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Solegear receives investment to boost bioplastic potential

22-Jan-2013

Solegear Bioplastics has received an undisclosed investment from Best Buy Capital.

In addition to the recent Series A financing, led by Yaletown Venture Partners, this commitment from Best Buy Capital will accelerate the development of two bioplastic formulations under the Polysole brand name, both of which will be introduced to the wider market in 2013.

Solegear founder and CEO, Toby Reid, said: “Our strategy of delivering bioplastic solutions to today’s sustainability leaders allows Solegear to help them capitalize on the opportunities that are increasingly arising from the transformation toward a bio-based economy.”

The firm announced a partnership with the National Research Council of Canada (NRC) in September last year to develop bioplastic with increased performance characteristics and said the first products will be commercially available sometime this year.