The European Investment Bank (EIB) is providing the Swedish packaging company PulPac with 20 million euros. The aim is to market the environmentally friendly dry moulded fibre technology worldwide as an alternative to disposable plastic.
The European Investment Bank (EIB) is providing a loan totalling 20 million euros to support the Expansion of the Swedish packaging company PulPac. With its patented Dry Molded Fibre technology, the Gothenburg-based company has developed a process that replaces plastic packaging with dimensionally stable fibre products. The focus is on applications in the food and retail sectors such as coffee cup lids, cutlery, plates and clothes hangers.
The funding is part of the InvestEU programme and is intended to support PulPac's Growth and research in the years 2025 to 2029 enable. PulPac plans to further develop its technology to increase material efficiency, improve product performance and increase cost competitiveness.
Alternative to plastic is gaining in importance
The dry moulded fibre technology from PulPac is considered to be significantly more resource-efficient than conventional wet moulding processes. By licensing the process to partners worldwide, the technology is to be scaled globally. „This partnership is a financial milestone and a strong confirmation of our strategy,“ said PulPac Chairman Niclas Möller.
The potential is also emphasised by the EIB: EIB Vice-President Thomas Östros explained that the investment supports a scalable solution in the fight against plastic waste and at the same time strengthen Europe's green transformation. According to PulPac CFO Roderick Sundell, the EIB's flexible credit structure is crucial to making innovative packaging technologies marketable worldwide.
Source: PulPac
