Pulpex Completes Successful Series C Funding
4 July 2023
Pulpex, a Pilot Lite-backed business, announced a successful investment round enabling the company to deliver a world-first, commercial-scale production line to produce genuine paper bottles made of 90%+ sustainably sourced fibre.
The investment round brought together global visionary leaders in sustainability, including CMPC, one of the world’s largest pulp and paper companies. Further sustainability impact investors have also invested alongside our existing shareholders including Diageo and Pilot Lite Capital.
Pulpex CEO, Scott Winston, said “The scaling of our Pulpex paper bottle technology marks another inflection point in the step change required to reduce reliance on existing packaging formats, which are used out of necessity rather than suitability. It also provides a viable alternative that is available globally and has all of the recycling, sustainability and environmental benefits that fibre packaging naturally brings. Our technology will enable and accelerate the availability of sustainable fibre packaging for our major brand customers and their packaging suppliers, in turn enabling them to meet consumer demand for more sustainable packaging and helping them to meet their carbon reduction goals for 2030.”
Felipe Alcalde, Chief Competitiveness and Innovation Officer, CMPC said "We are very excited to be partnering with Pulpex and have an enthusiastic, dedicated team of technical, strategic and commercial experts to support Pulpex's growth to industrial scale, maximising the many synergies to develop more sustainable products based on our pulp. This is a very important step for CMPC to invest in a company with great potential such as Pulpex, while allowing us to explore new opportunities for our packaging business."
Lazard acted as financial adviser in relation to the Series C funding round.