Nvirovate just raised $750K. VertueLab led this round through its Climate Impact Fund, and other investors included E8 Angels and Diversified Chemical Technologies. The Seattle-based startup is developing a sustainable pressure-sensitive adhesive (PSA). The PSA is the element of packaging used to affix the labels to the packages.
Until now, PSAs have been made from petroleum, using an energy-intensive process, and are not compostable. Nvirovate brings a new solution for all of these problems.
The startup led by CEO Jim Holbery has developed a soy-based PSA alternative. This adhesive produces 70% fewer greenhouse gases and drives positive climate impacts throughout its supply and distribution chains.
The competitive cost of Nvirovate eco-friendly adhesive will facilitate switching from current petroleum-based PSAs. The Oregon State University team of researchers developing this solution previously developed a bio-adhesive for making plywood too.
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Diversified Chemical Technologies, Inc. invested in the company. In addition, it will also start manufacturing and distributing the product to its existing customers.
DCTI President and CFO Karl Johnson is very excited to start working with Nvirovate. Its customers are demanding for “green packaging solutions including adhesives so long as the value equation compares favorably with the existing solution”
According to Ken Vaughn, VertueLab’s Director of Impact this investment is a great example of a Pacific Northwest regional collaboration between university researchers, startup entrepreneurs, and investors.
Members of E8 Angels also invested in the deal. The investors’ group based in Seattle was pleased to invest in a local company. Moreover, they were happy to see the participation of VertueLab and Diversified Chemical Technologies, Inc. in this deal.
Editor’s Note: The opinions expressed here by Impakter.com columnists are their own, not those of Impakter.com –In the Featured Photo: Packages piled up. Photo credit: Unsplash.
