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Intelligent heating systems startup watttron announced today that it has raised €12 million (USD$13 million) […]]
Watttron Raises $13 Million for Sustainable Packaging Solutions – ESG Today
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Watttron Raises $13 Million for Sustainable Packaging Solutions
Susan Lahey
March 27, 2024
Intelligent heating systems startup watttron announced today that it has raised €12 million (USD$13 million) in a Series B funding round, with proceeds aimed at advancing the company’s sustainable packaging solutions.
Founded in 2016, Germany-based watttron provides solutions aimed at enabling packaging companies to transition to sustainable materials, by addressing challenges to the transition including high costs and requirements to reconfigure machinery and processes. Using intelligent heating systems, watttron’s solutions reduce the energy requirements of its products, and help to achieve flexible and highly efficient production. The company’s products include cera2seal and cera2heat, thermoforming and sealing applications developed to help the flexible packaging industry process sustainable materials without loss of productivity or quality and with lower energy consumption.
The round was led by the circular economy venture investor Circular Innovation Fund and the European Circular Bioeconomy Fund (ECBF).
Guillaume Gras, Investment Director at ECBF said:
“Watttron’s technology represents a quantum leap in sustainable packaging, drastically cutting carbon emissions by reducing material and energy usage, and enabling the use of monomaterials, which significantly enhances recyclability. Simultaneously enhancing production efficiency and cost-effectiveness, this investment signifies more than financial support; it’s a commitment to pioneering a greener, more efficient future in the packaging industry.”
watttron said that the new funding will be used to develop its technological capabilities of sustainable packaging solutions and expand into the American and Asian markets.
Marcus Stein, CEO of watttron said:
“Sustainability is more than just a trend; it’s a commitment we take seriously. We believe sustainable practices will shape the future of the packaging industry, and we are excited to contribute with the support of ECBF and the Circular Innovation Fund.”
Susan Lahey
Susan Lahey started her career as a business reporter for The Kansas City Star and has worked as a freelancer covering business, investment, technology, sustainability and science for numerous publications. She has also worked as a writer and editor for publicly funded projects mandating environmental cleanup of a molybdenum mine in Northern New Mexico; and recovery and resiliency measures following Hurricane Maria in Puerto Rico. Recently she worked as Director of Communications for a European wave energy company.
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