Sheffield bioplastic spinout Floreon raises £2m

Founded in 2011, Floreon has been developing a range of bio-based plastic alternatives using plant materials such as corn and sugar cane. The Hull-based company claims its bioplastics have now achieved ‘performance standards required for high-value applications and mass production’ and are capable of replacing traditional plastics in many scenarios.

Floreon said its Therma-Tech product is the world’s first bioplastic to achieve UL94V-0 flammability certification, meaning it can be safely used in sectors such as electronics, automotive and construction. Its Dura-Tech product, though not flame-retardant, is said to deliver structural performance comparable to Acrylonitrile Butadiene Styrene (ABS), a common plastic polymer widely used today. Floreon also manufacturers Bio-Tech, an industrially compostable bioplastic designed for for food packaging and agricultural applications.

“Everyday oil-based plastics are contributing to the global environmental crisis,” Shaun Chatterton, founder and chair of Floreon said in a statement.

“Our vision is to offer brands an alternative product and through this transform the global plastics market. We are delighted to partner with Northern Gritstone. Their support, experience and investment will enable us to develop our team and deliver our commercial strategy.”