Woamy is a spin-off of Aalto University, Finland, supported by CMPC. It has raised one million euros to develop a recyclable and biodegradable bio-based foam to serve as an alternative to expanded polystyrene plastic.
In the midst of climate problems, companies around the world are now focused on finding more sustainable solutions – using innovation and science – to replace polluting materials and products like plastic. Woamy is one of them. This is a spin-off from Aalto University, Finland, which created a bio-based foam material to replace expanded polystyrene plastic and other plastic foams. The invention is recyclable, biodegradable, lightweight and resistant, and will be developed largely using CMPC cellulose. The startup raised one million euros in a seed capital round to develop and scale up the technology. The capital raising was led by CMPC Ventures, the venture capital arm of CMPC, one of the world’s largest pulp companies.
It is estimated that about 360 million tons of plumavit are discarded per year in Chile. Sixty million tons come from industrial work due to its key thermal properties. This plastic-derived material can stick around up to one thousand years because it isn’t biodegradable, a global problem that has led Washington DC, San Francisco and Seattle to prohibit its use. The polluting component of this product that is necessary for many industries led to the creation of this new plastic alternative. “Our multidisciplinary team of scientists, engineers, designers and entrepreneurs is ready to make the foam industry sustainable,” Woamy CEO Susanna Partanen said after the funding round.
Read more: cmpc.com
