Northern Gritstone's Impressive £2M Investment Fuels Innovations at Bioplastics Pioneer Floreon
Updated: Dec 1
In a remarkable demonstration of commitment to sustainable innovation, Northern Gritstone, an acclaimed patron of academic spinouts and a distinguished player in the venture capital arena, has allocated a substantial infusion of £2 million into the promising realm of bioplastics. We have learned from reliable sources at Sky News that this investment marks an exciting development in the bioplastics landscape.
The recipient of this financial endorsement is none other than Floreon, a trailblazing bioplastics developer renowned for its pioneering utilization of plant-derived materials, including the likes of corn and sugar cane. Founded in 2011 by the visionary entrepreneur Shaun Chatterton, Floreon stands out as a beacon of hope in the quest to combat the global plastic crisis.
What sets Floreon apart is its ability to craft bioplastics that rival the performance of conventional petroleum-based polymers, a significant achievement with profound implications for industries ranging from automotive manufacturing to consumer electronics.
"Everyday oil-based plastics are contributing to the global environmental crisis," Mr Chatterton, who now chairs Floreon, said.
"Our vision is to offer brands an alternative product and, through this, transform the global plastics market."
Duncan Johnson, the chief executive of Northern Gritstone, said Floreon had developed "an innovative and unique technology that offers producers a genuine route to reducing the environmental impact of their plastic products".
"This truly fits into Northern Gritstone's 'Profit with Purpose' philosophy, helping to create the world-class businesses of tomorrow from the world-class science that exists in the North of England today."
This injection of capital into Floreon represents a noteworthy addition to Northern Gritstone's burgeoning portfolio of investments over the past year, highlighted by a remarkable £312 million fundraising effort involving pension funds and institutional investors. In the realm of academic spinouts and intellectual property-rich enterprises, Northern Gritstone has firmly established itself as a critical player in the UK's entrepreneurial landscape.
The roots of Northern Gritstone trace back to the esteemed universities of Leeds, Manchester, and Sheffield, institutions with a combined research force exceeding 8,400 dedicated researchers and a postgraduate student body of 33,000. Collectively generating an annual income surpassing £2.6 billion, these universities have been incubators of 38 Nobel Prize laureates. In tandem with distinguished investors such as M&G Investments, Lansdowne Partners, and the notable Andrew Law, CEO of hedge fund titan Caxton Associates, Northern Gritstone sets its sights on nurturing spinouts in sectors spanning advanced materials, energy, health technology, and cognitive computation.
Northern Gritstone's strategic investment in Floreon underscores its unwavering commitment to fostering groundbreaking innovations to pursue a more sustainable future. This partnership promises to catalyse transformative change, bridging the gap between academic ingenuity and real-world impact, all under the umbrella of 'Profit with Purpose.