UK-based sustainable packaging technology company Pulpex raises €74M: Know more 

Cambridgeshire, England-based Pulpex Limited, a sustainable packaging technology company, has secured £62M (approximately €74M) in a Series D investment round led by the National Wealth Fund (NWF) and the Scottish National Investment Bank.

The NWF will cornerstone the round by committing £43.5M (approximately €52.5M) in direct equity, with a £10M (approximately €12M) co-investment from the Scottish National Investment Bank and the balance from existing investors.

The company will use the funds to construct its first commercial-scale manufacturing facility near Glasgow.

Scott Winston, CEO of Pulpex, says, “This investment will drive the decarbonisation of the packaging sector using leading-edge Material Bioscience to ensure this much-needed alternative to glass and plastic will deliver its ambition. Accelerated by the incredible business ecosystem that flourishes within Glasgow, this will be a visible shining star demonstrating the scalability of Pulpex technology for partners to adopt globally.”

Pulpex: Manufacturing fibre-based bottle

Led by Scott Winston, Pulpex has developed an innovative fibre-based bottle solution that contains no hidden plastic.

This bottle is made from sustainably sourced wood pulp and is designed to be recycled just like paper or cardboard in regular household recycling streams.

The company’s patented and scalable technology produces a recyclable and biodegradable end product that has a lower carbon impact compared to traditional glass or plastic packaging.

The company holds both PEFC and FSC Chain of Custody certifications. 

50 million bottles per annum

Pulpex currently operates out of its existing R&D and pilot production facility at its headquarters in Cambridge.

It has existing partnerships with some of the largest global FMCG brands, including Diageo, Unilever, and Kraft Heinz, through which it is developing bespoke products for launch.

The construction of a planned 50M bottle per annum facility near Glasgow will create the UK’s first fibre bottle supply chain, creating 35 new jobs in Scotland.

Scottish Secretary, Ian Murray, says, “I’m delighted to see this first investment in Scotland from the new National Wealth Fund. Boosting business is a cornerstone of our Plan for Change and will create jobs and opportunities to raise living standards.”

“Just last month, we announced that Glasgow had been chosen as one of four areas where the UK Government will develop investment pipelines, and this new Pulpex facility, to be built on the outskirts of the city, is a prime example of how supporting regional growth will benefit people right across the UK. The firm’s innovative bottling solution will aid the decarbonisation of our packaging industry and help accelerate our Net Zero goals as we drive delivery of clean power by 2030,” adds Murray.

Chancellor of the Exchequer, Rachel Reeves, says, “Our Plan for Change is about going further and faster to kickstart economic growth so working people have more money in their pockets.  That’s why we established the National Wealth Fund which in the last six months has fuelled 8,600 jobs and unlocked £1.6 billion of private investment in the industries that turbocharge growth in our economy. This latest NWF investment is welcome news, creating jobs, sustainable growth, and opportunity in Scotland”.