Mitsubishi HC Capital America has announced a strategic relationship with the Seismic Group and PulPac to promote the use of Dry Molded Fiber (DMF) technology in paper packaging.

This collaboration aims to reduce plastic pollution by offering finance and lease programmes that support the adoption of the sustainable packaging solution.

Mitsubishi HC Capital America is set to provide financing solutions for equipment necessary to manufacture PulPac's DMF products.

This move is part of a broader initiative to address sustainability in packaging, with a focus on efficiency and eco-friendly practices.

The Seismic Group, meanwhile, PulPac's North American business development partner, will assist in developing these sustainable fibre products for manufacturers and brands.

Mitsubishi HC Capital America EVP and president for vendor solutions Jim Freund said: "Sustainability is a core initiative and major focus for Mitsubishi HC Capital America.

“As businesses rethink their entire packaging model with sustainability and efficiency as a priority, our work will bring the expertise, technology and financing together to ensure a successful transition.”

The Seismic Group is known for its consultative approach to sustainability challenges in manufacturing.

PulPac's technology is a cornerstone of the partnership, offering a method to produce fibre-based packaging with lower water and energy usage, and up to an 80% reduction in carbon dioxide emissions.

Seismic Group managing director Kent Dahlgren said: “Working with Mitsubishi HC Capital America represents the best of sustainable financing and manufacturing acumen.

“Businesses need to be innovative to remain competitive. Sustainable manufacturing and products are quickly becoming a necessity, and this allows companies to benefit from our forward-thinking services, as well as Mitsubishi HC Capital America’s longstanding financing expertise and market-leading position in financing this type of equipment.”

PulPac COO Viktor Borjesson said: “Implementing new technologies is a big undertaking for any business, and we are pleased to now offer our customers financing alternatives for their investment in our technology.

“Dry Molded Fiber has the potential to move the needle in packaging, and together with Mitsubishi HC Capital America and the Seismic Group, we can drive innovation and sustainability by accelerating the adoption of dry moulded fibre.”

Earlier in May this year, PulPac expanded its reach in the sustainable packaging market by partnering with OptiPack, a provider of packaging prints and barrier solutions