Paptic announces announces €1.1M funding round

Paptic Ltd is a Finnish startup company founded in April 2015. Paptic’s new patented technology enables the manufacturing of a revolutionary new fiber product with plastic-like properties. It can replace plastic, for example, in carrier bags and packaging. 

The company raised a seed investment round of EUR 1.1 million euros in April.

The company uses a new technology platform developed at VTT Technical Research Centre of Finland, based on long-term research in fiber products and processes.

“Paptic is a practical example of Finnish excellence in the wood-based bioeconomy. Our innovations are world-class and the possibilities are staggering. 100 billion plastic bags are used every year in Europe alone. Anyone can conclude what kind of opportunities that brings. Our first product is a direct response to the EU directive that seeks to reduce plastic bags usage,” says Tuomas Mustonen.

“Our purpose is to help resolve a major global environmental problem: the accumulation of plastic waste in the oceans and amongst marine life. If all the plastic waste already in the oceans was gathered up and put inside plastic bags there would be around 15 bags per metre of the world’s coastline. Already 70% of the material used in the PAPTIC Bags is renewable and biodegradable, and it can be recycled.”

A demo plant will be established in Espoo to manufacture wood fiber material

The manufacturing of the PAPTIC product will be started on a small scale in the autumn of 2015 at the KCL pilot plant in Espoo. Paptic and KCL are working together to adapt the paper machine for development and production of PAPTIC material. The machine will be used for pilot test campaigns conducted jointly with end-user customers and carrier bag supply chain. “We will gain more experience throughout the value chain, the ability to produce a product, all the way from the paper machine to retail checkout and the consumer.”

PAPTIC material will be produced at an industrial level with paper machines equipped with PAPTIC technology and the aim is to start the industrial production and sales of PAPTIC material in 2016. The company is currently looking for value chain partners for testing industrial production and commercial cooperation.

For more information contact:

Tuomas Mustonen

Founder, Managing Director

+358 50 5987516

tuomas.mustonen@paptic.fi