Australian company Great Wrap has used potato waste to develop home compostable cling wrap. The company was founded by the husband and wife team, Jordy and Julia Kay. They found a way to divert potato waste from landfill and create a wrap that breaks down into carbon and water in under 180 days.
This meant that last month, Great Wrap raised $24 million in its Series A funding round, with investors including Groundswell Ventures, Springbank Collective, and Trail Mix Ventures. This will allow the company to set up a biorefinery with the capacity to manufacture 30,000 tons of wrap by the end of next year. If this target is achieved, Great Wrap will be Australia’s largest cling wrap manufacturer.
Great Wrap is already available in Australia and will be launching in the US this month. The company plans to open a manufacturing facility in the country next year, adding to its two existing Australian facilities.
Source: vegconomist.com