PAPACKS, a Germany-based packaging company, has signed a memorandum of understanding (MoU) with industrial hemp company element6 Dynamics to expand its moulded and thermal-formed packaging in the US.
The companies will create a joint venture (JV), under which they plan to build ten fully integrated moulded and thermal-formed production plants across the country.
Go deeper with GlobalData
The terms of the MoU have not been disclosed, but the JV aims to provide regenerative alternative fibre packaging solutions to consumer-packaged goods, pharmaceutical, technology, and general companies.
The partners will also focus on decarbonisation and reducing plastic use and deforestation across supply chains.
The aforementioned new facilities will be strategically located near element6 Dynamics’ cultivation footprint and academic partnerships, promoting a bioregional approach to ensure cost-effective and environmentally friendly solutions.
PAPACKS CEO Tahsin Dag said: “We believe that element6 Dynamics will be a strong financial and strategic partner for us in the United States.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“The team at element6 Dynamics has successfully delivered the scale we require to deliver to our international customer base.
“The combination of our respective skills, knowledge, technologies, and shared vision positions our partnership for success.”
element6 Dynamics specialises in the breeding, cultivation, and conversion of industrial hemp into market-ready pulp solutions compatible with existing paper mill and packaging infrastructure.
Meanwhile, PAPACKS offers sustainable fibre-based packaging solutions in Europe, serving the barrier-specific food and non-food, pharmaceutical, and cosmetics sectors.
The company prioritises renewable raw materials such as virgin fibre and hemp in its products.
element6 Dynamics CEO Kimberly Kovacs said: “PAPACKS is an innovative leader in fibre-based material, focused on sustainable solutions and we are thrilled to partner with them to bring this joint venture into the US.”
