Follow us on Twitter Follow us on Facebook View our linked in profile View our RSS feeds
SustainableBusiness.com
 
News
Your daily source for sustainable business & sustainable investor news.

(view sample issue)


This is an archived story. The information and any links may no longer be accurate.

05/25/2011 11:20 AM     print story email story  

3M Invests in Mushroom Packaging Company Ecovative

SustainableBusiness.com News

Ecovative Design, a leader in mycelium-based materials science (materials made from mushrooms), received an equity investment from 3M (NYSE: MMM), suggesting the materials manufacturer may one day move into mushroom-based products.

Ecovative has gained attention for selling compostable packaging made from mushrooms to Steelcase Inc. and Dell Inc. (Nasdaq: DELL).  We recently reported that Dell is now shipping some of its products in the packaging.

3M (through its 3M New Ventures business) joined Rensselaer Polytechnic Institute, and DOEN Foundation in funding the company for an undisclosed amount.

The investment will be used to scale Ecovative's manufacturing operations and accelerate development of its revolutionary, grown polymeric materials.

Founded in 2007, Ecovative produces packaging that can be composted at home and is a cost-competitive replacement for conventional petrochemical foams. The company uses mycelium, or "mushroom roots," as a self-assembling glue.

Ecovative operates a pilot production facility in upstate New York, and plans to expand to new regional manufacturing facilities in the US.

The technology has applications across a variety of industries including packaging, insulation, building products, automotive, and consumer goods.

Dell is using the company's EcoCradle certified mushroom-based packaging. It is grown from agricultural by-products using less energy than existing processes, while offering the performance of traditional foams.

Ecovative's newly-constituted Board of Directors includes veteran business leaders with experience in plastic foams, building materials, licensing, and manufacturing.

Website: www.ecovativedesign.com



Reader Comments (4)

Author:
jack Gilroy

Date Posted:
05/19/13 11:54 PM

I'm interested in investing in Ecovative. Please advise.

Report this post

Author:
jack Gilroy

Date Posted:
05/19/13 11:55 PM

Is Ecovative on the stock market. If not when? Or why not?

Report this post

Author:
Rona Fried

Date Posted:
05/20/13 11:59 AM

Ecovative is a private company with no plans to go public as far as I know. This was a private equity investment.

Report this post

Author:
Merrill Wheaton

Date Posted:
09/30/14 12:31 AM

Dear E-Team, I am so psyched about this because when I was you I would etch mushroom, remove the gills & make little bowl when the dried out. I think designing with shroom fabrics, shroom "paper"towels & TP and even 3D mushroom printing will be a huge environmental salvation. I hope some team is work on finding a bacteria to eat styrofoam like that one that eats oil spills. I have a cousin in Troy and would love to see you all if I get up there. Big Hugs and congratulations. Merrill

Report this post

Add Your Comment

(Use any name, your real name is not required)
Type the characters you see in the picture below.

home |about us |contact us |advertise |feeds |privacy policy |disclosure

Compare Green Cars   |   Find Alternative Fueling Stations