Pulpex has successfully raised $75 million in Series D funding to build its first commercial factory near Glasgow, aiming to produce sustainable cellulose-based bottles and establish a supply chain in the UK.

Target Information

Pulpex is an innovative startup that has developed a groundbreaking process for producing bottles made from cellulose. Recently, the company announced a successful Series D funding round, raising approximately $75 million. This round was led by the National Wealth Fund (NWF) of England and the Scottish National Investment Bank (SNIB) from Scotland. Existing partners, including CMPC Ventures, also participated; CMPC has been an investor in Pulpex since early 2023, contributing to previous funding rounds that facilitated advancements in technology development and scalability in Cambridgeshire, UK.

The capital raised will facilitate the construction of Pulpex's first commercial factory, which will be situated near Glasgow, Scotland. This facility is designed to achieve a production capacity of up to 40 million bottles per year and will be essential for implementing the company's patented cellulose fiber technology. The bottles produced will be recyclable and biodegradable, offering a sustainable alternative to plastic and glass packaging across various formats and fitting seamlessly into existing paper recycling streams.

Industry Overview in the UK

The packaging industry in the United Kingdom is undergoing a significant transformation driven by increasing consumer awareness around environmental issues and sustainabilit