Biotech Bluepha has secured close to $100m Series B funding to boost bioplastics production and R&D to develop greener solutions for industrial manufacturers.
Why
Plastic pollution
Plastic products and packaging, mainly single-use plastics, are non-degradable pollutants plaguing our environment.
High cost of PHAs
PHA biodegradable plastics cost more to produce commercially than conventional non-degradable plastics.
Market
$18.9bn
Projected value of the global synthetic biology market by 2024, growing at a CAGR of 28.8% from $5.3bn in 2019: BCC Research
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