Climate tech innovator Kelpi has secured more than £3 million fundraising to advance its technology creating biomaterial coatings from seaweed. It is working with the food industry to bring sustainable packaging a step closer to supermarket shelves.
“This landmark investment enables Kelpi to scale up our pioneering work using seaweed to create bioplastic packaging with the barrier properties required by clients,” said Kelpi CEO and co-founder Neil Morris.
Kelpi’s seed round was led by Science Creates Ventures and Green Angel Syndicate, with funding from One Planet Capital and follow-on investment from Bristol Private Equity Club (BPEC), together with private angel investors. The round includes £665,000 of grant funding from Innovate UK’s Combined Investor Partnership.
Morris continued: “Kelpi can now play a key role in eliminating plastic pollution and ending our dependence on fossil fuels to create single-use packaging. We’re delighted to receive this backing from specialist deep science and sustainability investors like Science Creates Ventures and Green Angel Syndicate to allow us to accelerate our pioneering work with major food and drink companies worldwide to prove our materials at scale.”
Kelpi said in its annoucement that seaweed provides a particularly valuable source of carbohydrates for biomaterials. It grows prolifically without need for fertilisers, nor land nor fresh water – offering benefits over alternative plants from which bioplastics can be made. It soaks up carbon as it grows, de-acidifying and re-oxygenating the ocean.