Creapaper awarded Red Herring Top 100 Europe for grass paper innovationPORTFOLIO NEWS
Since 1996, the American business magazine Red Herring has been honoring promising entrepreneurs and companies with the Red Herring Top 100 Award. It is one of the most prestigious awards for technologically innovative start-ups worldwide and is regarded as an indicator for pioneering entrepreneurial ideas. Companies like Facebook, Skype or the Finnish game developer Supercell received an award before they had their big economic success. In 2019, the jurors honored Hennef-based Creapaper with the Red Herring Top 100 Europe Award. The winners were selected from a circle of around 1,200 European start-up companies.
Creapaper has established itself as the producer of an alternative raw material for the paper and packaging industry. As a starting material, the company uses grass and processes it into grass fibre in the form of pellets. Grass fibre can replace traditional material fibres, i.e. from wood or recycling paper, which are normally used for paper production. The production of grass paper releases 75 percent less CO2 than in conventional productions. In addition, just two liters of water are needed to produce one tonne of grass paper. Paper made of wood or waste paper requires around 6,000 liters. The use of chemicals can also be omitted in the raw material production thanks to Creapaper’s innovation.
With this innovative and patented technology, Creapaper creates the basis for saving large amounts of resources. Despite all the progress that has been made in recent years, the paper industry is always one of the industries with particularly high energy, water and chemical consumption. The immense savings potential offered by Creapaper is therefore a real technological breakthrough. This is also one of the criteria used in the selection of the winners of the Red Herring Award. Furthermore, a company must have already received qualified awards to receive the magazine’s highly renowned price. For Creapaper, these include the Start Green Award 2016, the KfW Award in 2017 and the IKU Innovation Award Climate and Environment awarded in 2018.
Also, market readiness is essential to the jurors. Creapaper was able to score, since there are many Companies that already use grass paper for their packaging, including Coca-Cola, OTTO Versand and food discounters such as REWE, Lidl and Aldi. Creapaper is currently planning to enter the US market, where it is in contact with brand name companies such as Starbucks or McDonalds.
The award ceremony for the Red Herring Top 100 Europe took place at the end of February 2019 in Amsterdam. As one of the few select companies, Creapaper was invited to showcase its innovative technology in Los Angeles at the Top 100 North America Event to interested US investors.
Hennef-based Creapaper GmbH produces up to 75% of its CO2 emissions from water to 6,000 to two using a patented process for the paper and packaging industry based on grass and energy savings Liters per ton and does not require chemistry. Pellets Creapaper provides an alternative raw material, cellulose from fresh fibres (wood) or waste paper in paper production. Already now up to 50% of the indicated wood or waste paper fibres can be replaced.
eCAPITAL is a venture capital firm that provides early to growth stage funding to technology companies in the fields of software & information technology, cybersecurity, industry 4.0, new materials and cleantech. Founded in 1999, eCAPITAL has a history of supporting entrepreneurs determined to build companies with lasting significance. Partnering with eCAPITAL means joining an international network of business leaders, entrepreneurs, technologists and potential partners. eCAPITAL is located in Germany and currently manages funds with over EUR 220 million under management.
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