2 minute read - 20th February 2025
Pulpex secures funding to build new manufacturing facility
Pulpex, a sustainable packaging technology company, has announced a £62m Series D investment round led by the National Wealth Fund (NWF) and the Scottish National Investment Bank. The fundraise will finance the construction of Pulpex’s first commercial-scale manufacturing facility near Glasgow.
Pulpex has developed a unique, fibre-based bottle solution that is free from hidden plastic. It is manufactured from sustainably sourced wood pulp and designed to be recycled in the same way as paper or cardboard in normal household recycling streams. Its patented and scalable technology results in a recyclable and biodegradable end product with a lower carbon impact than current glass or plastic packaging formats.
Pulpex currently operates out of its existing R&D and pilot production facility at its headquarters in Cambridge. It has existing partnerships with some of the largest global FMCG brands, including Diageo, Unilever, and Kraft Heinz, through which it is developing bespoke products for launch. The construction of a planned 50 million bottle per annum facility near Glasgow will create the UK’s first fibre bottle supply chain, creating 35 new jobs in Scotland.
The NWF will cornerstone the round, committing £43.5m in direct equity, with a £10m co-investment from the Scottish National Investment Bank and the balance from existing investors.
Sustainable packaging technology company Pulpex has secured £62m in a Series D investment round. The fundraise will finance the construction of its first commercial-scale manufacturing facility near Glasgow / Picture: Pulpex
Pulpex says a move from plastic and glass to paper packaging will enable a step change in decarbonising the packaging industry and its efforts to increase consumer goods recycling rates. Paper benefits from the highest recycling rates and the most sophisticated infrastructure compared to other packaging alternatives.
Scott Winston, CEO of Pulpex, said: “Thanks to the National Wealth Fund, the Scottish National Investment Bank, our Pulpex team, and to our stakeholders for their continued support. This investment will drive the decarbonisation of the packaging sector using cutting-edge material bioscience to ensure this much-needed alternative to glass and plastic will deliver its ambition. Accelerated by the incredible business ecosystem that flourishes within Glasgow, this will be a visible shining star demonstrating the scalability of Pulpex technology for partners to adopt globally.”
In the UK alone, over 38.5 million plastic bottles are used daily, with around 16 million ending up in landfill, being burnt, or littering the environment and waterways, according to Water UK. The UK’s 25-year Environment Plan aims to double resource productivity and eliminate all avoidable waste, including plastic, by 2050. This means investments in economically viable, scalable and ready-to-go options like Pulpex are critical interventions for the future sustainability of the consumer goods industry.
