£250,000 has been invested by CPI Enterprises in Floreon Technology, who develops plastics using polylactic acid, also known as PLA, which is derived from renewable feedstock such as corn or sugar cane. PLA plastics are different from the current standard used in most plastics because they don’t use fossil fuels. Typically plastics are produced by distillation and polymerization of petroleum.
Floreon Therma-Tech is the world’s first halogen-free PLA compound to achieve UL94V-0 flammability certification. This gold standard certification means the plant-based plastics produced have a significantly lower carbon footprint than our fossil-based counterparts and also meet the requirements for use in home electronics, automotive and construction. Therma-Tech is set to raise the bar for sustainability and performance, providing a superior and high-performing alternative to standard plastics.
CPI Enterprises’ investment follows on from Northern Gritstone’s £2 million Series A investment into Floreon announced last November.
Hannah Wade, Managing Director at CPI Enterprises: “This unique company has worked hard to develop revolutionary solutions for an industry that still relies heavily on fossil fuels to produce everyday items. Floreon’s ambitious goal to change the landscape of the plastics industry by producing high quality plastics using sustainable materials certainly caught our eye. The problem they are trying to solve is one we must address if we are to reach net zero and shift the dial on climate change. I’m delighted CPI can extend our working relationship with Floreon by collaborating with the company to scale-up new technology that will accelerate change in the plastics industry. Shaun and the management team have built an impressive technology platform and we are keen to support and contribute to the business as it enters an exciting new phase of growth.”
For more information on Therma-Tech visit: https://lnkd.in/ej5-t6Fp
