Planted Materials Secures Pre-Seed Funding in Support of Driving the Circular Economy
Summary
SEATTLE, Nov. 21, 2023 (GLOBE NEWSWIRE) Planted Materials, a pioneering provider of renewable feedstocks to global manufacturers, today announced the completion of their first pre-seed round securing $500,000 in capital at a post-investment valuation of $6.7 million. This milestone achievement marks a significant step in the companys mission to utilize plant waste to produce renewable materials and chemicals to help drive the circular economy, while enhancing Seattles image as a prime location for sustainability-based business.Planted Materials has seen early commercial validation of its waste-to-product biorefinery technology, with the viral launch and growth of its Green Water Labs brand," said Galileo Russell, Founder and Partner at HyperGuap, and one of the participants in this funding round. "We are excited about future product launches as Noah and the team define a new category of sustainable and natural products.Further enabling its ability to rapidly scale, Planted Materials was accepted into the Greater Seattle Export Accelerator (GSEA) program. The GSEA runs in partnership with the U.S. Small Business Administration to collaborate with community, state, and federal international trade entities to support the launch, growth, and scaling of STEM and/or R&D-focused small businesses in the greater Seattle area.Planted Materials CEO was also selected as a delegate to accompany Washington State Governor Jay Inslee on his trade mission to Australia earlier this month. Its consumer products arm, Green Water Labs, operates with a commitment to environmental preservation through the development of plant-based alternatives to chemicals used in and around homes and businesses.