Traceless, the green startup producing biological materials, announced the successful completion of a 36.6 million euro financing round. The financing round was led by the UB Forest Industry Green Growth Fund (“UB FIGG”), a private equity fund focused on sustainable and resource efficiency. It was also supported by SWEN CP’s Blue Ocean fund. Traceless’ innovations play a key role in addressing three vital threats to marine health: Overfishing, pollution and climate change.
The growth of our innovations helps us prove that a climate-friendly, circular, resilient and sustainable industry is possible. We can make a significant contribution to the problem of plastic pollution with our new biomaterial. We also believe that UB FIGG and SWEN’s Blue Ocean fund will be a great contribution to our shareholders, who have knowledge and experience specific to our industry. It is very important for us that both our investors and banks fully support our mission.Dr Anne Lamp, CEO and co-founder of Traceless
A More Sustainable Future
Local banks such as GLS Bank and Hamburger Sparkasse as well as three existing investors participated in the financing round. These investors include green technology investor Planet A Ventures, seed investor High-Tech Gründerfonds (HTGF) and deep technology investor b.value. Traceless’ natural biomaterial is completely bio-sourced. It can be composted at home and is plastic-free. By utilising agricultural waste, valuable biomass resources are conserved. This patent-pending technology is based on natural polymers and contains no potentially harmful chemicals. It also leaves a minimal ecological footprint, saving 91% of CO2 emissions and 89% of fossil energy requirements compared to plastic production.
The environmentally friendly startup Traceless, which works for the implementation of innovation on an industrial scale, is in the process of building a demonstration plant in Hamburg. The production facility will be an alternative to the production of thousands of tonnes of conventional plastics per year. At the same time, it will greatly reduce CO2 emissions, the use of fossil resources, water consumption and the use of agricultural land. The company produces traceless® materials in granular form, which are widely used in the plastics and packaging industry. This enables the material to be used in products ranging from rigid moulded parts to flexible films, paper coatings and adhesives.
The Blue Ocean fund aims to invest in startups that offer innovative solutions to three major threats to our seas: overfishing, ocean pollution and climate change. Plastic pollution is a major pollutant threatening our seas and therefore we were impressed by a non-marking, bio-based and biodegradable material that can replace plastic in products without harming the environment and seas. This material can be used to replace hidden plastics not only in packaging, but also in adhesives and paper coatings. Traceless offers an attractive alternative to unsustainable and technically non-recyclable applicationsOlivier Raybaud, Managing Director of SWEN Capital Partners