In a significant step towards combating plastic waste and promoting sustainable packaging, Big Idea Ventures (“BIV”) has announced the launch of TerraSafe Materials, Inc. As the first portfolio company of BIV’s Generation Food Rural Partners Fund (“GFRP Fund”), TerraSafe is set to revolutionize the material science industry by developing eco-friendly products, coatings, and applications for sustainable packaging.
The alarming statistics regarding plastic pollution have garnered global attention in recent years. According to a report by McKinsey & Company, approximately 65% of all plastics end up in incinerators and landfills, contributing to environmental degradation that poses significant challenges to waste management systems worldwide. TerraSafe Materials is committed to addressing this issue head-on by developing innovative alternatives to traditional petroleum-based packaging materials.
By partnering with various universities to license intellectual property, TerraSafe aims to create new biopolymer compounds that can effectively replace conventional plastics in various applications, including food packaging. The innovative materials developed by TerraSafe have the potential to significantly reduce plastic waste and its adverse impact on the environment.
The launch of TerraSafe Materials is not just a milestone for sustainable packaging; it also represents a crucial stride in driving economic growth and development in rural communities. The Generation Food Rural Partners Fund, a Rural Business Investment Company (RBIC)-licensed investment fund, focuses on evaluating intellectual property innovations in the agriculture, food, and protein sectors. The GFRP Fund then invests in creating new companies that can commercialize these innovations for broader applications.
These new companies are strategically headquartered in rural communities, generating living wage jobs and bolstering local economies. By targeting rural areas, the GFRP Fund aims to bring about meaningful change by fostering innovation and sustainability while empowering communities that have traditionally been underserved in terms of venture capital and technological advancements.
To spearhead TerraSafe’s mission, the board of directors has appointed Scott Bolin as Chief Executive Officer. With a strong track record of success in the biomaterials and materials startup space, Mr. Bolin brings invaluable expertise to the table. Having previously founded Tethis, a biomaterials company, and Next Century Spirits, a materials startup, he has successfully transitioned innovative technologies from the laboratory to commercialization. Mr. Bolin’s visionary leadership is set to drive TerraSafe’s efforts in creating impactful and sustainable solutions for the packaging industry.
TerraSafe’s inception marks the beginning of an ambitious journey towards a future with reduced plastic dependence. By harnessing the collective brilliance of multiple universities and partnering with leading experts in the field of material science, the company will make a lasting impact on the agriculture, food, and protein industries. With Big Idea Ventures as a formidable backer, TerraSafe gains access to a strong network of strategic partners, ensuring it remains at the forefront of FoodTech and AgriTech innovations. BIV’s extensive experience in investing in over 110 companies across 30 countries further reinforces TerraSafe’s potential for global reach and influence.
Image provided by Big Idea Ventures