
Matereal Inc. Raises $4.5M Seed Round, To Lead the Fight Against Toxic Plastics
Matereal’s hallmark technology seeks to replace the toxic polyurethane industry
DENVER, July 25, 2024 (GLOBE NEWSWIRE) -- Today, Matereal, a pioneering plastic replacements technology, proudly announces the successful closure of its $4.5 million seed funding round, led by the Collaborative Fund. This key investment propels Matereal into its next stage of development to bring a new environmentally safe plastic to market. The funds will support the company on its mission to decarbonize and detoxify the chemical plastic supply chain.
The technology powering Matereal's transformative agenda is the commercialization of its groundbreaking chemical platform, Polaris™. This innovative non-isocyanate polyurethane (NIPU) is a monumental breakthrough, offering a sustainable and safe alternative to traditional polyurethane—a historically challenging plastic to decarbonize. Nearly every product sold to consumers contains polyurethane, from fashion to paints, but it is not a renewable resource and has limited, to no, end-of-life options. With the global polyurethane market reaching nearly $90 billion annually, the need to address its carbon-intensive and toxic nature is paramount, and Matereal is on a path to replace it.
Matereal's approach combines the desirable attributes of traditional polyurethane—versatility, durability, and cost-effectiveness—with cutting-edge chemistry to eliminate petrochemicals and toxic isocyanates, the primary culprits behind workplace-related asthma. The Matereal™ scalable platform leverages artificial intelligence to optimize the utilization of renewable feedstocks alongside captured CO2.
Focused initially on coatings in textiles, the Matereal™ solution not only boasts competitive pricing but also delivers impact on a monumental scale, offering a nearly million-fold reduction in toxicity compared to conventional alternatives, and the potential to avert the release of gigatons of CO2. Brands seeking to connect with consumers on environmentally friendly alternatives will be the first pilot customers to embrace Matereal™.
The foundation of Matereal's revolutionary technology stems from the collaborative efforts of Dr. Philip Pienkos, the company's co-founder and Chief Technology Officer, alongside partners at the National Renewable Energy Laboratory (NREL). Dr. Pienkos's firsthand experience in a plastics factory, coupled with a lifelong dedication to exploring alternative feedstocks for biofuels and bioproducts, underscores his commitment to challenging the petrochemical status quo.
“It’s been my mission for the last 7 years to bring this product to market,” Phil said, “This funding brings us a lot closer to making every product consumers purchase better for them and the environment.”
Co-founder and CEO Jacqueline Ros Amable brings a wealth of entrepreneurial expertise, fueled by a personal mission to revolutionize the plastics industry for the betterment of both workers and consumers.
"We are a team driven by an unstoppable vision of eliminating toxic plastic inputs from production and replacing them with alternatives that are good for people and the planet," says Jacqueline Ros Amable. "We are immensely grateful for the unwavering support of our incredible community of supporters."
“Matereal has the potential for massive impact across industries – polyurethane is found everywhere from furniture to automotive parts. The team’s edge lies in their ability to produce polymers that are functionally identical to polyurethane in a frictionless, scalable process for manufacturers.” - Sophie Bakalar, Partner at the Collaborative Fund.
In addition to the Collaborative Fund, Matereal's seed round attracted investment from prominent backers such as Better Ventures, Alante Capital, One Small Planet, Climate Capital, Sandy Spring Climate Partners, Pachamama Ventures and PDS Ventures. The company also boasts a roster of distinguished advisors, including Dr. Ann Lai from Skeleton Key, a leading AI expert, and Tim Thomson, CFO from Charm Industrial.
With this significant infusion of funding and dedicated team, Matereal is poised to reshape our material environment into a new era—a Matereal World (cue the music).
