Suzano invests $5M into Bioform Technologies

Suzano Ventures, the corporate venture capital arm of Suzano, has made a strategic investment into the Canadian materials science startup, Bioform Technologies. The investment provides up to $5M towards the company’s seed round, enabling it to accelerate the development of its novel bio-based plastic alternatives. The products can be manufactured through modified industrial processes already used in the pulp and paper sector. Bioform’s proprietary technology rapidly produces wood pulp-reinforced hydrogels to create plastic alternatives, which can be made using Suzano’s wood pulp fibre as a key input. Bioform’s materials have the potential to be home compostable or recycled through existing paper recycling processes and do not require fossil-based inputs. The technology is highly versatile and has a number of applications where it could replace conventional single-use plastics, including paper recyclable thermoformable films for packaging applications and compostable heat-sealable films for pouches, agriculture, and garbage bags. Bioform has previously raised $2.4M from direct investments and $1.2M from non-dilutive sources to streamline its technology and validate performance and processes in its labs. This funding from Suzano Ventures will enable the company to realize a demonstration facility to pilot its manufacturing process and expand its team and capabilities.