March 2025
- Martin Mulvihill
- Mar 25, 2025
- 4 min read
Updated: Aug 12, 2025
PHAs
One of the main US based producers of PHAs polymers, Danimer Scientific (DNMR), filed for Chapter 11 at the end of March 2025. Danimer’s latest 10-Q financial report, as of the end of Q3 2024, shows decreasing revenues and a negative gross margin. Danimer has raised more than $700 million in financing. Despite this setback, the global PHA manufacturing capacity continues to expand, with China being the largest supplier.
PHAs (Poly Hydroxy Alkanoates) are a class of bio-based polyesters. Together with starch-based polymers, PHAs are among the few industrial bio-based polymers that are also naturally occurring in the wild and can biodegrade in marine environments. PHAs can also improve the processability and thermal stability of other biobased polymers and are often blended with other bio-based polymers such as the more widely used PLA.
PHAs reportedly sell for between $2 and $5 per pound. For comparison, PLA sells for about $1.3 per pound, still a higher price compared to petroleum-based polyester which sells for about $1 per pound. Young companies focused on PHAs manufacturing need to demonstrate the potential to achieve costs that would allow them to price within a narrow premium to the established polyester and PLA resins, while also raising the capital required to manufacture resin at scale.
We see an opportunity for early-stage companies to focus on additives, blending, process technology, packaging design, and branding. Companies that bring to market functional packaging that meets standards like home compostable or marine biodegradable can be successful while requiring less capital. Examples include Plantswitch and RePurpose that work with a wide range of bio based polymers (including PHAs) and bring to market certified compostable products that are competitively priced.
SF Climate Week Safer Made Event: "Reducing Plastic Pollution - What works?"
Join us on the morning of April 22nd in downtown San Francisco for a panel on reducing pollution from single-use packaging co-hosted by EnVest and Safer Made.
Plastic’s unique performance and low-cost attributes made it the dominant packaging material. Unfortunately, plastic has some significant downsides including few end-of-life management options, pollution, and the use of harmful additives and petrochemical feedstocks. Reducing the negative impact of plastic will require a broad range of innovative approaches and solutions, investment, and patience.
We will hear the perspective of a brand, a startup CEO, and a philanthropic funder on their work to address the potential impacts of plastic packaging while still meeting the cost and performance expectations of brands and consumers. Register here.
Safer Firefighting
The American Cancer Society recognizes that firefighters generally face elevated risks of cancer incidence and mortality compared to the general public. One study published in 2020 found that firefighters are particularly at risk for cancers such as melanoma (50% higher), prostate cancer (36% higher), thyroid cancer (117% higher), and testicular cancer (66% higher) compared to the general population.
Firefighters are exposed to a wide range of hazardous chemistries such as dioxins, halogenated aromatics, and PFAS, from smoke, debris, and firefighting products.
One source of potential exposure is the PFAS chemistry used in AFFF firefighting foams that has been linked to increased cancer risk. Firefighters in both government and industry are reevaluating the use of PFAS containing AFFF foams and major suppliers of firefighting solutions are now offering PFAS-free foams. While a step in the right direction these new products are viewed by the industry as less capable of fighting difficult fires compared to the AFFF foams, and may still contain other types of hazardous chemistries. There’s an opportunity for a new generation of products such as hydrogels that are safer and more effective than either PFAS containing AFFF or the new “green foams.” Examples of companies bringing to market hydrogel products include Strong Water and FireRein.
Another source of exposure comes from the halogenated flame retardants bulk incorporated into the plastic materials that go into electronics, furniture, and building products. These halogenated flame retardants cause more smoke and hazardous combustion products, while their fire safety benefits have been questioned. Solutions would include developing non-halogenated flame retardant plastic additives that could be safely added to furniture, electronics, and insulation, and expanded use of biobased materials, that are inherently less flammable than plastics.
Financings
Addis Energy, a company using subsurface heat and pressure to produce geologic ammonia in a carbon-free and net energy-positive process, raised $4.3 million.
Alloyed, a company that designs metal alloys and manufactures components using 3D printing, raised $47.9 million.
Albert Invent, a software tool designed to streamline and enhance chemical research and development, raised $20 million.
BlueShift, a company developing electrochemical technology to extract critical minerals and rare earth elements from industrial waste and seawater, raised $2.1 million.
Cambium, a company that transforms fallen trees into sustainable wood products for construction and design, raised $18.5 million.
CarbonZero.Eco, a company processing almond shells into biochar, raised $3.5 million.
Enveda, a company that analyzes molecules produced by living organisms to create treatments for diseases like atopic dermatitis and asthma, raised $20 million.
Epoch BioDesign, a company developing enzymes that break down hard-to-recycle plastics into valuable chemicals, raised $18.3 million.
Graphitic Energy, a company converting natural gas into clean hydrogen and solid graphite, raised $15 million.
Lila Sciences, a company that uses AI to design and automate research raised $200 million.
METYCLE, an online platform connecting sellers of scrap metal with recyclers, raised $14.7 million.
Mitico, a company designing chemical sorbents to capture CO₂ from industrial facilities like power plants and factories, raised $4.3 million.
Project Eaden, a company developing plant-based meat products using proprietary fiber spinning technology inspired by the textile industry raised $15.6 million.
Pulpex, a plastic-free paper bottle manufacturer, raised £62 million.
ReSource Chemical, a company creating plastics from carbon dioxide and non-edible plant matter and raised $15 million.
Scimplify, a company that helps suppliers and brands develop and produce specialty chemicals, raised $40 million.
Spore.Bio, designer of a device that identifies harmful bacteria on-site within seconds, raised $23 million.
STAX Engineering, a company building systems to remove pollutants from ships’ exhaust, raised $10 million.
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