Great Wrap makes fully compostable machine pallet wrap (and previously sold a consumer compostable cling wrap) certified by the Australasian Bioplastics Association. Its wrap is made from compostable biopolymers and plant-based oils, delivers up to 250% pre-stretch, and is denser and stronger than traditional wrap so customers can reduce thickness. The company is B‑Corp certified and has shifted focus from a consumer subscription service to B2B, targeting pallet-wrap waste in supply chains. Great Wrap recently scaled production by moving from the Mornington Peninsula to a larger facility in Tullamarine after a prior funding round. It has partnered with Opal ANZ to add its compostable pallet wrap to Opal Packaging Plus and to leverage Opal’s distribution. The business aims to produce 5,000 tonnes of certified compostable machine pallet wrap as part of efforts to divert traditional plastic from landfills. Great Wrap produces a range of compostable stretch wraps — Cling Wrap, Catering Wrap and Pallet Wrap — made from potato processing waste and a PHA biopolymer. The company first commercialised its wrap in 2020 and moved into its first facility in 2021. After closing a $24 million funding package, Great Wrap expanded into a new 12,000 sqm Tullamarine facility with capacity to manufacture 30,000 tonnes of compostable stretch wrap by the end of 2023. Phase two plans include commissioning an on-site biorefinery to produce PHA from local potato waste, expected in 2023, with capacity to upcycle nearly 50,000 tonnes of waste annually. The expansion is expected to create about 100 jobs in Victoria. Great Wrap is pursuing vertical integration to source local waste from a major potato processor and is working on collection solutions with Australian industrial composting facilities for pallet wrap end-of-life. Co-founders Jordy and Julia Kay say the equity raise will support product growth, team expansion, R&D and international market launches.

Total raised

$29M

Funding rounds

3

Latest round

Seed

Latest activity

Aug 2024