Floreon develops polylactic acid (PLA) plastics made from renewable feedstocks such as corn and sugar cane, with products using 70–90% plant-based raw materials. The company’s patent-pending Therma-Tech grade is a halogen-free PLA compound that achieved UL94V-0 flammability certification, enabling use in home electronics, automotive and construction. Floreon says its plant-based plastics can have a carbon footprint up to seven times lower than traditional fossil-derived plastics. Founded in 2011 out of a knowledge-transfer partnership with the University of Sheffield, the company positions its technology as a sustainable, high-performance alternative to conventional plastics. The plastics industry is cited as roughly a $600bn market, representing a large addressable opportunity for Floreon’s products. Financially, the company recently received a £250,000 investment from CPI Enterprises following a prior £2.0 million Series A from Northern Gritstone announced last November. Floreon is a spin-out technology from the University of Sheffield that develops bioplastics made from plants including corn and sugarcane. Its materials are designed to match the performance of ABS for applications across automotive, electronics, electrical appliances and toys. Product lines include Therma-Tech, Dura-Tech and Bio-Tech, with Therma-Tech achieving UL94V-0 flammability certification and Bio-Tech being industrially compostable. Floreon says its production process converts plant-captured CO2 into sugars used as feedstock and can reduce carbon emissions by up to 7x compared to oil-based plastics. The company reports its materials have achieved performance standards suitable for high-value applications and mass production. Northern Gritstone’s £2M Series A investment will fund team expansion and help bring the products to market.

Total raised

$3M

Funding rounds

2

Latest round

Equity

Latest activity

May 2024