Matereal, an innovative leader in plastic replacement technology, has successfully closed a $4.5 million seed funding round, with Collaborative Fund leading the investment.
This financial backing marks a crucial step forward for Matereal as it advances its mission to decarbonize and detoxify the chemical plastic supply chain, introducing an environmentally safe alternative to traditional plastics.
Introduction of the Polaris™ Technology
The cornerstone of Matereal’s technology is Polaris™, an innovative non-isocyanate polyurethane (NIPU) platform.
Polaris™ stands as a breakthrough innovation in sustainable materials, offering a safe, renewable alternative to conventional polyurethane, which has long posed environmental and health challenges due to its carbon-intensive and toxic nature.
With the global polyurethane market valued at nearly $90 billion annually, the urgency to address these issues is critical.
Key Features and Benefits
Matereal’s solution retains the desirable properties of traditional polyurethane—such as versatility, durability, and cost-effectiveness—while eliminating harmful petrochemicals and toxic isocyanates, which are significant contributors to workplace-related asthma.
The scalable Matereal™ platform leverages artificial intelligence to optimize the use of renewable feedstocks and captured CO2, making it a highly efficient and environmentally friendly option.
Initial Focus and Environmental Impact
Initially focusing on coatings for textiles, the Matereal™ solution not only competes on cost but also promises a profound environmental impact.
It offers a nearly million-fold reduction in toxicity compared to conventional alternatives and has the potential to prevent the release of gigatons of CO2.
Brands seeking to align with environmentally conscious consumers will be the first to pilot this revolutionary technology.
Leadership and Vision
The leaders behind Matereal’s innovative technology include Dr. Philip Pienkos, co-founder and Chief Technology Officer, and his partners at the National Renewable Energy Laboratory (NREL).
Dr. Pienkos’s extensive experience in the plastics industry and his dedication to developing alternative feedstocks for biofuels and bioproducts highlight his commitment to challenging the petrochemical status quo.
“It’s been my mission for the last 7 years to bring this product to market,” Phil stated. “This funding brings us a lot closer to making every product consumers purchase better for them and the environment.”
Jacqueline Ros Amable, co-founder and CEO of Matereal, brings a wealth of entrepreneurial expertise to the team, driven by a personal mission to revolutionize the plastics industry for the benefit of both workers and consumers.
“We are a team driven by an unstoppable vision of eliminating toxic plastic inputs from production and replacing them with alternatives that are good for people and the planet,” said Jacqueline Ros Amable. “We are immensely grateful for the unwavering support of our incredible community of supporters.”
Investment and Advisory Support
Besides the Collaborative Fund, Matereal’s seed round drew investments from notable backers including Better Ventures, Alante Capital, One Small Planet, Climate Capital, Sandy Spring Climate Partners, Pachamama Ventures, and PDS Ventures.
The company is also supported by a distinguished advisory board, featuring Dr. Ann Lai from Skeleton Key, a leading AI expert, and Tim Thomson, CFO from Charm Industrial.
