Ecoinno, a Hong Kong-based green material company focused on providing alternatives to single-use plastics, closed a US$6m Series A1 funding.
Backers included Alibaba Hong Kong Entrepreneurs Fund and Alibaba Taiwan Entrepreneurs Fund II.
The company intends to use the funds to begin industrial-scale production of its proprietary Green Composite Material™ (GCM™) and to strengthen its material research and engineering platform.
Co-founded by CEO Mr George Chen Dah Ren and COO Ms Vivian Chang, incubated within the Hong Kong Science and Technology Park (HKSTP), and sustained with grant funding from the Hong Kong Innovation and Technology Commission (ITC), Ecoinno has developed a patented Green Composite Material™ (GCM™) and related processes, based 100% purely on NATURAL PLANT FIBRES – an abundant, renewable, and naturally occurring polymer. GCM™ harnesses the natural attributes of plant fibres, notably:
1. 100% biodegradable in the natural environment within 75 days;
2. extreme temperature tolerance (allowing freezing and oven reheating);
3. Three times stronger than plastic and bioplastic in tensile strength;
4. Impermeable to Oxygen (extremely low transmission rate, on par with even metal);
5. Water and Oil-resistance, and most importantly,
6. Toxic free (passed FDA test).
FinSMEs
07/05/2020