Bioextrax scales production and recruits new talent
Materials Business Center matches the material needs of the industry and public sector with innovative solutions from regional startups and researchers. Today, the project is working with 30 materials related cases close to market in, for example, energy, water, environment or health. One of the startups is Bioextrax, a company that produces the environmental-friendly bioplastic PHA.
Bioextrax has developed a unique method of breaking down protein rich materials. One of the end products is the bio-based and biodegradable plastic PHA that replaces fossil-based plastics, such as the much criticized microplastics in cosmetics.
Edvard Hall is CEO of Bioextrax and he has presented the environment-friendly PHA at Materials Business Centers’ Innovation Summits:
– Materials Business Center has been extremely valuable to our company. By taking part in activities such as Innovation Summits, where you as a startup present your case to the industry, we have been matched with potential customers. We met with a global cosmetics company and a larger company in the packaging industry and the match later resulted in actual collaborations, says Edvard Hall.
Challenge to scale production
The market demand is high when it comes to bio-based and biodegradable plastics, but there are still no products on the market that matches the low production costs of fossil-based plastics. According to Edvard Hall, Bioextrax’s product has the potential to reach the same low production cost.
– Thanks to the contacts we received through Materials Business Center, we got our first customer, which was the market validation we needed in order to succeed with our first seed investment. We’re now able to scale the business, scaling up production and hire new talent, says Edvard Hall. The PHA market as we see it is huge – our goal is to become a world leader in bio-based and biodegradable plastics.
During the three years the project Materials Business Center runs, in total 60 companies have presented their challenges and new solutions at Innovation Summits. Many of the companies have also received support such as materials related expertise, business advisory or access to analytical resources.
If you have a materials related challenge, or if you’re interested in participating, contact us at firstname.lastname@example.org