Why we invested: Plantsea
The Plantsea team with investors Stuart Ferguson (SV) and Edward Stevenson (SFC)
The global plastic waste problem is showing no sign of slowing, with plastic and non-biodegradable packaging currently accounting for around 40% of the 2 billion tonnes of global waste created each year. In Europe, we’re currently generating around 178 kg of packaging waste per person per year.
It’s clear that innovation is necessary in order to buck these unsustainable trends within the packaging industry. Plantsea, our most recent investment, is on a mission to tackle this problem with their seaweed-derived materials which can be used as a direct substitute for traditional plastic and non-biodegradable packaging. Founded in 2020, Plantsea’s seaweed-based materials mimic the key characteristics of plastic yet are fully home compostable - design features which will enable brands and retailers to seamlessly replace plastic packaging and reduce their environmental impact.
The team initially came to the attention of Sustainable Ventures through a pitch competition held at the beginning of 2023, alongside other portfolio companies such as Batch.Works and Kuppa. The team demonstrated the potential of their novel materials through several use cases including food and cosmetic packaging, applications which they have continued to refine since this initial pitch.
Following a great deal of noise around the plastic pollution problem, the demand for viable alternatives is palpable. Yet many initiatives have fallen short of the benefits once touted by plastics. Alternatives must perform as plastics do if we are to phase them out of our existing supply chains. With Plantsea's biodegradable “plastic-like” films, paper, and fibreboard, all derived from seaweed, our investment team believes they are unlocking a significant step towards a more sustainable future, reducing both plastic waste and the associated carbon emissions.
Another critical element to Plantsea’s offering is their unique biorefining process - which includes sourcing seaweed from Scotland, in comparison to buying highly expensive and processed Asian imported alginate. This feature makes their material more cost-effective as well as reducing Scope 3 emissions.
Our investment in Plantsea was driven by the current state of this sector and the change required to bring it in line with global Net Zero targets, a demand that is mirrored by the further investment that has been provided by SFC, along with grants totaling £1.8 million from Innovate UK and the Welsh Government.
To learn more about Plantsea and their journey to upending the plastics industry visit their website: plantsea.co.uk.