An emerging biotech start-up from St Asaph is turning the tide on plastic pollution, having successfully closed a significant funding round totalling over £800,000.
The pre-seed round includes an equity investment of £220,000 from the Development Bank of Wales, alongside Innovate UK Investor Partnerships funding, Sustainable Ventures and SFC Capital.
Using sustainably sourced seaweed from Scotland, PlantSea has developed a unique bio-refining technology to produce a ground-breaking water-soluble seaweed-based flexible film that holds both liquids and dry products such as laundry detergents. It mimics the key characteristics of plastic yet is fully biodegradable. The investment by the Development Bank will be deployed to accelerate product development with key multinational customers in the laundry and cleaning sectors. PlantSea’s product portfolio also includes biodegradable mulch film and seaweed-infused paper.
PlantSea was founded in 2020 by Rhiannon Rees, Dr. Alex Newnes and Dr. Gianmarco Sanfratello. The company received OPRL’s recycling certification in April 2024 and now employs ten people.
CEO Rhiannon Rees said:
“We are delighted to receive financial support from The Development Bank of Wales. Our mission at PlantSea is to provide consumers with better packaging choices for everyday products. By tackling harmful plastics that enter our environment and water systems we can contribute to reducing pollution and Co2 emissions.”
“We started our journey while at Aberystwyth University, a place that influenced our shared love for the ocean. We are now poised to make a significant difference by offering alternatives that are not only sustainable but also economically viable. The support of our funding partners means that we can continue with research and development to move beyond laboratory-scale production and start taking our products to market.”
Gareth Mayhead is an Investment Executive in the Technology Venture Investments team with the Development Bank. He said:
“Reducing the use of plastic and non-biodegradable packaging is the most effective means of avoiding landfills and tackling pollution in our oceans. PlantSea is emerging as an exciting leader in biodegradable and compostable materials across a number of different industries. The recent investment round marks a significant milestone in the company’s journey to promote a more sustainable and eco-friendly approach to packaging.”
The equity investment by the Development Bank of Wales came from the £20 million Wales Technology Seed Fund II that is financed by the Welsh Government. Equity investments between £100,000 and £350,000 are available for Welsh tech businesses and those willing to relocate to Wales.
