research and development (R&D) and supply chain enhancement.

PulPac co-founder and CEO Linus Larsson Green said: “With the backing and support of a world-class partner such as Amcor, we’ll continue to grow our offering and deploy our new packaging across the world.

“I look forward to working more with our partners and, through collaboration, providing solutions that are more sustainable.”

PulPac is engaged in providing manufacturing technology for low-cost, high-performance fibre-based packaging and single-use products.

The firm aims to replace one million tonnes of single-use plastics by 2025.

Packaging solutions provider Amcor has announced an investment of $3m in PulPac and its fibre technology to boost the global deployment of the latter’s paper packaging.

Amcor is one of several strategic investors in a cross-industry alliance that aims to expedite the deployment of PulPac’s technology around the world.

The investment will assist PulPac’s aspirations for global commercialisation and enable the firm to deploy its solutions across markets and in Amcor’s own product ranges.

The investment follows the launch of the AmFiber platform earlier this year, through which Amcor plans to redefine the capabilities of traditional paper packaging.

Amcor Corporate Venturing and Open Innovation vice president Frank Lehmann said: “Amcor is committed to developing solutions that meet the needs of our customers, consumers and the environment.

“Amcor’s investment in PulPac will help to accelerate the global rollout of this innovative technology, and well as support research into its suitability for future applications.”