Creapaper wins €1.7-million EIC Accelerator grantPORTFOLIO NEWS
We are honoured that the EIC experts and jury awarded our mission to reduce plastic pollution and CO2 emissions on a global scale. The grant funding will significantly accelerate the roll-out of our grasspaper products and will enable Creapaper to meet the logistical requirements of global brand owners.
Michael Schatzschneider, CFO, Creapaper GmbH
Just as important as the financial support is the motivational push for the entire creapaper team. The EIC Accelerator is one of the EU’s most demanding funding instruments. With 4,223 European companies applying in 2020 only 38 companies including 7 companies from Germany were selected for funding. Creapaper is honoured to receive this endorsement of their sustainable products and business model.
Creapaper produces a highly innovative, sustainable and cost-efficient alternative raw material for the European paper industry, grassfibre, and offers a growing range of grasspaper products to substitute single-use plastics like straws, cups, and bags. Grasspaper products are saving tons of carbon emissions, are free of noxious substances, printable and have a distinctive sustainable, yet premium appearance. They are therefore very attractive for packaging, single-use plastics replacements and even for tissue products. Several awards in the packaging industry and first orders from large, well-known brands confirm these USPs of Creapaper grasspaper products.
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, currently manages funds with over EUR 220 million under management and was lead investor of some very successful German exits like sonnen or Novaled.