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Australian start up Uluu receives grant to reinvent plastic from farmed seaweed. This is amazing technology a biodegradable plastic replacement made of seaweed.
Australian start up Uluu receives grant to reinvent plastic from farmed seaweed
Well done to Western Australian company, Uluu for receiving AU $200,000 from the State Government’s Innovation Booster Grant (IBG) and the new Commercialisation Bridge Grant (CBG) programs.The company recently raised AU $8.6 million to build a pilot plant, progress with first-to-market agreements, and develop a global brand around the Uluu story. As well as existing investors Main Sequence, Possible Ventures, Alberts and Misletoe Inc, some headline names such as Neil Perry from Rockpool and Karlie Kloss also invested.Uluu is committed to reduce global use of plastics which are produced from fossil fuels and release microplastics causes the accumulation of harmful waste after disposal and endangering flora, fauna, and human wellbeing. Farmed seaweed can be regeneratively grown to entirely replace the fossil fuels we use to make four hundred million tonnes of plastic every year.This is exactly the type of company EU impact investors are looking at!
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