TerraVerdae Receives Funding to Boost Bioplastics Product Development Capacity
TerraVerdae has received investment from Alberta, federal and other funding partners to construct a new product development capacity for fully biodegradable, high-performance bioplastics at TerraVerdae Bioworks Inc.
Proprietary Polymer Technology
TerraVerdae’s proprietary polymer technology (polyhydroxyalkanoate or PHA) is carbon-neutral and uses renewable carbon feedstock such as municipal and forestry waste or agricultural residues. The company’s product focus is on films and coatings, thermoplastic moldings, adhesives and specialty PHAs.
One product is a bioplastic pouch for tree seedlings that will be consumed by soil microbes and disappear within several months of planting in the forest. TerraVerdae plans to test launch the bioplastic pouches later this year for commercial use by foresters, to be followed by other bioplastic products for use in other sectors.
Tree seedling pouches developed from TerraVerdae’s bioplastic films and coatings technology help to reduce production costs and waste.
Enhanced Product Development Expertise
With this investment, TerraVerdae, headquartered in Edmonton, has enhanced in-house product development expertise and equipment for production of industrial bioplastics used in the agricultural, forestry, food packaging, adhesives and personal-care markets.
Bioplastics offer a sustainable path forward for product manufacturers and help address the global build-up of plastic trash on land and in water.
The company has received 4.5 million dollars from Alberta Innovates, Natural Resources Canada’s Clean Growth Program (CGP), advisory services and research and development funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP), and other investors – to expand its product development facilities in Edmonton. The company also fine-tuned its unique capacity to custom-design bioplastic formulations for strength, elasticity, impact resistance and more.
“We think this is a great time to announce this major funding from Alberta Innovates, Natural Resources Canada and the National Research Council of Canada, along with private investors in our global network. We have achieved major milestones in the last year, including a significant expansion of our technical resources and capabilities, and increased partnerships for technology access, development and commercialization”, said William Bardosh, CEO and founder, TerraVerdae Bioworks Inc.