Matereal Inc. Secures $4.5M in Seed Funding to Combat Toxic Plastics

On July 25, 2024, Matereal, a frontrunner in plastic replacement technology, proudly announced the successful closure of its $4.5 million seed funding round, led by the Collaborative Fund. This significant investment will advance Matereal to the next phase of development, aiming to introduce a new, environmentally safe plastic to the market. The funds will advance the company’s mission to decarbonize and detoxify the chemical plastic supply chain.

The technology driving Matereal’s transformative efforts is the commercialization of its groundbreaking chemical platform, Polaris™. This innovative non-isocyanate polyurethane (NIPU) represents a major breakthrough, providing a sustainable and safe alternative to traditional polyurethane—a plastic known for its difficulty in decarbonization. Polyurethane is present in nearly every consumer product, from fashion items to paints, yet it is a non-renewable resource with limited end-of-life options. Given the global polyurethane market’s nearly $90 billion annual value, addressing its carbon-intensive and toxic characteristics is crucial, and Matereal is poised to replace it.

Matereal’s approach integrates the beneficial qualities of traditional polyurethane—such as versatility, durability, and cost-effectiveness—with advanced chemistry to remove petrochemicals and toxic isocyanates, which are major contributors to workplace asthma. The Matereal™ scalable platform uses artificial intelligence to enhance the use of renewable feedstocks and captured CO2.

Initially targeting coatings in textiles, the Matereal™ solution offers competitive pricing while achieving a significant impact. It provides a near-million-fold reduction in toxicity compared to traditional alternatives and has the potential to prevent the release of gigatons of CO2. Brands aiming to engage with consumers through environmentally friendly options will be the first to pilot Matereal™.

Matereal's groundbreaking technology is built on the collaborative work of Dr. Philip Pienkos, the company’s co-founder and Chief Technology Officer, and his partners at the National Renewable Energy Laboratory (NREL). Dr. Pienkos’s extensive experience working in a plastics factory, combined with his lifelong commitment to researching alternative feedstocks for biofuels and bioproducts, highlights his dedication to challenging the conventional petrochemical industry.

Phil stated, “For the past 7 years, my mission has been to bring this product to market. This funding brings us significantly closer to ensuring that every product consumers buy is better for both them and the environment.”

Co-founder and CEO Jacqueline Ros Amable brings extensive entrepreneurial expertise, driven by a personal mission to transform the plastics industry for the benefit of both workers and consumers.

Jacqueline Ros Amable states, "Our team is driven by an unyielding vision to remove toxic plastic inputs from production and replace them with alternatives that benefit both people and the planet. We are deeply grateful for the steadfast support of our remarkable community of supporters."

Sophie Bakalar, Partner at the Collaborative Fund, notes, “Matereal has the potential to make a significant impact across various industries, as polyurethane is present in everything from furniture to automotive parts. The team’s advantage is their capability to produce polymers that are functionally equivalent to polyurethane through a seamless, scalable process for manufacturers.”

Alongside the Collaborative Fund, Matereal's seed round garnered investment from notable backers including Better Ventures, Alante Capital, One Small Planet, Climate Capital, Sandy Spring Climate Partners, Pachamama Ventures, and PDS Ventures. The company is also supported by a distinguished group of advisors, such as Dr. Ann Lai from Skeleton Key, a prominent AI expert, and Tim Thomson, CFO of Charm Industrial.