Fedrigoni acquires stake in packaging tech company Papkot
The Fedrigoni Group, an Italy-based speciality paper manufacturing for packaging, has acquired a minority stake in Papkot, a startup known for developing the first large-scale paper coating technology that mimics the properties of plastic.
This acquisition is part of Fedrigoni's corporate venture capital programme aimed at identifying and scaling industry-changing startups.
The Fedrigoni Group CEO Marco Nespolo said: 'This investment has enormous potential for Fedrigoni.
'We will have the opportunity to acquire disruptive technology in plastic-to-fibre that will allow us to increasingly support our customers in their efforts to develop monomaterial and fully recyclable packaging.
'Furthermore, Fedrigoni will play a key role in accelerating the industrialisation phase, which is essential for the scalability of the Papkot business model.'
Papkot's advanced barrier technology is claimed to replace silicon and cellulose with a nanostructured material, effectively eliminating plastic from single-use packaging.
The collaboration between Fedrigoni and Papkot is set to accelerate the global deployment of this technology.
Founded in 2020 by CEO Manuel Milliery, Papkot has research and development hubs in France and China and manufacturing partnerships in the US, France, and China, Papkot already caters to global food and consumer goods brands.
The company's technology boasts 'high' resistance to substances such as water, grease, oil, and glycerol while also offering transparency and other custom surface properties essential for packaging.
Papkot asserts that its coatings are fully recyclable and devoid of harmful substances, including per- and polyfluoroalkyl substances.
Its proprietary technology has a wide array of applications, ranging from disposable food packaging and fire-retardant paper to transparent materials and disposable cups.
The coatings are said to have undergone extensive validation on a variety of paper substrates, both virgin and recycled.
Papkot is also conducting industrial trials to enhance compatibility with the varied requirements of converters and brand owners.
Papkot CEO Manuel Milliery said: 'From 2020, we have a mission to eliminate plastic from packaging and from our daily lives. I welcome our new strategic investor and partner.
'With Fedrigoni, we are committed to sustainability, high standards, attention to detail and continuous improvement.
'The injection of new capital and the group's global network will allow us to boost our international growth path and investment in research and development.'
In February last year, Fedrigoni Group acquired specific assets from the US-based company Mohawk Fine Papers.
"Fedrigoni acquires stake in packaging tech company Papkot" was originally created and published by Packaging Gateway, a GlobalData owned brand.
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