Solegear Bioplastic Technologies, a global-leading bioplastic technology company headquartered in Vancouver, Canada, announced yesterday that it has formally closed the previously announced strategic acquisition of the bioplastics division of Ex-Tech Plastics for consideration of $1.33 million in common shares of the Company at a deemed price of $0.20 per share. Ex-Tech, based in the Chicago, Illinois, area has been a leading manufacturer of extruded plastic sheets for over thirty years.
Made from plant starches, Biome3D is a biodegradable plastic that combines easy processing and a superior print finish, while offering much higher print speeds. Developed in partnership with 3Dom Filaments, the new material was unveiled today at the TCT Show 2014, the leading event dedicated to 3D printing, additive manufacturing and product development.
The British plan for the bioeconomy takes a step forward. Biome Bioplastics CEO, Paul Mines, has been appointed to the management board of the Lignocellulosic Biorefinery Network (LBNet), a government-funded body tasked with fostering cross-disciplinary communities in the industrial biotechnology sector. LBnet is an active community of industrial practitioners and leading academics generating economic value through novel chemical, material and fuel processes that use lignocellulosic biomass as an alternative to petroleum-derived inputs.
The UK’s innovation agency, the Technology Strategy Board, has awarded a grant to a consortium led by Biome Technologies, to investigate a bio-based alternative for the oil derived organic chemicals used in the manufacturer of bioplastics.
The research will be undertaken by the group’s bioplastic division Biome Bioplastics, one of the UK’s leading developers of natural plastics, in conjunction with the University of Warwick’s Centre for Biotechnology and Biorefining.
The £150,000 grant (approximately 215,000 €) is part of the Technology Strategy Board’s ‘Sustainable high value chemical manufacture through industrial biotechnology’ technical feasability competition, which funds projects that apply sustainable bio-based feedstocks and biocatalytic processes in the production of chemicals.