Netherlands-based Paques Biomaterials, a leader in developing PHA polymers using circular feedstocks, has announced securing €14M in fresh funding. This investment, led by Invest-NL and NOM, marks a significant advancement in the company’s technology for producing a sustainable alternative to fossil plastics.
Emma den Held, Investment Manager at Invest-NL, praised Paques Biomaterials for its innovative approach to creating a completely circular solution that prevents the spread of microplastics. The company’s patented technology and strong management team have positioned it to make a substantial contribution to a circular economy.
Capital Utilization for Caleyda Extraction Facility
The raised capital will facilitate the construction of a Caleyda Extraction Facility in Emmen. This facility will enable the extraction of Caleyda, a high-quality biopolymer boasting 100% biodegradability in natural environments. Caleyda’s versatility makes it suitable for various applications, offering a promising alternative to traditional plastics.
Future Plans for Mass Production
Paques Biomaterials aims 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 is well-positioned to secure a significant market share in the growing bioplastics industry.
Technology Behind Caleyda
The company has advanced the technology behind Caleyda, utilizing bacteria in organic residual flows to produce the biopolymer PHA. Extensive testing on laboratory and pilot scales, including a 2022 demo installation in Dordrecht, has paved the way for this development.
Collaborations and Market Potential
In 2023, Paques Biomaterials collaborated with Kolon Industries (South Korea), Looop (Venlo), and Senbis Polymer Innovations (Emmen) to refine the technology further. Co-founder Joost Paques expressed gratitude for the investors’ confidence in their technology, seeing it as an opportunity to scale up and create a new, circular chain for producing a natural plastic alternative.
Sytze Hellinga, NOM Investment Manager, recognized the founders’ determination and knowledge, seeing great potential for PHA and its role in co-financing this next step towards a natural alternative to plastic.
With this funding, Paques Biomaterials is set to make significant strides in the bioplastics industry, contributing to a more sustainable future with its innovative PHA technology.