Potential takeover Suzano Ventures, the corporate venture capital subsidiary of Brazilian group Suzano, the globe’s largest market pulp producer, is funding up to US$5 million to invest in Canadian startup Bioform Technologies.
"The investment provides up to US$5 million towards the company’s seed round, enabling it to accelerate the development of its novel bio-based plastic alternatives. The products can be manufactured through modified industrial processes already used in the pulp and paper sector,” the Brazilian business said in a statement.
"Bioform’s proprietary technology rapidly produces wood pulp-reinforced hydrogels to create high-performance plastic alternatives, which can be made using Suzano’s wood pulp fibre as a key input. Bioform’s materials have the potential to be home compostable or recycled through existing paper recycling processes and do not require fossil-based inputs,” according to Suzano.