Nanotechnology breakthrough for packaging Flexible, thinner, better and sustainable
Investors have put $6 million U.S. into a nanotechnology startup out of the University of Waterloo that has developed an ultra-thin, flexible, clear and sustainable alternative to current food packaging.
Nfinite Nanotech will use the funds to commercialize a new coating for cardboard and paper, providing a sustainable alternative to current food packaging that can’t be recycled or composted.
The strong interest in Nfinite’s seed round reflects the startup’s potential impact on one of the biggest environmental challenges facing the planet — eliminating plastics.
“The priority focus for us right now is to get to market,” said Cofounder and CEO Chee Hau Teoh.
The shiny interior of packages for potato chips, granola bars, breakfast cereals and the like are made out of layers of plastic around a layer of aluminum. The packaging keeps the chips or granola bars fresh tasting for months by blocking oxygen and moisture, but they can’t be recycled or composted.
About 400 million tonnes of plastic waste are produced every year. One of the dominant producers of that waste are consumer packaged goods — the target market for Nfinite’s nanotechnology coating.
Producers of packaged goods for consumers, and packaging manufacturers, have publicly committed to reducing their negative impacts by 2030. By that time the global market for sustainable packaging is expected to hit $737.6 billion US.
“We have done the proof of concept, it is time to get to the pilot launched,” said Teoh.
Nfinite’s nanotechnology coating is 1,000 times thinner than a human hair, but 650 to 1,000 times better at blocking oxygen and moisture than current packaging. Because it is flexible, it can be used on a wide variety of products.
Teoh estimates food products will be for sale in packages using Nfinite’s nanotechnology coating within five years.
The Seed round investors are led by Collateral Good, with participation from Suzano Ventures as a strategic investor, FTW Ventures, MaRS IAF, Overlay Capital, Ponderosa, and Republic Capital, including non-dilutive funding from Next Generation Manufacturing Canada.
Kevin Musselman developed the underlying technology for Nfinite while at Cambridge University. Musselman brought it with him when he came to teach in the nanotechnology materials group at the University of Waterloo.
Musselman is cofounder of Nfinite Nanotech and chief scientific officer.
Teoh’s research for his master’s focused on scaling and commercializing Musselman’s technology. They cofounded the startup on Earth Day in 2021 along with Jhi Loke, the chief technology officer. Loke also studied under Musselman.
“We now have the resources to really change the industry,” said Teoh. “Now we are well funded to get to the next stage.”