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.
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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).
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By GlobalDataFrugalpac 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.
