Dutch-based Paques Biomaterials raises €14M to develop biodegradable alternative to plastic

Netherlands-based Paques Biomaterials, a company that developed its technology for producing PHA polymers using circular feedstocks for over 10 years, announced that it has secured €14M in a fresh round of funding.

Paques Biomaterials’ investment was led by Invest-NL and NOM.

Emma den Held, investment manager at Invest-NL, says, “Our investment in this promising alternative to fossil plastics shows our confidence in the power of innovation. The solution from Paques Biomaterials is completely circular and prevents the spread of microplastics.”

“With patented technology, a large potential market reach and a strong management team, we are convinced that with our investment we are making an important contribution towards a circular economy.”

Capital utilisation

The raised capital will help facilitate the construction of a Caleyda Extraction Facility in Emmen, enabling the extraction of a high-quality biopolymer named Caleyda. Boasting 100 per cent biodegradability in natural environments, Caleyda eliminates harmful microplastics, making it versatile for various applications.

In the future, Paques Biomaterials plans to build a large-scale extraction plant for mass-producing the biopolymer PHA, targeting an annual output of 6 million kg. 

With global demand for PHA expected to skyrocket, the company aims to secure a significant market share in the growing bioplastics industry.

What does Paques Biomaterials offer?

Paques Biomaterials has advanced the technology behind Caleyda, utilising bacteria in organic residual flows to produce the biopolymer PHA. 

Extensive testing on laboratory and pilot scales has paved the way for a 2022 demo installation in Dordrecht, in partnership with five Dutch water boards and waste-energy company HVC.

Collaborations in 2023 with Kolon Industries (South Korea), Looop (Venlo), and Senbis Polymer Innovations (Emmen) aim to refine the technology further.

In a company statement translated from Dutch, Joost Paques, co-founder of Paques says, “We are extremely happy with the confidence that investors have in our technology. They give us the opportunity to scale up and take the next step in creating a new, circular chain in which we produce a natural alternative to plastic from organic residual flows.”

“This financing round still offers room for new investors to step in who want to invest in a future with sustainable raw materials.”

Sytze Hellinga, NOM investment manager, adds, “We got to know the founders, Joost Paques and René Rozendal, as driven, knowledgeable and determined to make this technology a success. We also see great opportunities for PHA and therefore see a role for us in co-financing this next step at this time. This brings us one step closer to a natural alternative to plastic.”