“As the world works to contain and overcome the COVID-19 pandemic, it is critical that we work together to achieve our goal of building a safe and resilient clean energy future for Canadians.”
Canada-based bioplastics specialist TerraVerdae Bioworks has secured C$4.5m in new funding from Alberta Innovates, Natural Resources Canada’s Clean Growth Program (CGP) and other investors to boost its material development capabilities.
The investment also includes advisory services and research and development funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
With the proceeds, TerraVerdae (@TerraVerdae) will improve its expertise and upgrade its equipment that is used to produce industrial bioplastics.
The funding will also help the company to expand its product development facilities in Edmonton.
William Bardosh, CEO and founder, TerraVerdae Bioworks, said: “Each year the forest industry plants millions of tree seedlings. With Arbor Day taking place in many jurisdictions from late April to early May, we think this is a great time to announce this major funding from Alberta Innovates, Natural Resources Canada and the National Research Council of Canada, along with private investors in our global network.
“We have achieved major milestones in the last year, including a significant expansion of our technical resources and capabilities, and increased partnerships for technology access, development and commercialisation.”
In a statement, TerraVerdae said its proprietary polymer technology (polyhydroxyalkanoate or PHA) is carbon-neutral and uses renewable carbon feedstock such as municipal and forestry waste or agricultural residues. The company’s product focus is on films and coatings, thermoplastic mouldings, adhesives and specialty PHAs.
One product is a bioplastic pouch for tree seedlings that will be consumed by soil microbes and disappear within several months of planting in the forest. TerraVerdae plans to test launch the bioplastic pouches later this year for commercial use by foresters, to be followed by other bioplastic products for use in other sectors.
“As the world works to contain and overcome the COVID-19 pandemic, it is critical that we work together to achieve our goal of building a safe and resilient clean energy future for Canadians. We are supporting local businesses and investing in projects like TerraVerdae’s to position Canada as a leader in green innovation and sustainability. Creating less pollution and more jobs at a time when it is needed most,” said Seamus O’Regan, Canada’s Minister of Natural Resources.