Plastic pollution has long been a global challenge, leaving an indelible mark on our environment and contributing significantly to the climate crisis. Now, a German bioeconomy startup, traceless materials, is poised to change the game with a sustainable circular economy solution. The company has developed a groundbreaking natural biomaterial to combat plastic pollution and its environmental toll.
In a remarkable milestone, traceless materials has secured €36.6 million in Series A funding, marking a significant step towards their mission. The funding round was spearheaded by the UB Forest Industry Green Growth Fund, a private equity fund, with support from SWEN CP's Blue Ocean fund and a local banking consortium featuring GLS Bank, Hamburg, and Hamburger Sparkasse. Notably, existing investors, including Planet A Ventures, High-Tech Gründerfonds (HTGF), and b.value, also participated in this pivotal round.
With this substantial injection of capital, traceless materials is poised to expand its production capacity and embark on large-scale industrial implementation of its groundbreaking technology. The company is already making waves with the construction of a demonstration plant in Hamburg, which promises to replace thousands of tons of conventional plastic annually. Simultaneously, this initiative will contribute to significant reductions in CO2 emissions, the conservation of fossil resources, water, and agricultural land.
As traceless materials scales its innovative technology, it aims to pioneer a climate-friendly, circular, resilient, and regenerative industry. Dr. Anne Lamp, CEO and co-founder of traceless, emphasized the pivotal role this biomaterial plays in combating plastic pollution, stating, "We are convinced that UB FIGG and SWEN's Blue Ocean fund are a great addition to our shareholders as they have relevant knowledge in our industry."
Sakari Saarela, Partner at UB FIGG, praised traceless materials' approach of utilizing readily available agricultural byproducts to replace fossil-based plastics, highlighting their impressive material performance, development speed, and commercialization efforts.
This funding is particularly significant for traceless materials, as financing capital-intensive startups remains a unique challenge. Johanna Baare, COO and co-founder of traceless, expressed their gratitude for finding partners who share their vision and understand the complexities of scaling up innovative hardware technologies.
The Blue Ocean fund's focus on investing in startups addressing ocean threats aligns perfectly with traceless materials' mission. As plastic pollution continues to endanger our oceans, Olivier Raybaud, Managing Director of SWEN Capital Partners, underscored the compelling nature of traceless materials as a bio-based and biodegradable alternative capable of replacing plastics in products that often end up in the environment, including single-use packaging and hidden plastics in adhesives and paper coatings.
Founded in 2020 by Dr. Anne Lamp and Johanna Baare in Hamburg, traceless materials is on a quest to usher in a regenerative, climate-friendly economy free from plastic pollution. Their innovative technology transforms agricultural industry remnants into natural biomaterials that are bio-based, home compostable, plastic-free, and boast a minimal ecological footprint. With traceless materials, a granulate is produced, which can be seamlessly integrated into a wide range of end products, from rigid molded parts and flexible films to paper coatings and adhesives.