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SPRINGBOARD® in Copenhagen: Startup develops innovative, proprietary process to transform walnut shells into durable and attractive packaging solutions

  • 21 Aug 2024
  • 14:00 - 17:00
  • Future Manufacturers, kl 14:00 til 17:00 pa H. C. Andersens Blvd. 18, 1553 København
  • 15

Registration

  • Tilmeldingsfrist: 14. august 2024.
  • Tilmeldingsfrist: 14. august 2024.
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Introduction to SPRINGBOARD®

The company transforms walnut shell waste into high-performance, biodegradable packaging materials, tackling the harm of fossil-based plastics. Combining renewable resources with advanced biopolymers, the company is able to offer durable, lightweight, and affordable solutions. Targeting cosmetic brands and producers, the eco-friendly solutions meet consumer demand for green alternatives and fit standard production machinery.

Currently in product development phase, focusing on material refinement and assuring regulatory compliance. Scheduled market launch of initial products by end of 2025. Collecting further interest from early adopters in the cosmetics industry.


Areas for sparring

For this SPRINGBOARD®, panelists with competencies/experience within these themes, are needed for sparring (prioritised):

                                          1. 1. Decision Making for Business and Product Development

                                             Collaborations vs. Hires: Deciding the advantages of strategic partnerships versus building an in-house team can help optimize resources and expertise.

                                            Seniority and Expertise: Assessing the need for experienced professionals in the core team versus hiring external experts to balance cost and capability.

                                            Collaboration Models: Determining whether long-term partnerships or short-term project-based engagements provide better value and agility for the company's growth.

                                          3. 2. Funding Related to Pilot Production

                                             Forecasting: How do we accurately calculate financial forecasts for pilot production? Making adequate budgeting and resource allocation for pilot production

                                            Funding Requirements: Identifying the right funding amount and ensuring it covers all necessary aspects to achieve a successful pilot.

                                            Timing and Type of Funding: When should we seek funding, and which types of funding (e.g., grants, venture capital, angel investors) are most suitable? (not losing control but assuring enough financial support)

                                          5. 3. Decision Making for Further Material Development

                                          6. Outsourcing Balance: How much of the product development process should be outsourced to ensure quality and efficiency?


                                              Industry: Environment

                                              Development stage: Pre-proof of Concept

                                              Company's CVR region: Capitol

                                              Competencies in the panel:

                                              • Production
                                                Financing, Funding & Raising Capital
                                              • Business Development

                                              Note: This SPRINGBOARD® will be held in English

                                                The Company and Idea

                                                We want to rethink sustainable packaging solutions by repurposing wasted walnut shells, addressing critical environmental issues like CO₂ emissions and plastic waste accumulation. Our approach combines innovation with a commitment to true circular economy principles, utilizing an abundant and renewable resource, easing the decision for companies to make more sustainable choices.


                                                Product / Service

                                                We develop a biodegradable and moldable material derived from walnut shells, that is intended to be suited for cosmetic packaging like jars and boxes. This material is designed to be attractive, lightweight, durable, and affordable, offering a sustainable alternative to fossil-based plastics without compromising on functionality or aesthetics.


                                                Solution

                                                Our bio-composite material uses the natural properties of walnut shells—cellulose and lignin—to create greener packaging solutions with great mechanical characteristics such as strength and durability, stability, and UV protection. It meets industry standards for performance and enhances footprint reduction for companies. Through early cradle-to-grave assessment, we estimate a 40% reduction in GHG emissions compared to conventional single-use HDPE.


                                                Business Model

                                                Direct B2B sales to cosmetics companies focused on sustainability. Revenue streams include selling standard packaging solutions and licensing our proprietary biomaterial to other manufacturers. SME’s have shown interest in the development of our solution, due to being aware of the need for a shift and the need to differentiate with more sustainable options. After we have shown initial traction in the industry with pilot cases, we also intend to sell our material to packaging producers, allowing them to use our material for production, increasing the adoption of our solutions and our impact.


                                                Customers

                                                Initial target: Cosmetics companies seeking sustainable packaging solutions to align with regulatory requirements and consumer demand for eco-friendly products. Validated need and attraction by receiving 2 LOIs and addressing companies in the beachhead market.


                                                The Market

                                                Growing demand for sustainable packaging solutions driven by regulatory changes (EU directives on single-use plastics) and consumer preferences for eco-friendly products. The market standard is still plastic, the industry has undergone a ‘premiumization’ shift on the ingredients side already and is now looking to do so on the packaging end.

                                                30% of the global primary plastic production is dedicated to producing packaging, with 45% of plastic packaging being rigid packaging and cosmetics accounting for the second largest sector of use. The cosmetic industry alone produces over 120 billion packaging units per year, a concern we witnessed firsthand in our industry experience.


                                                Finance / Financing

                                                Initial investment of DKK 750,000 secured from Nordic BioVentures in January 2024.

                                                Continued funding through grants (Innofounder 1,090,000 dkk), accelerators (DTU GreenUp; Convertible Loan of around 500,000 dkk).

                                                We have signed LOI’s for Q3/4 2025 that, in total, sum up to a revenue of 115.000 DKK. The initial profit will probably be around 50.000-10.000 depending on the production method and the sum of initial costs for the first production (mold, time to adjust machine settings, etc.).


                                                Status

                                                Currently in product development phase, focusing on material refinement and assuring regulatory compliance.

                                                Scheduled market launch of initial products by end of 2025. Collecting further interest from early adopters in the cosmetics industry.

                                                CONNECT Denmark — Bryghuspladsen 8, 3. sal, 1473 København K — Telefon: +45 27 28 17 86 — E-mail: connect@connectdenmark.com — Sociale platforme:
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