Amcor, Nfinite enter joint research agreement to leverage nanotechnology in recyclable and compostable packaging
ZURICH, March 22, 2023 /PRNewswire/ -- Amcor (NYSE: AMCR) (ASX: AMC), a global leader in developing and producing responsible packaging solutions, today announced a joint research project agreement with Nfinite Nanotechnology Inc. to validate the use of Nfinite's nanocoating technology to enhance both recyclable and compostable packaging.
In the proof-of-concept phase of the project, Nfinite's coating technology will be applied to Amcor's existing recyclable and compostable packaging material. The objective is to deliver an oxygen barrier to improve performance for recyclable and compostable packaging. Once validated, the next stage of development will seek to ensure the products are optimized to Amcor's manufacturing processes and analyze additional substrates like bio-based materials to create more sustainable applications.
This project marks an important milestone in the partnership between Amcor and Nfinite that began in 2022 when Nfinite was selected as an Amcor Lift-Off winner. In addition to receiving $250,000 in seed funding, Amcor Lift-Off start-ups have the opportunity to work with Amcor's Research & Development team to create new applications that can advance both companies' efforts toward driving circularity.
Amcor Vice President of Corporate Venturing and Open Innovation, Frank Lehmann, said, "This joint research project agreement is an important step, and showcases Amcor's solution-based commitment to sustainability and innovation. Collaborating with innovative start-ups like Nfinite, particularly in the early stage of this exciting new technology, is one more way we are working to advance our shared sustainability goals."
Chee Hau Teoh, co-founder and CEO at Nfinite Nanotechnology, said, "We're very pleased to have Amcor's support in advancing our ambitions to deliver this nanocoating technology in packaging applications. Once scaled up, we can begin looking for pilot companies eager to leverage this technology."
To learn more about how Amcor's collaboration with Nfinite began as a result of the Corporate Venturing team's Amcor Lift-Off program, click here.
Amcor is a global leader in developing and producing responsible packaging solutions for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that is increasingly lighter weight, recyclable and reusable, and made using an increasing amount of recycled content. In fiscal year 2022, 44,000 Amcor people generated $15 billion in annual sales from operations that span 220 locations in 43 countries. NYSE: AMCR; ASX: AMC
www.amcor.com I LinkedIn I Facebook I YouTube
About Nfinite Nanotechnology
Nfinite Nanotechnology is a venture-backed advanced material company based in Waterloo, Canada, that aims to build a more sustainable world through the advancement of compostable and recyclable packaging. Nfinite's breakthrough nanocoating technology is based on more than 10 years of science and experience in the development of advanced functional thin films.
Nfinite is commercializing its rapid, open-air nanocoating platform, which produces large-area, high-quality, ultrathin-films at low cost. Nfinite's mission is to provide the packaging industry with a sustainable path forward by delivering high-performance barriers layers for sustainable packaging, accelerating the world's goal to eliminate plastic packaging pollution.
Source: Amcor Related Stocks: Australia:AMC NYSE:AMCR
Vietnam seeks to expand overseas markets for lychees, longans
Over 700 durian trucks stuck at Vietnam-China border
Vietnam willing to join efforts for CPTPP elevation, IPEF negotiations
Cambodian National Assembly ratifies ASEAN trade in services agreement
The market is in recession, tuna export businesses are facing significant challenges