SgMA secures financing to accelerate the green packaging revolution
It’s about time to tackle single-use plastics
Sol-gel Materials and Applications Limited (SgMA) is excited to announce an investment by funds managed by Oaktree Capital Management, L.P. (Oaktree) to help accelerate the scale-up of SgMA’s Solgelica technology for 100% plastic-free packaging solutions in the EU and the UK.
Solgelica is an award-winning paper-treatment technology based upon silica sand. Solgelica makes water- and oil-proof paperboard for food and drinks applications, that are compliant with regulatory safety standards, without using any toxic chemicals or compromising the paper’s recyclability or biodegradability. According to Fanya Ismail, the founder and CEO of SgMA and the inventor of Solgelica, “so-called ‘green’ packaging products are not as eco-friendly as they first appear. Many products include plastic or so-called bioplastic. No matter the type of plastic, these products leak harmful particles into our environment and our bodies over decades as the packaging breaks down.”
The plastic problem that the world is facing has reached a crisis point. It is believed that over 140 million tonnes of plastic packaging are produced throughout the world each year. The Ellen Macarthur foundation suggests that around 8 million tonnes of this plastic leaks into our oceans each year. The carbon emissions associated with the manufacturing, usage, and disposal of plastic packaging is estimated at around 1.8 Gt annually. To address this global crisis, the EU is trying to do its part to solve the problem of plastics with the Single Use Plastics Directive. However, legislation alone is not going to solve this problem. Solgelica is part of the solution!
Oaktree is a leading global investment manager that specialises in alternative investments. Hermann Dambach, Managing Director and co-portfolio manager at Oaktree, says, “With this investment and SgMA’s technology and passion, we see an exciting opportunity to help SgMA accelerate its innovations in plastic-free packaging solutions.” For more information, please contact: info@sol-gel.co.uk