University of Sheffield spinoff lands Series A investment for bioplastics

In the UK, the world’s first low-energy, non-oil-based, high-performance bioplastic, developed by Floreon with the University of Sheffield, has secured £2 million financing from Northern Gritstone. 

Northern Gritstone announced a £2 million Series A investment into the bioplastics developer Floreon Technology Limited, a spinout technology from the University of Sheffield.

Floreon has developed a range of bioplastics made from plants, including corn and sugar cane, with performance comparable to Acrylonitrile Butadiene Styrene (ABS), the common plastic polymer widely used in automotive, electronics and electrical appliances and toys.

Unlike other bio-plastic products, Floreon’s materials have uniquely achieved the performance standards required for high-value applications and mass production. Through using plants to take carbon dioxide directly from the air and convert it into sugars that can be used as feedstock for the material, Floreon’s bioplastics production can reduce carbon emissions by up to seven times compared to traditional oil-based plastics.