Amcor, Nfinite enter joint research agreement to leverage nanotechnology in recyclable and compostable packaging

Rhea-AI Summary

On March 22, 2023, Amcor (NYSE: AMCR) announced a joint research project with Nfinite Nanotechnology Inc. to enhance recyclable and compostable packaging using Nfinite's advanced nanocoating technology. The initial phase aims to create an oxygen barrier to improve packaging performance, followed by further developments to optimize manufacturing processes. This collaboration builds on a partnership formed in 2022, with Nfinite previously receiving $250,000 in funding through Amcor's Lift-Off program. Amcor's commitment to sustainability and innovation is underscored by this agreement, as it seeks to advance circularity in packaging solutions.

Positive

• Joint research project with Nfinite to enhance recyclable and compostable packaging.
• Nanocoating technology aims to improve packaging performance with an oxygen barrier.
• Partnership with Nfinite dates back to 2022, signifying ongoing commitment.
• Amcor's Lift-Off program provided $250,000 in funding to Nfinite.

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• None.

ZURICH, March 22, 2023 /PRNewswire/ -- Amcor (NYSE: AMCR) (ASX: AMC), a global leader in developing and producing responsible packaging solutions, today announced a joint research project agreement with Nfinite Nanotechnology Inc. to validate the use of Nfinite's nanocoating technology to enhance both recyclable and compostable packaging.

In the proof-of-concept phase of the project, Nfinite's coating technology will be applied to Amcor's existing recyclable and compostable packaging material. The objective is to deliver an oxygen barrier to improve performance for recyclable and compostable packaging. Once validated, the next stage of development will seek to ensure the products are optimized to Amcor's manufacturing processes and analyze additional substrates like bio-based materials to create more sustainable applications.

This project marks an important milestone in the partnership between Amcor and Nfinite that began in 2022 when Nfinite was selected as an Amcor Lift-Off winner. In addition to receiving $250,000 in seed funding, Amcor Lift-Off start-ups have the opportunity to work with Amcor's Research & Development team to create new applications that can advance both companies' efforts toward driving circularity.

Amcor Vice President of Corporate Venturing and Open Innovation, Frank Lehmann, said, "This joint research project agreement is an important step, and showcases Amcor's solution-based commitment to sustainability and innovation. Collaborating with innovative start-ups like Nfinite,  particularly in the early stage of this exciting new technology, is one more way we are working to advance our shared sustainability goals."

Chee Hau Teoh, co-founder and CEO at Nfinite Nanotechnology, said, "We're very pleased to have Amcor's support in advancing our ambitions to deliver this nanocoating technology in packaging applications. Once scaled up, we can begin looking for pilot companies eager to leverage this technology."

To learn more about how Amcor's collaboration with Nfinite began as a result of the Corporate Venturing team's Amcor Lift-Off program, click here.

About Amcor

Amcor is a global leader in developing and producing responsible packaging solutions for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that is increasingly lighter weight, recyclable and reusable, and made using an increasing amount of recycled content. In fiscal year 2022, 44,000 Amcor people generated $15 billion in annual sales from operations that span 220 locations in 43 countries. NYSE: AMCR; ASX: AMC
www.amcor.com I LinkedIn I Facebook I YouTube

About Nfinite Nanotechnology

Nfinite Nanotechnology is a venture-backed advanced material company based in Waterloo, Canada, that aims to build a more sustainable world through the advancement of compostable and recyclable packaging. Nfinite's breakthrough nanocoating technology is based on more than 10 years of science and experience in the development of advanced functional thin films.

Nfinite is commercializing its rapid, open-air nanocoating platform, which produces large-area, high-quality, ultrathin-films at low cost. Nfinite's mission is to provide the packaging industry with a sustainable path forward by delivering high-performance barriers layers for sustainable packaging, accelerating the world's goal to eliminate plastic packaging pollution.

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SOURCE Amcor

FAQ

What is the recent partnership between Amcor and Nfinite?

Amcor announced a joint research project with Nfinite to enhance recyclable and compostable packaging using advanced nanocoating technology.

When was the Amcor and Nfinite partnership announced?

The partnership was announced on March 22, 2023.

What technology is Amcor utilizing for sustainable packaging?

Amcor is utilizing Nfinite's nanocoating technology to improve recyclable and compostable packaging.

What is the financial support provided to Nfinite by Amcor?

Nfinite received $250,000 in funding through Amcor's Lift-Off program.

What are the goals of the Amcor and Nfinite collaboration?

The collaboration aims to improve packaging performance and advance sustainability in packaging solutions.