Floreon Develops Game-Changing Low-Energy Bioplastic to Replace Oil-Based Materials
Floreon, a bioplastics developer, has created the world's first low-energy, non-oil-based, high-performance bioplastic that can be used as a replacement for existing materials. This innovative material offers better performance than existing bioplastics for use in high-value engineering and is the first halogen-free bioplastic to achieve a UL94V-0 flammability rating. It also has the potential to reduce carbon emissions by up to 7x compared to oil-based alternatives. Floreon Technology Limited, the company behind this groundbreaking development, has received a £2 million Series A investment from Northern Gritstone, an investment business focused on university spin-outs and science and technology-enabled businesses in the North of England.
Floreon was founded in 2011 by Shaun Chatterton, an entrepreneur, and later joined by CTO Dr.
Andrew Gill in 2013. The company is based in Hull and emerged as a spin-out technology from the University of Sheffield. It specializes in producing bioplastics made from plants such as corn and sugar cane, which have performance levels comparable to Acrylonitrile Butadiene Styrene (ABS), a common plastic polymer used in various industries. With the majority of plastics being derived from fossil fuels, bioplastics offer a sustainable and eco-friendly alternative. The global bioplastics and biopolymers market is expected to reach $27.3 billion by 2027, highlighting the growing demand for such materials.
Unlike other bio-plastic products, Floreon's materials have successfully met the performance standards required for high-value applications and mass production. By utilizing plants to extract carbon dioxide from the air and convert it into sugars used as feedstock for the material, Floreon's bioplastics have the advantage of significantly reducing carbon emissions compared to traditional oil-based plastics. Some of Floreon's notable innovations include Therma-Tech, the first bioplastic to achieve UL94V-0 flammability certification, Dura-Tech, a fire-resistant alternative to ABS, and Bio-Tech, an industrially compostable version ideal for food packaging and agricultural applications.
The investment from Northern Gritstone will enable Floreon to expand its team and bring its innovative bioplastic products to market. Shaun Chatterton, the Founder and Chair of Floreon, expressed his excitement about the partnership, stating that it will help transform the global plastics market by offering brands a sustainable alternative. Duncan Johnson, the CEO of Northern Gritstone, emphasized the positive environmental impact of Floreon's technology and its alignment with their "Profit with Purpose" philosophy. He believes that Floreon's unique technology can help producers reduce the environmental footprint of their plastic products and contribute to the creation of world-class businesses in the North of England.
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