Led · Series B · Nov 2021

Evanesce manufactures compostable straws and other sustainable packaging products, with production facilities in South Carolina and Nevada. The company is expanding its product line to include compostable cups and cutlery. In March it produced approximately 40 million compostable straws at its South Carolina facility and about 90 million total straws in Q1 2022, all of which were sold. Evanesce plans to list its shares in 2022 on either the TSX or the NASDAQ. Management expects significant year‑over‑year revenue growth driven by increased business with professional sports teams and theme parks. The company has an incentive program that includes purchase warrants used by investors. Evanesce designs, develops and manufactures compostable plant-based packaging including Evanesce Biopolymers and its patented Evanesce® Molded Starch technology. The company upcycles starch and fiber by-products to produce home-compostable packaging that decomposes in significantly less than 90 days and is positioned to be cost-competitive (about half the cost of other certified compostable alternatives, per the company). Evanesce is scaling manufacturing capacity and has opened facilities in Early Branch, South Carolina and Las Vegas, Nevada, with plans to purchase equipment to expand PLA biopolymer and Molded Starch production and to grow operations and sales teams. Its business model encompasses manufacturing, licensing, collaborative partnerships and joint ventures to accelerate adoption. The company says its solutions are manufactured in the USA and are commercially scalable. Headquartered in Vancouver, Canada, Evanesce aims to meet rising regulatory and consumer demand for sustainable foodservice and packaging alternatives. Financially, the company has raised over CAD $15M (US$12M) to date.