Bpacks, a UK-based developer of an innovative tree bark packaging technology, has announced the successful completion of a €1M pre-seed funding round. This milestone supports the company’s mission to replace plastic materials with sustainable alternatives, rooted firmly in the circular economy.
The packaging is 100% home compostable and made using a composite material derived from up to 80% industrial byproducts.
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“Our product is universal in nature,” explains Lev Bolshakov, co-founder of Bpacks. “It can help manufacturers of food and beverages, cosmetics and beauty products, and household items without causing environmental harm. Its high antibacterial index and ability to extend shelf life meet the demands of our clients.”
The company’s technology allows the use of existing manufacturing equipment for plastics and pulp moulding, making integration into current production streams seamless.
Notably, the eco-friendly packaging extends the shelf life of perishable goods such as meat, vegetables, and fruit by up to seven days, potentially reducing food waste by more than 42%.
Collaboration with Gomex and commercialisation
Responding to rising demand for greener materials and extended shelf life from FMCG retailers, Bpacks has partnered with Serbian retailer Gomex. Operating over 300 stores across Southern Europe, Gomex has taken a leading role in commercialising the innovative tree bark packaging.
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By GlobalData“ESG principles and sustainability are central to our company’s mission,” says Dimitrije Stojanović, CEO of Gomex.
“By introducing this groundbreaking, eco-friendly packaging, we aim to lead by example and inspire more sustainable practices across our industry. The Bpacks solution will reduce product write-offs, enhance shelf life, and minimise waste, aligning seamlessly with our ESG values.”
The global rigid packaging market, valued at $218 billion in 2023, is projected to grow to $366 billion by 2034 at a compound annual growth rate (CAGR) of 5%.
Simultaneously, the emerging market for wood waste in packaging is expected to contribute €100B.
Future expansion and vision
Bpacks has ambitious plans for the coming years. The company aims to secure a seed round by March 2025 to fund the construction of its own pellet manufacturing facility, which will streamline its supply chain for plastics manufacturers and clients.
“With this expansion, we project revenues exceeding €40M with a 30% EBITDA by 2028,” notes Mikhail Taver, advisor and member of the Bpacks Board of Directors.
“Sustainable innovation like Bpacks marks an important step for retailers seeking to reduce their environmental footprint without compromising quality or increasing costs.”
The company operates an R&D centre in Belgrade, staffed by a team of five scientists who have already submitted the innovation for patenting.
Bpacks plans to establish manufacturing operations in Spain by 2025 to address European market demands and is preparing for entry into the United States.
Bpacks’ achievements underline its potential to reshape the packaging industry with sustainable solutions, setting a new standard for eco-friendly innovation.
