Zeroplast, founded in Austria in 2017 with the aim of developing alternatives suitable for everyday use to commonly used plastics, has been acquired by Greiner Innoventures, the innovation arm of plastics and foam expert Greiner, the companies have announced. The company has been renamed Greiner Zeroplast.
Based in Kremsmünster in Austria, Greiner Innoventures works with startups as a corporate business angel, looking for and researching new ideas and identifying future-oriented, innovative techniques and technologies. In doing so, the company lays a foundation for the continuity of Greiner, with investments and strategic decisions designed to ensure Greiner’s access to technology that will allow Greiner to keep pace with developments in the industry.
“With our new subsidiary Greiner Zeroplast, we are hoping to open up new opportunities in the field of alternative plastics," said Hannes Möseneder, managing director of Greiner Innoventures.
"We believe that nothing should be off limits when it comes to innovation. Greiner has been around for more than 150 years, and it all began with hand-made corks for bottles. If history has taught us anything, it's that radical innovations are sometimes necessary if we are to continue to be successful in the future," added Axel Kühner, CEO of Greiner AG.
Zeroplast has created an injection-mouldable material that is both sustainable and circular. As Greiner Zeroplast, further work will be directed at transitioning this to a commercial product.
When it started its development work, the company emphasised it was not aiming to redesign conventional plastic packaging to make it greener, lighter, better, more efficient or recyclable. Zeroplast had a far more radical goal: to create alternative bio-based compounds and packaging solutions that were plastic free and in no way competed with animal feed or food production. Furthermore, these compounds were to be processable on conventional equipment.
Two years after its founding, at K 2019, the company presented its first bio-based natural material which was not only recyclable and biocompatible but which was also free of genetically modified organisms (GMOs) and chemical additives. At the K fair, a cosmetic jar and lid were being produced from the new compound on a Wittmann Battenfeld EcoPower machine at that machinery manufacturer’s stand.
The material was made from just three ingredients - wax, minerals and fibers - and was completely recyclable without losing any physical properties.
The acquisition is another step in Greiner's transformation towards becoming more innovative and sustainable. And Greiner Zeroplast is not the first startup with a production facility in Spillern to be supported by Greiner. Last year, Greiner Innoventures acquired a stake in Hempstatic, another startup also located in Spillern that makes soundproofing panels from hemp. Both these acquisitions illustrate Greiner’s philosophy that in deals like this can bring mutual benefits to both sides, with ideas that complement each other, engendering new opportunities.