You are here

Day: January 5, 2023

Stora Enso completes sale of its Nymölla paper mill to focus on development of sustainable solutions

SWEDEN – Finnish forestry group Stora Enso has completed the divestment of its Nymölla paper production site in Sweden and all associated assets to the US-based uncoated paper producer Sylvamo. Announced in September, the divestment transaction was closed after receiving regulatory approvals for an enterprise value of around US$159.13 million (€150m). Stora says that the move will allow it to…

Read More

Packaging start-up AlterPacks secures US$1M in pre-seed funding to expand operations

SINGAPORE – Singapore-based provider of biodegradable food containers, AlterPacks has closed its US$1 million pre-seed funding round to expand operations. The funding was led by Plug and Play APAC and Seed Capital, while other contributing investors included Earth Venture Capital and angel investor Alice Foo. Jupe Tan, Managing Partner of Plug and Play Asia Pacific (APAC) said: “We got to…

Read More

France bans single-use plastics in dine-in restaurants and fast food places to drive circularity

FRANCE – The French Government has passed a law banning the use of single-use packaging in dine-in restaurants, and fast-food places as reported by the Guardian. Effective 1 January, the law prohibits major fast-food chains from offering foods in throwaway boxes or single-use cutlery such as knives or forks. The new law requires restaurants that can serve more than 20…

Read More

Nexus Circular secures US$150M to expand its advanced recycling process

US – Polyolefins producers Nexus Circular has raised US$150 million in seed funding to expedite the growth of advanced recycling solutions for plastics. The funding round was led by Cox Enterprises, a private broadband company based in Atlanta, Georgia, becoming the majority owner. Nexus will use the funds to fulfill recycled-plastic commitments by accelerating the development of its advanced recycling…

Read More