Gaia Biomaterials, a pioneering company in the field of sustainable materials, has successfully raised €4.6 million, signaling a significant step towards global sustainability in materials use. The rights issue saw contributions from the Swedish state-owned venture capital fund Almi Invest Greentech, alongside a mix of private international and domestic investors. This infusion of funds is earmarked for an ambitious expansion plan aimed at increasing market penetration in the United States, India, and other key markets.
At the heart of Gaia Biomaterials’ innovation is Biodolomer, a home-compostable material derived from limestone, one of the most abundantly available minerals on Earth. Biodolomer stands out for its ability to replace fossil-based plastics in a wide range of applications, from drinking cups to grocery bags, without leaving behind microplastics and minimizing the carbon footprint throughout its lifecycle.
“We have a revolutionary and proprietary technology, we have the production capacity, and we have done our market testing. Now, the time has come to expand our market presence. We will use our funds to expand our global network of commercial agents and train and support them,”
says Peter Stenström, CEO of Gaia Biomaterials
The company’s strategy focuses on leveraging its groundbreaking material, Biodolomer, to challenge the global reliance on fossil plastics.
“Gaia Biomaterials has a proven track record of living up to its promises. Their product has an enormous potential as it is both climate-positive and will reduce waste and microplastics,”
says Jörgen Bodin, Investment Manager at Almi Invest Greentech
Gaia Biomaterials’ Biodolomer has already seen practical applications in various sectors, including healthcare, food service, and horticulture. Notably, the material was used for beer cups at the Formula 1 final in Abu Dhabi, showcasing its versatility and environmental benefits. The company boasts a scalable production capacity, ready to meet the global demand for plastic alternatives, with the capability to ramp up to 50,000 tons/year within the existing structure.
With the fresh capital, Gaia Biomaterials is poised to extend its reach, partnering with commercial agents worldwide to meet the soaring demand from brand owners for sustainable material solutions. This expansion not only represents a significant opportunity for Gaia Biomaterials but also marks a pivotal moment in the global shift towards sustainable materials, reducing CO2 emissions, and tackling the waste problem head-on.
