Floreon is a ‘spin-out’ technology company, who originated from the University of Sheffield. Due to their groundbreaking work in the field of bioplastic technology, the Centre for Process Innovation (CPI), a UK-based tech and sustainable materials accelerator, announced that they will be investing GBP 250 million into Floreon, the bioplastics developer.

This investment will make a huge difference to the company, as it will enable them to scale-up their technology and drive forwards the development of bioplastics. This is the second round of funding that Floreon will have received, with the first being from Northern Gritstone, for GBP 2 million, back in November 2023.

Floreon’s predominant focus is to manufacture proprietary compounds which are based on polylactic acid bioresin (PLA). These substances contain between 70% to 90% renewable, plant-based materials and these involve ingredients such as corn and sugar. The company has stated that, ‘the materials are tougher than traditional PLA and can deliver significant energy savings in processing.’

Another excellent development, is Floreon’s alternative to flame retardant oil-based Acrylonitrile Butadiene Styrene (ABS). The company’s creation of halogen-free bioplastic, is the world's first bioplastic which has accomplished a UL94V-0 flammability certification. This material is also the solution which offers a safe and sustainable option for electrical goods. It is manufactured from plants and it is suitable for both chemical and mechanical recycling. An added benefit of this innovative material, is that it has a carbon footprint which is seven times lower than oil-based plastic.

A final product which Floreon offers, is a compostable grade, which is both recyclable and safe for food-contact. This product’s compounds can be injected moulded in existing manufacturing equipment and they are also deemed suitable for use in construction, cosmetic, automotive, medical, electrical, toys, food & drinks and finally, 3D printing applications.

Managing Director at CPI Enterprises,  Hannah Wade, commented, “This unique company has worked hard to develop revolutionary solutions for an industry that still relies heavily on fossil fuels to produce everyday items. Floreon’s ambitious goal to change the landscape of the plastics industry by producing high quality plastics using sustainable materials certainly caught our eye…I’m delighted CPI can extend our working relationship with Floreon by collaborating with the company to scale-up new technology that will accelerate change in the plastics industry.”