36.6 million for traceless materials in Series A round
In a Series A financing round, Hamburg-based startup traceless materials secures 36.6 million euros. The round is led by private equity fund UB FIGG SWEN CP's Blue Ocean Fund. Also participating are a local banking syndicate consisting of GLS Bank, Hamburg, and Hamburger Sparkasse, and three existing investors Planet A, High-Tech Gründerfonds (HTGF) and b.value. The financing is primarily for the construction of a production plant.
A production plant for biomaterials is being built in Hamburg
The bioeconomy startup traceless materials GmbH was founded in 2020 by Dr. Anne Lamp and Johanna Baare in Hamburg. With its innovative technology, the company produces natural biomaterials from plant residues from the agricultural industry that are bio-based, home-compostable, plastic-free and have a minimal environmental footprint. According to the company, compared to plastic, 91% of CO2 emissions and 89% of fossil energy requirements can be saved during production and disposal. To exploit this potential, the technology is now being raised up from pilot scale to industrial scale.
To this end, traceless materials is building a demonstration plant in Hamburg. With this production plant, the company plans to replace several thousand metric tons of conventional plastic annually while saving significant amounts of CO2 emissions, fossil resources, water and agricultural land. Earlier this year, the German Federal Ministry for the Environment (BMUV) had already approved a grant of 5 million euros for the construction of this demonstration plant.