Learn more or schedule a discovery call at matereal.co
Contact: hello@matereal.co
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0c18273a-25e8-45c4-9693-f681b767e207
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Iveco Group signs a 150 million euro term loan facility with Cassa Depositi e Prestiti to support investments in research, development and innovation11.6.2024 12:00:00 CEST | Press release
Turin, 11th June 2024. Iveco Group N.V. (EXM: IVG), a global automotive leader active in the Commercial & Specialty Vehicles, Powertrain and related Financial Services arenas, has successfully signed a term loan facility of 150 million euros with Cassa Depositi e Prestiti (CDP), for the creation of new projects in Italy dedicated to research, development and innovation. In detail, through the resources made available by CDP, Iveco Group will develop innovative technologies and architectures in the field of electric propulsion and further develop solutions for autonomous driving, digitalisation and vehicle connectivity aimed at increasing efficiency, safety, driving comfort and productivity. The financed investments, which will have a 5-year amortising profile, will be made by Iveco Group in Italy by the end of 2025. Iveco Group N.V. (EXM: IVG) is the home of unique people and brands that power your business and mission to advance a more sustainable society. The eight brands are each a
DSV, 1115 - SHARE BUYBACK IN DSV A/S11.6.2024 11:22:17 CEST | Press release
Company Announcement No. 1115 On 24 April 2024, we initiated a share buyback programme, as described in Company Announcement No. 1104. According to the programme, the company will in the period from 24 April 2024 until 23 July 2024 purchase own shares up to a maximum value of DKK 1,000 million, and no more than 1,700,000 shares, corresponding to 0.79% of the share capital at commencement of the programme. The programme has been implemented in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (“MAR”) (save for the rules on share buyback programmes set out in MAR article 5) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour rules. Trading dayNumber of shares bought backAverage transaction priceAmount DKKAccumulated trading for days 1-25478,1001,023.01489,100,86026:3 June 20247,0001,050.597,354,13027:4 June 20245,0001,055.705,278,50028:6 June20243,0001,096.273,288,81029:7 June 20244,0001,106.174,424,68
Landsbankinn hf.: Offering of covered bonds11.6.2024 11:16:36 CEST | Press release
Landsbankinn will offer covered bonds for sale via auction held on Thursday 13 June at 15:00. An inflation-linked series, LBANK CBI 30, will be offered for sale. In connection with the auction, a covered bond exchange offering will take place, where holders of the inflation-linked series LBANK CBI 24 can sell the covered bonds in the series against covered bonds bought in the above-mentioned auction. The clean price of the bonds is predefined at 99,594. Expected settlement date is 20 June 2024. Covered bonds issued by Landsbankinn are rated A+ with stable outlook by S&P Global Ratings. Landsbankinn Capital Markets will manage the auction. For further information, please call +354 410 7330 or email verdbrefamidlun@landsbankinn.is.
Relay42 unlocks customer intelligence with a new insights and reporting module, powered by Amazon QuickSight11.6.2024 11:00:00 CEST | Press release
AMSTERDAM, June 11, 2024 (GLOBE NEWSWIRE) -- Relay42, a leading European Customer Data Platform (CDP), is leveraging Amazon QuickSight to power its new real-time customer intelligence, reporting, and dashboard module. Harnessing the breadth and quality of customer data, the new Insights module empowers marketing teams to dive deep into customer behaviors and gain invaluable insights into the performance of their marketing programs across all online, offline, paid, and owned marketing channels. Preview of the Relay42 Insights module, in pre-beta version Key capabilities of the Relay42 Insights module include: Deep insights into customer behaviors: With the Relay42 Insights module, marketers can ask unlimited questions about their data and gain a deeper understanding of how to serve their customers more effectively. Simplicity with AI-powered querying: Marketers can use artificial intelligence to query their data using natural language search, reducing the reliance on data scientists. Us
Metasphere Labs Announces X Spaces Event on the Topic of Green Bitcoin Mining and Sound Money for Sustainability11.6.2024 10:30:00 CEST | Press release
VANCOUVER, British Columbia, June 11, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. (formerly Looking Glass Labs Ltd., "Metasphere Labs" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N) is thrilled to announce an engaging Twitter Spaces event on Green Bitcoin mining, energy markets, and sustainability on July 3, 2024 at 2 p.m. ET. Follow us on X at MetasphereLabs for updates and to join the event. What We'll Discuss Bitcoin Mining Basics: Understand the fundamentals of Bitcoin mining.Energy Market Dynamics: Explore how Bitcoin mining interacts with energy markets.Sustainable Innovations: Learn about our efforts to promote sustainability in Bitcoin mining.Sound Money: Discover how tamper-proof currency can enhance stability.Efficient Payment Rails: See how fast, neutral payment systems support humanitarian projects.Carbon Footprint: Compare Bitcoin's environmental impact with traditional banking. "We're excited to host this event and dive into the critical topics of Bitcoin