UK-based sustainable packaging firm Frugalpac has secured additional funding of £2m as it prepares for the next stage of development.
The company’s directors agreed to the investment at the Annual General Meeting. The action received support from Frugalpac’s 72 private shareholders.
The investment comes just ahead of the company’s launch of a new range of products with a reduced carbon footprint, including a paper bottle for wine and spirits.
The company is known for the world’s first coffee cup made from recycled paper.
Known as Frugal Cup, it is produced using 96% recycled paperboard with a polyethylene (PE) food grade liner.
According to the company, the existing conventional cups are made of virgin paperboard and tightly bound plastic or polylactic acid (PLA).
Frugalpac chief executive Malcolm Waugh said: “This is a massive vote of confidence in a pioneering British company at the forefront of designing and producing innovative sustainable packaging.
“We are looking forward to the imminent launch of further Frugalpac products which include a Frugal Bottle for wine and spirits and a Frugal Pot for foods such as noodles, porridge, yoghurt and ice cream.
“All Frugalpac products are made from at least 90% recycled paper, are easily recyclable again and have the lowest carbon footprint compared with conventional packaging.”
The company is set to introduce a range of products such as Frugal Bottle for wine and spirits and Frugal Pot for foods such as noodles, porridge, yoghurt and ice cream.