Groningen 29 July 2019 - Foamplant has announced the successful closing of a 2 million euro seed investment round with the early-stage venture capital funds Shift Invest and Future Food Fund. The investment will be used to launch the foam-based and peat-free horticultural substrate: Growfoam, as well as to fund further product development for biodegradable technical foams.
Earlier this year, Foamplant introduced the horticultural substrate Growfoam. Growfoam is a patent-pending plant substrate for seedling germination and plant cultivation. The dimensionally stable, peat-free and clean plant foam-substrate is produced from biodegradable biopolymers and natural additives. Depending on specific crop requirements Growfoam can be tuned in composition, foam morphology and foam cell size. By tuning the foam substrate to the requirements of young plant growers, Foamplant is able to deliver a defined water capacity and air capacity suited to every crop.
Innovative plant substrate with less footprint
“The horticultural industry is becoming a powerhouse in technological advancements and sustainable crop cultivation. With our Growfoam substrate we now enable growers to also lift their requirements on plant substrate to a new level”, says Martin Tietema, CEO of Foamplant.
“Growers are actively looking for high-quality substrates that fit the footprint society demands nowadays. By combining the best features of organic and inorganic growth media in a made-to-measure product, Foamplant is catering to that need.”, says Tijl Hoefnagels, partner at Future Food Fund. “Foamplant is therefore a great fit with our mission to support innovative technologies that positively impact the future of the agri-horti-food sector”.
Biologically degradable substrate has to become the standard
Foamplant is on a mission to deliver safe, clean and biodegradable technical foams for everyone and in every application. The company has developed a platform technology which enables the production of biodegradable foams with similar properties to conventional foams, such as flexible polyurethane foams. With its technology Foamplant aims to revolutionize the foam material industry. And by doing so, raising the bar towards a new standard: biodegradable foams in all technical applications.
Pioneers for innovation
“Foamplant is pioneering in developing and producing new biodegradable and bio-based alternatives to conventional foams. We believe that the Foamplant team can deliver a valuable contribution to the usage of more sustainable materials. The team has shown to be able to innovate quickly and we look forward to helping the to successfully commercialize their products”, says Janneke Bik, partner at Shift Invest.
Both Janneke Bik and Tijl Hoefnagels agree: “The skill set within the team allows for a very fast iteration of their innovative products and swiftly adapt to their customer needs”.
Foamplant (www.foamplant.nl) was founded in 2015 as a spin-off from the biobased technology firm KNN Groep and is managed by Martin Tietema, Vincent van Assen, Martijn Beljaars and Wilfred Roo. “Our creative team is the core driver towards an innovative platform technology. To further unlock the potential of Foamplant Shift Invest and Future Food Fund now offer us the tools for growth, a vast network of experienced entrepreneurs, as well as the necessary fund for swift company development. Foamplant is very excited to realize this next step in company development together with Future Food Fund and Shift Invest”, says Martin Tietema, CEO at Foamplant.