What is Cereplast?
Cereplast, Inc., formerly Biocorp North America Inc., is headquartered in Seymour, Indiana, and specializes in the development and commercialization of bio-based resins. The company's product portfolio includes Cereplast Compostables, an ecologically sound alternative to petroleum-based plastics for applications such as bags, food service products, and packaging. Additionally, Cereplast offers Cereplast Sustainables, which encompass Cereplast Hybrid resins, capable of replacing up to 55% of conventional plastics with plant-derived materials for use in automotive, consumer goods, medical, and construction markets. The company also produces Cereplast Algae Plastic resins, derived from algae. Cereplast's resins are utilized across various manufacturing processes including injection molding, thermoforming, blown films, blow molding, extrusion for profiles, and extrusion coating. The company's operational history includes a Chapter 11 bankruptcy filing in February 2014, which was later converted to Chapter 7 in March 2014.
How much funding has Cereplast raised?
Cereplast has raised a total of $5M across 1 funding round:
growth capital
$5M
growth capital (2010): $5M with participation from Horizon Technology Finance Corporation
Key Investors in Cereplast
Horizon Technology Finance Corporation
Horizon Technology Finance Corporation is a specialty finance company that provides structured debt financing solutions to development-stage companies, primarily in technology and life sciences. They focus on venture lending to businesses backed by venture capital and private equity investors, offering growth capital through secured loans.
What's next for Cereplast?
The recent major strategic investment in Cereplast signals a pivotal moment for the company, likely aimed at bolstering its production capabilities, expanding market reach for its compostable and sustainable resin solutions, and potentially navigating the complexities following its past financial restructuring. This backing is critical for Cereplast to capitalize on the increasing global demand for eco-friendly materials and to solidify its position against competitors in the bioplastics industry.
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