[Funding alert] Dutch-based Paques Biomaterials Secures €14Million in Funding

Tuesday 30, 2024 | By Startup Rise EU

Dutch-based Paques Biomaterials secures €14million in funding to produce a biopolymer with the advantages of plastic but not the disadvantages. Among the investors are impact investor Invest-NL and the NOM.

Dutch-based Paques Biomaterials secures €14million in funding to produce a biopolymer with the advantages of plastic but not the disadvantages. Among the investors are impact investor Invest-NL and the NOM.

Part of this investment round also includes a grant from Energiefonds Drenthe. “Energiefonds Drenthe has been very flexible and accommodating about how this grant could work best for us”, says Joost Paques. It offers us maximum flexibility, now and in the future.”

Read also - Limburg-based Foodtech Company Verdify Raises €2.4Million in Funding

The capital raised in this funding round will allow us to scale up by building a Caleyda Extraction Facility in Emmen, where raw PHA will be extracted into a high-quality biopolymer branded Caleyda®.

Caleyda® can be used for a wide range of applications, mainly because the product is 100% biodegradable in any natural environment without leaving behind harmful microplastics.

Read also -  Netherlands-based Tidal Control Secures €500K in a Pre-Seed Round Funding

The company also started several collaborations in 2023, such as with Kolon Industries in South Korea, circular side stream company Looop in Venlo, and Senbis Polymer Innovations in Emmen, to improve the technology further.

Joost Paques, co-founder and CEO of Paques Biomaterials: “It’s good to see the confidence investors have in our technology. They give us the opportunity to scale up and take the next step in creating a new, circular chain where we produce a natural alternative to plastic from organic side streams. This funding round still allows new investors who want to invest in a future with sustainable materials to step in.”

Sytze Hellinga, investment manager of NOM: “We have come to know the founders, Joost Paques and René Rozendal, as driven, knowledgeable and determined to make this technology a success. We, too, see great potential for PHA and, therefore, see a role for us now in co-financing this next step. This will bring us closer to a natural alternative to plastic.”

Emma den Held, investment manager at Invest-NL: “Our investment in this promising alternative to fossil plastics shows our confidence in the power of innovation. Paques Biomaterials’ solution is fully circular and prevents harmful microplastics. With a patented technology, a large potential market scope and a strong management team, we are convinced that we are making an important contribution towards a circular economy with our investment.”

About Paques Biomaterials

Humanity has used nature without considering the boundaries of ecosystems since the industrial revolution. Despite the tremendous prosperity this has provided them, over time it has moved them further and further away from a state of planetary equilibrium. This cannot continue.

Read also - Amsterdam-based Send AI Raises €2.2Million in a Pre-Seed Round Funding

They at Paques Biomaterials think that sustainability and prosperity can coexist. Their biomaterials are made from renewable resources in a natural way. in balance with the natural world.

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