THE European Investment Bank (EIB) is lending €20 million to Swedish sustainable packaging company PulPac to tackle plastic pollution.
The financing will support development and commercialisation of a fibre-based technology developed by PulPac as an alternative to single-use plastics.
PulPac is scaling up its patented dry moulded fibre technology, which produces rigid packaging from renewable cellulose fibre. The tech is said to represent a ‘disruptive improvement’ over traditional wet moulding by enabling faster production with lower environmental impact.
The company will focus on food and retail applications, including coffee cup lids, plates, cutlery, bottles, fashion hangers, and pharmaceutical packaging.
“By supporting PulPac, we are backing an innovative and scalable solution that can make a real difference in the global effort to reduce plastic waste and accelerate the green transition,” said EIB VP Thomas Östros. “This financing underlines the EU’s commitment to supporting next-generation technologies with global potential.”
The financing for PulPac is structured as a venture debt loan. It is provided under the InvestEU programme.
“We are honoured by the EIB’s backing and its recognition of dry moulded fibre as a core part of the shift towards sustainable packaging,” said PulPac chairman Niclas Möller. “This partnership is both a financial milestone and a strong validation of our strategy to build a global licensing platform for fibre-based alternatives to plastic.”
